Rajarshi Mitra
Independent Analyst
- Cardano (ADA) and Ripple’s XRP have joined the list of digital assets that are outperforming Bitcoin.
- Over the past week, Bitcoin has been down by 0.16%.
- Despite this, some analysts believe that the altcoin season is about to end soon.
Ripple’s native token XRP and ADA have joined the list of cryptocurrencies that are outperforming Bitcoin. According to Coin360, the weekly list of best-performing digital assets (with market capitalization more than $1 billion) is topped by Stellar Lumens (XLM), with gains more than 42% in the past week. This is followed by ChainLink (LINK), with over 30% gains and VeChain (VET) with more than 29.26% growth.
With whopping gains of over 28%, Cardano has landed the fourth spot on the list. This is followed by Tezos (XTZ) and Bitcoin Satoshi Vision (BSV) with a growth of 19.15% and 18.54%, respectively. After spiking by 15.64%, Binance Coin (BNB) has ranked seventh in the list, followed by Ripple as it witnessed a rise of 14%. Monero (XMR) and entertainment system protocol TRON have ranked ninth and tenth after surging by 96% and 9.77%.
Over the past week, Bitcoin has been down 0.16%. Despite the soaring performance of large-cap altcoins, some believe that things are about to take a turn for the worse. A renowned strategist who goes by the name “CryptoAmsterdam” said that the end of the altcoin season is round the corner.
Yes. I do think the Altcoin party will end very soon.
— CryptoAmsterdam (@damskotrades) July 10, 2020
I'm not looking for new trades
- Dominance weekly support
- BTC ranges for 70+ days
- BTC volatility at lows only seen 4 times since 2017.
These lows where followed up by 50-250% BTC moves.
- Q3 has been bearish historically pic.twitter.com/zk1z0AENVZ
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
MANTA suffers 4% pullback after unlocking tokens worth $40 million
Manta Network (MANTA) unlocked over 8% of its circulating supply on Thursday. The unlocked tokens were airdropped and distributed in public sale, according to data from Tokenunlocks.
XRP struggles to recover as lingering Ripple lawsuit could reach Supreme Court, former SEC litigator says
The SEC vs. Ripple potential showdown at the Supreme Court is likely, says former SEC litigator Ladan Stewart. XRP Ledger calls developers, businesses and investors to build on the blockchain, extending Apex 2024 registration until April 30.
Bitcoin Layer 2 Merlin chain TVL climbs 20%, defying broad market correction
Merlin chain’s TVL added 20% this week, and crossed $800 million on Thursday. Bitcoin Layer 2 assets noted double-digit losses in the past week. Stacks, Elastos, SatoshiVM, BVM are hit by a correction as Bitcoin hovers around $61,000.
If Bitcoin restarts bull run, these altcoins are likely to explode Premium
If Bitcoin’s consolidation ends and the bull run resumes, altcoins are likely going to trigger a massive rally. Last cycle’s hot tokens like SOL, AVAX, WIF, ONDO, etc., could see renewed enthusiasm.
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.