Riots behind the First Mover
While the Bitcoin draws lonely its circles, ever more experts count on an upcoming Altcoin Season. Much resembles the course from December 2017. 47 months ago, after an impressive price rally, the No.1 crypto currency climbed to an all-time high of 20089 USD. Only a few days later, the alternative assets took over. Ethereum and Co. reached their own best values in a rush and many investors made a fortune. Is history repeating itself or can the Kryptos even beat their records at the next rally?
Bitcoin course on Wednesday
A Bitcoin Dominance Index of 61.5% shows that investors continue to focus on Bitcoin. At the time of this article, the Bitcoin is quoted at 19206 USD, which corresponds to a daily gain of 0.20%. Thus, it seems that the bulls are taking a break from the hardships of the previous days. Again and again the attacks failed at the important USD 19000 mark, but this barrier could now mutate into an important support line.
Ethereum falls below the 600 USD mark
Ethereum is considered a draft horse for a possible Altcoin Season. After 16,384 validators have filled the deposit contract with 324,288 ETH units on time, the RTH 2.0 Beacon Chain will be launched on December 1, 2020. For months, users have been eagerly awaiting the long-awaited switch from Proof of Work to Proof of Stake. On Wednesday, the Smart Contract Coin is quoted at USD 594.83 (- 1.31 %) and has a market cap of approximately USD 68 billion. The DeFi market holds countless use cases and Ethereum’s opportunities are far from exhausted. However, the migration to ETH 2.0 presents developers with complex tasks.
Ripple back to position 3
Ripple, “the Bitcoin of the banks”, can regain the place on the podium with a week plus of + 133.40%. In passing, the XRP bulls pulverized all resistance, so that the price is now at 0.69 USD. The sleeping giant has thus broken through the underperformance of recent months.
The battle for the chasing places
Behind Tether (position 4), Bitcoin Cash (- 3.07 %), Chainlink (- 4.82 %) and Litecoin (- 4.86 %) compete for position 5 of the crypto charts. The “Oracle-Coin” Chainlink (current price: USD 14.85) already scratched the USD 20 mark in August, while Litecoin benefits from its reputation as “digital silver”.
Cardano and Stellar with enormous uptrend
Cardano, the “third generation Blockchain”, is considered one of the biggest Ethereum competitors and the current Bull Run confirms this. In the last 7 days, the project has grown by 51%, and currently the coin of mastermind Charles Hoskinson is trading at 0.17 USD. Further back, Stellar is making a comeback in the top 10 with a weekly increase of 132 %. After a complication-free update, the powerful currency is now reaching for position 9, which is currently occupied by Polkadot (- 4.32 %).