Analysis of the crypto VELO, BABY BONK and other trending altcoins

In this article we explore two cryptocurrencies from the BSC ecosystem that have been making headlines in recent days: the altcoins Velo Protocol (VELO) and Baby Bonk (BABYBONK)

Let’s see which other trending topics could offer speculative opportunities in the market.

Meanwhile, Bitcoin Dominance shows some signs of weakness, anticipating the long-awaited “alt season” that could arrive in the coming months.

Let’s see all the details below.

Altcoin: Prices and latest news of the crypto VELO and BABY BONK

Among the cryptos that have attracted the attention of investors within the BSC ecosystem, we find the two projects Velo Protocol (VELO) and Baby Bonk (BABYBONK).

Going in order, we can see how Velo, which represents a financial platform for issuing cryptographic credits anchored to fiat currencies and covered by collateral in VELO tokens, has recently partnered with the on-chain data indexing project The Graph.

This will allow much more efficient data accessibility for the protocol and simplified access for external dapps.

Anyway, the altcoin VELO is the real protagonist of this project: since March onwards, while the whole market was bearish with Bitcoin losing the $70,000 threshold, this coin has shown all its bullish potential.

During the last week, it has been so targeted for trades that it was elected as the best crypto of the week on the Kucoin exchange.

Looking at the VELO-USDT chart, we can immediately see how the bulls are in control of the situation, with prices that have detached from the EMA 50 daily since mid-April, accelerating the current bullish trajectory.

In the last week VELO has grown by about 40%, flying above 0.028.

From March 1st until today, this altcoin has seen a parabolic price increase of 450%. The historical maximum is unfortunately still far away, set at around 2.36 dollars.

Switching to Baby Bonk, a memecoin in the BSC landscape that takes inspiration from the famous token BONK originally from the Solana blockchain.

The news that is certainly causing a stir for this project is the planned listing on a CEX on May 13th. BABY BONK had reached a trading volume of 15 million dollars in the days before and is now ready to be welcomed among the exchanges of another exchange.

At the moment this altcoin is only tradable on Gate.io, MEXC, Bitget, and PancakeSwap.

It is also worth noting the strength of the community of this memecoin and the team’s willingness to invest in marketing to make their token known to the whole world.

Recently a partnership has been concluded with one of the most well-known crypto influencers on X, namely “Sibel”, who in the past has helped push many projects on Solana.

Graphically BABY BONK does not seem to match the strength of VELO, but still presents an upward outlook, with a price action that in recent months has gone against the trend with the rest of the market.

In particular, from the end of February until March 11th, this crypto has recorded a price growth of 1075% only to lose 80% in the following month.

From May 1st onwards, it has returned to mark unusual increases with a performance of 200% in just one week, attracting much more attention compared to the rest of the altcoin landscape.

Now we will see if BABY BONK will go back to attacking new highs or return to the pre-pump price zone, thus ending its hype moment.

Source:https://www.dextools.io/app/en/bnb/pair-explorer/0xf2b4c08e43f389190372a80c83655cb8ce0c2f94?t=1715324457207

Other trending altcoins

Among the other trending altcoins that have seen increasing prices in the last month, outperforming Bitcoin, we mainly find cryptocurrencies from the AI sector and some memecoins.

In particular, we highlight the achievements of NEAR, AR, AIOZ, AKT, RNDR, PEPE and BONK.

Great numbers also for the Hedera Hashgraph network (HBAR) and for the “real world asset” project Ondo Finance (ONDO) which show double-digit percentage increases in 30 days of trading.

The push of AI altcoins is mainly linked to the positive numbers reported by the microchip giant Nvidia, which with the quarterly data has driven the growth of speculative markets in stocks and crypto.

On the memecoin front, it is worth noting the launch of the DOG meme within the Runes ecosystem immediately after the halving, which may have brought more attention to this market niche.

In the same period of time analyzed BTC loses about 9% while ETH goes even further marking a decrease of 14%.

Looking at the Bitcoin Dominance chart, we can identify a zone that has been marked as a local top, which is the 57% touched with a spike in mid-April.

From there on, a slight decline for this metric began, which paved the way for the positive performances of several altcoins.

Now the dominance index of Bitcoin over the rest of the market is about to test the support of the 50-period exponential moving average on the daily time frame.

If it breaks below this threshold, it could drop to around 53%, allowing for an even larger bullish movement by altcoins.

Before officially entering the altseason, however, we will have to go further down below 48%. Be careful not to take for granted that this phase will come immediately because another BTC rally could occur in the meantime, involving all the capital around it.