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Analysis News

Bloomberg: Altcoins Really Rise

Coinstelegram has repeatedly reported signs of a revitalization of altcoins. Another confirmation came from Bloomberg.

Bloomberg notes a keen interest in altcoins in recent weeks. Bitcoin Dominance has been gradually declining for a month. And the share of ETH and XRP is growing.

(Chart – coin.dance)

The revitalization of the altcoin segment is also noted by practice. The head of trading strategy at Galaxy Digital Josh Lim notes:

– Starting over the last week, we’ve seen a resurgence of interest in alt-coins. The leaders in that regard have been Ethereum and Ripple. We are starting to see more demand pick up in the market. We’ve heard a lot of buyers coming out of emerging market economies.

Site Сoin.dance also notes a sharp increase in trading volume in Hong Kong, Venezuela, Colombia, Egypt, the Philippines and Singapore.

Meanwhile, in the TOP-5 cryptocurrencies, amusing castling may happen in the near future: the stablecoin Tether (USDT) is ready to move from fifth to fourth position. To happen this, Bitcoin Cash, which is now in 4th place in terms of capitalization, should fall by 3%. This is highly likely if bitcoin will adjust together with the market after rapid rise. Stablecoin Tether in this case will retain its capitalization and become the fourth leading coin.

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