Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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-2.31%Reading
Bitcoin’s latest surge, which added $4,000 to its price since Christmas Day, has come to an end. In Bitcoin's lull, altcoins are seizing the opportunity—and booming.
All altcoins rose significantly in the past 24 hours days, including XRP, the beleaguered cryptocurrency whose creators are reckoning with a lawsuit that the US Securities and Exchange Commission slapped on them last week.
Ethereum, the second-largest coin by market capitalization, rose by 14.23% in the past 24 hours to $720; XRP by 7.25% to $0.29 (although the coin is still down by 44% in the past week); Litecoin by 6.57% to $134.18; Bitcoin Cash by 15.56% to $364; Polkadot by 15.78% to $5.76; Cardano by 8.47% to $0.16; Binance Coin (BNB) by 8.59% to $34; and Chainlink by 15.58% to $12.23.
Altcoins’ rise started yesterday. Ethereum made headlines (including Decrypt’s) when it rose above $700 yesterday afternoon. ETH then hit its highest price since May 2018, $737.92, earlier today. Its market cap is $82 billion.
QCP Capital, a Singaporean crypto trading firm, wrote today in a note to investors, “late yesterday we got the usual swapping of BTC profits into the Alts, driving ETH to new cycle highs as well. The ETHBTC bounce happened at 0.023, which has proved a strong level for those looking to diversify their growing BTC balance sheets into ETH.”
It will be interesting to observe whether altcoins will continue to rise should Bitcoin’s price change significantly in the next few days.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
President Donald Trump's own official meme coin is today's biggest loser in a spiraling crypto market that's apparently reeling ahead of trade tariffs that are expected to take effect Tuesday. TRUMP, the Solana meme coin that Trump launched just days before his January inauguration, has fallen by 25% in the last 24 hours to a current price of $12.60. No other coin in the top 100 cryptocurrencies by market cap has dropped harder during that span. The token spiked from $13.46 to $17.46 on Sunday w...
So much for the Trump pump. After the prices of Bitcoin, Ethereum, and other top assets spiked Sunday after President Donald Trump said they'd be included in a planned United States crypto reserve, the broader crypto market is down by 8% over the past 24 hours. Bitcoin has fallen from a mark of around $94,000 earlier Monday to a current price of $87,300, as the reality of Trump's trade tariffs and inflation fears have cooled the short-lived hype around the U.S. amassing coins. The top cryptocurr...
Bitcoin, Ethereum, and other major cryptocurrencies surged in value Sunday as President Donald Trump signaled plans for which assets could be included in a proposed U.S. crypto reserve. But Bitcoin has already shed thousands of dollars worth of gains on Monday, with other assets starting to fade as well. Following a nearly $4,000 rapid drop that took the price back below $90,000 on Monday, Bitcoin is currently priced at $90,529 as of this writing. It's still showing a nearly 4% rise over the pas...