Cryptocurrency markets have long been dominated by the big “First Mover families” such as Bitcoin, Ethereum, and Litecoin – until now. Altcoins are starting to see a surge of interest, giving investors a way to diversify their crypto-portfolios and take advantage of the “head-and-shoulders” pattern emerging in altcoin prices.
Despite the recent spike in Bitcoin prices, the crypto-world remains tentative, with Bitcoin trading range-bound, and altcoins continuing to dip lower. The absence of fresh capital has added to bearish sentiment and kept many traders and investors on the sidelines.
Binance, one of the world’s leading cryptocurrency exchanges, has announced the listing of 34 new cryptocurrencies on its new platform in Japan. Starting on June 4, customers will be able to buy, sell, and trade a variety of tokens, including Ethereum, Bitcoin Cash, and more.
Crypto markets lost an average of $20B in daily market cap, as Bitcoin fell below the $29K mark. The top 20 cryptocurrencies by market cap, as well as the entire crypto market, have experienced a crash in prices this week.
Bitcoin SV & Bitcoin rose sharply in the past 24 hours, boosted by resurgent investor interest. BSV shot up 11% & BTC jumped to levels above $29K. The rebound came after weekend losses and suggests the crypto market is regaining momentum.
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Solana’s massive 24% decline in price has left investors wondering what happened. Analysts suggest the slump follows increasing interest in BTC20, a more accessible token, which could explain the sudden sell-off.
MKR the token used to govern MakerDAO has risen 28 in the last week as the token buyback scheme went live The scheme aims to drive higher MKR demand which could result in a sustained rise in MKR’s market cap
Coin analysts predict the top 3 performing coins on Binance exchange in Q3-2023 will be USDT, BNB, and MATIC. These altcoins have established strong foundations for sustained success & are promising long-term investment opportunities.
Q2 of 2020 saw altcoins suffer as Bitcoin surged to a dominance of 64.4%. Despite Bitcoin’s volatility, altcoins failed to make a bid for the king of cryptocurrency’s title as their prices indicate a growing separation from Bitcoin.