The 2024 altseason, which is unfolding after the Bitcoin halving, is a highly anticipated period in the cryptocurrency market. The Bitcoin halving, which halves the reward per block mined, occurred in April 2024 and has historically led to significant increases in the price of Bitcoin due to a reduction in the supply of new bitcoins.
After the halving, the supply of new bitcoins decreases, which tends to increase the price of Bitcoin as demand remains constant or increases. This initial rise in the price of Bitcoin is usually followed by a period of consolidation where the price stabilizes. It is during this stabilization phase that investors begin to seek higher returns in altcoins such as RACA, leading to what is known as “altseason.”
Historically, after halving events, Bitcoin’s dominance initially increases, but eventually, capital begins to flow into altcoins such as RACA as investors seek greater returns. In 2020, for example, Bitcoin dominance peaked at 73% before a significant rotation of capital into altcoins. In 2024, similar behavior is expected, where investor attention will turn to altcoins after Bitcoin’s initial rise stabilizes.
Decentralized finance (DeFi), of which the RACA ecosystem is an active part, developing continuous products and services aimed at this not only financial but social revolution, continues to attract investors due to its ability to eliminate intermediaries and offer more accessible and transparent financial services . The DeFi market is expected to grow from USD 22 billion in 2022 to USD 48.02 billion by 2031, with a compound annual growth rate of 9.06%
Thus, the 2024 altseason promises to be a dynamic and potentially profitable period, driven by the increasing integration between traditional and decentralized finance, asset tokenization and innovations in the DeFi space, and RACA is prepared for this new season, with innovative products like the 4090 AI PAACK, World GPU and other new features that will be released soon.
Supported by DWF Labs, OKX Blockdream Ventures, and the Tachyon accelerator by Consensys Mesh, RACA serves as a web 3.0 infrastructure solution provider. Initially launched as a bidding token with the Maye Musk NFT, RACA has evolved into a robust web3.0 gaming ecosystem!
RACA, the USM native token, serves as a Crypto ‘dApp Store’ of AI Apps and Games, initiated by the ‘Elon Musk’s Mother & Koda NFT’ community
