On one hand, after a few days of sky high Bitcoin fees, that saw Binance pause withdrawals, fees have dropped prompting delayed selling from market participants.ĭespite a momentary push higher from Bitcoin and Ethereum after April’s inflation numbers came in lower than expected, the news might have also marked a precipitous sell off from investors.Īs for the broader cryptocurrency market’s losses, the majority follows Bitcoin’s lead, mimicking its price action albeit with larger price swings due to their smaller market cap. The sudden drop in prices could be due to several reasons. Add our widget to track the price of BTC, ETH, XRP, LTC, BCH. Litecoin (LTC) and Monero (XMR), however, are among the few that have not seen drops in their prices.Īlthough the majority of losses are under 5% for major BTC, ETH and major altcoins, the past week has seen larger drops, with several of the aforementioned cryptocurrencies reaching the double digits.Īccording to Coingecko, the global cryptocurrency market cap today sits at $1.2 trillion, which marks a 2.5% drop over the past 24 hours. Watch the heatmap of cryptocurrency prices, market capitalizations, and volumes on COIN360. Larger cryptocurrencies such as Cardano (ADA), Dogecoin (DOGE) and Polygon (MATIC) among others are seeing losses within the 2-5% range. Altcoin is any cryptocurrency, except bitcoin. Thus, the implication is not so much a coin as a cryptocurrency alternative to bitcoin. These drops come amid a wider crypto market selloff, with red candles hitting major and minor altcoins. Top 50 Altcoins by Market Cap in 2021 / Datantify Although coin and token are concepts that refer to units of virtual currencies, i.e. Although Bitcoin is volatile, its the market. This is mostly because investors often look for alternative investment opportunities when Bitcoin’s price becomes too high, and altcoins can provide an attractive alternative.$0.04603967 1.60% Terra Classic (Wormhole)Įthereum, the market’s second largest cryptocurrency has also seen negative price action, with its value dropping 3.3% in the last 24 hours, trading at $1,818 at the time of writing. With the exception of stablecoins, altcoins tend to offer a higher risk and reward as a cryptocurrency investment. In the past, altcoins have tended to outperform Bitcoin in the year following a halving event. Investors will sharpen their focus on real-world applications. Regardless, the altcoins market is expected to see a surge in price following the Bitcoin halving. Jack Taylor/Getty Image As investors head into the fourth quarter, altcoins to watch include Avalanche, Boost and Polygon. ![]() This is a significant shift from a year ago when Bitcoin’s dominance was close to 70%. Source: Crypto TOTAL Market Cap others on Īccording to CoinMarketCap, Bitcoin currently holds a market dominance of around 40%, while altcoins hold the remaining 60%. Altcoins market cap price is moving sideways on the 1-day chart. It has been a dreadful year for almost all of us, but people from the world of digital currencies will have a different take on this. In the past year, we have seen the dominance of altcoins such as Ethereum (ETH), Binance Coin (BNB), Dogecoin (DOGE), and Cardano (ADA) increase significantly. 0.3698 0.24 BNB 313.71 1.55 by Meghna Das Chowdhury Top 10 Altcoins You Must Own in 2021 2020 is finally coming to an end. Though the analyst did not hint at which alternative coins to bag, he went ahead to further ask his nearly 657,000 Twitter followers, “Which ones are you accumulating?” Expected Reaction After The Bitcoin HalvingĪltcoins have been making significant strides in the crypto market, and their dominance has been on the rise.
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