Capital Inflows into Cryptocurrencies
Many major altcoins, including DOGE, are in a watchful mode, keenly observing Bitcoin’s movements. However, there is no need to be overly pessimistic. At least, according to the recent capital flow data by Kyledoops, liquidity is gradually returning to layer 2 solutions, which could potentially signal a turnaround in spot prices.
“ARB has topped the net inflow charts today. Smart money seems to be quietly returning to L2s – is it the first sign of a comeback?”
While Arbitrum leads, it’s interesting that the Base network also remains at the top of the list. Coinbase is expected to introduce a token for the Base network soon, suggesting that capital inflows could result in substantial gains for popular altcoins on the network in the coming days. The exits in the Hyperliquid network are interpreted as securing gains. BNB inflows also provide support for Aster.
Pengu Coin Price and AVAX
AVAX was eager to drop back below $30 but failed to deliver over the weekend. The increase in BTC.D is affecting it more, but considering it has an opportunity for a rebound after 245 days, giving up would be pessimistic. With the fourth quarter just starting, altcoin investors have plenty of reasons to be hopeful this month. Moreover, ETF approvals this week would not be a surprise.
If $29 is not maintained, a brief test of $27 is possible, but an optimistic scenario anticipates a return to $32.
Ali Martinez has just released his final evaluation for PENGU, targeting $0.1 due to the recurring fractal pattern above.