PrimeXBT Presents All-Access Pass To Altcoin Season With New Assets
PrimeXBT, has long been known as a Bitcoin, Ethereum, and Litecoin trading platform, that later added traditional assets like commodities, stock indices, and forex. However, due to the ongoing altcoin season and the widespread adoption of certain crypto assets, the award-winning trading platform has created an all-access pass to altcoin season, by listing seven of the best performing altcoins of the entire year.
The list of new altcoin crypto assets includes Cardano, Dogecoin, Chainlink, Polkadot, XRP, Uniswap, and Solana. Here is why everyone needs to try trading these new assets now that they’ve been listed on PrimeXBT.
What Is An Altcoin Season In Crypto?
An altcoin season is defined as a period of time or phase, irregardless of timeframe, where altcoins vastly outperform Bitcoin by a large margin. Altcoin seasons can appear while Bitcoin is rising or falling. However, positive yet sideways conditions in Bitcoin seem to be best for creating the right environment for altcoin season to occur.
The psychology behind altcoin season is that Bitcoin price reaches certain psychological thresholds where it becomes too expensive for certain participants due to their level of wealth. For example, owning a full BTC was psychologically very different at $1,000 versus $10,000, and will be even more drastic as the price per BTC eventually rises to over $100,000 per coin.
Bitcoin reaching $50,000 is what set off the full-blown altcoin season, because few were willing to exchange that much cash for a speculative asset, when they could risk much less for even larger potential upside. The key factor in making the most money during each possible altcoin season is to be sure to get out as close to the top as possible. Simply getting out in any sort of profit is even notable, considering that most altcoins tend to correct by as much as 95% or more.
Why Traders Want Altcoin Season To Continue
During the height of the last major altcoin season in 2017, Ethereum traded at $1,400 for example, then crashed back to $80 before the bottom was in. Litecoin was another asset that dropped substantially, from around $400 to $20 at the lows. Bitcoin fell from $20,000 to $3,000 representing more than an 80% loss, but was nowhere as drastic as the 90% or more altcoins experienced.
That said, during the latest altcoin season in 2021, assets like Solana and Dogecoin rose by as much as 15,000% in less than a year, all while Bitcoin did around 300%. Which is why crypto investors continue to chase the profits across the crypto space, following whatever the hottest new altcoin is at the moment.
At some point, the shiniest new altcoin eventually begins to prove its value, and a more serious level of investors and traders take notice. After now having survived several strong selloffs and have managed to still climb, the seven new altcoins that PrimeXBT has added highlight these particular standouts.
Updated Altcoin List Transforms Lineup, Traditional Assets Included
PrimeXBT launched with BTC-based margin trading on Bitcoin, Ethereum, Litecoin, and EOS – top altcoins from the last market cycle. These coins were added because they had proven to be valuable for crypto investors and traders long term, but now the advanced trading platform is preparing for a new generation of coins.
The platform has introduced seven new popular altcoins as part of its growing lineup, which trade alongside major forex currencies, stock indices, gold, silver, oil, and much more, all from a single account. As mentioned, the altcoins include Cardano, Dogecoin, Chainlink, Polkadot, XRP, Uniswap, and Solana. The platform also expanded to include margin accounts using ETH, USDT, and USDC in addition to BTC as stablecoins became more important to the ecosystem.
These coins represent some of the greatest advancements in the crypto industry since Bitcoin and Ethereum. Solana, for example, is significantly faster than Ethereum, but is also an ecosystem where NFTs can be minted and DeFi apps can run. Cardano is somewhat similar. Polkadot connects various blockchains together, while Chainlink provides vital data to the dapps running on each blockchain. Uniswap is a governance token to the decentralized exchange of the same name, and Dogecoin is the meme coin made famous by Elon Musk.
How To Get An All-Access Pass To Altcoin Season
With PrimeXBT, traders and investors get an all access pass to profiting from the ongoing altcoin season, with a backstage pass to traditional markets to balance out a portfolio. The risk related to speculative crypto assets can effectively be mitigated using more stable assets like gold, or forex.
The award-winning trading platform also offers protection orders like stop losses to be added to long or short positions, so that unwanted drawdowns can be prevented and capital protected. Built-in charting tools can also help warn traders as to what might happen next, with over 20 of the most popular indicators included.
PrimeXBT is also home to the Covesting copy trading module, which connects novice traders who can become followers with strategy managers who regularly show success through the fully transparent leaderboard system. Top ranked traders who have used Covesting have reached milestones of 100,000% profits and have the proof to back it up.
PrimeXBT And The Other Reasons To Get Registered
Covesting has also launched a new yield generating tool in partnership with PrimeXBT, which offers direct access to popular DeFi protocols right from within the easy to use PrimeXBT account dashboard. Variable APYs reach as high as 10% depending on market conditions, allowing traders to access passive income from the same account system they trade with.
There is also a four-level referral program, 24/7 customer service, a help center, company blog and much more. Bank grade security keeps funds protected at all times, and deposits of as little as $5 can be made to open up a free margin trading account. Registration only takes a few minutes, an email address, and very little personal info. In no time at all, any investors or trader can access their pass to altcoin season profits unlike ever before.