However, despite the change in investor sentiment, many mid-cap altcoins, which we are describing as coins with market capitalizations between $100 million and $500 million, have lagged behind the larger market over the last week. If a new bull run is truly in the works, this might result in a significant rotation of capital from the top-20 coins into underperforming, mid-cap altcoins.
This thesis is supported by Luke Martin, a well-regarded technical crypto market analyst, who recently publicly stated that he is rotating his exposure of major altcoins, including ADA and TRX, into coins like ICON (ICX).
I think mid caps can catch up and outpace majors this week. Moved into two new plays with $ICX and another I can't say because I don't want it to pump 🤫
— Luke Martin (@VentureCoinist) September 24, 2018
Moving forward, investors should watch both the price action of coins like XRP and TRX, as well as the volumes of mid-cap altcoins, to determine which coins are likely to run next.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.