Report: altcoin season to start?

Fri 13 Aug 2021 ▪ 16h40 ▪ 4 min de lecture - par Rudy Bauer

Altcoins are becoming increasingly important for the crypto market. Let’s take a closer look at some of the latest trends and indicators of this budding niche.

Cardano (ADA)

Cardano sets new price records. The asset is currently trading above $2.06, which indicates an increase of more than 13% over the past 24 hours.

ADA presents itself as an updated version of Ethereum (ETH), offering developers a possibility of creating decentralised applications (DApps). During the past week, the token has risen in value by more than 48%.

Chiliz (CHZ)

Legendary footballer Lionel Messi has recently left FC Barcelona for Paris Saint-Germain, which prompted another altcoin, Chiliz, to rise. The firm behind CHZ is known for operating Socios, a platform where Paris Saint-Germain Fan Tokens (PSG) are issued. After it was revealed that Messi’s two-year contract includes payments in PSG, the CHZ exchange rate jumped 18% to 37c and is still ballooning. The current value of the asset appears to be 41% higher than a week ago.

PSG value rose from $32 to $47 amid news of Messi‘s transfer, then dropped to a new support level of $43. PSG is 310th in the market cap price table.

Ripple (XRP)

Ripple has hit $1.04, which turns out to be 6% of its daily growth. Even though the altcoin has been delisted from some cryptocurrency exchanges due to heavy litigation with the SEC, it surged by more than 45% during the past week.

Binance Coin (BNB)

BNB is now worth about $404. Over the past 24 hours, its value has increased by almost 5%, with more than a 20% rise since last Friday.

Ethereum (ETH)

Ethereum, the world’s second largest coin by market cap and one of the oldest altcoins, has risen by 3% over the past 24 hours and is now trading at around $3.228. That shows a 17% rise since last week.

Dogecoin (DOGE)

The famous Dogecoin, favoured by Elon Musk, is trading at $0.2755, having lost 0.25% over the past 24 hours. However, on a weekly trend, this meme coin has seen a 37% rise.

Last but not least

The crypto market cap is at $1.9 trillion (~£1.4 trillion), having increased by 4.04% over the past 24 hours. 

The volume of the cryptocurrency market for the past 24 hours is assessed at around $108.33 billion (~£78.38 billion), which is equivalent to a decline of 16.26%. DeFi’s total volume currently stands at $11.35 billion (~£8.2 billion), almost 10.48% of the daily crypto market volume.

Stablecoins are worth $85.20 billion (~£61.63 billion), which is around 78.65% of the total daily volume of the crypto market.

Bitcoin (BTC) is currently dominant with 44.59%, indicating a daily decline of 0.48%.

Intriguing enough, isn’t it? We’ll be keeping track of the key exchange indicators for both alts and BTC in our upcoming reports. Let’s see where the market moves!

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Rudy Bauer

Photographe, Vidéaste, webdesigner et enfin rédacteur pour CoinTribune: l'image, le digital et la blockchain sont mon dada.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Prices & Indices

BITCOIN (BTCUSD) $62,845.52 -4.77%
ETHEREUM (ETHUSD) Ξ $4,106.26 -1.38%
DEFI (DEFIPERP) $12,702.20 0.97%
MARKETS (ACWI) $104.90 0.02%
GOLD (XAUUSD) $1,782.74 0.06%
TECH (NDX) $15,489.60 0.66%
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CURRENCIES (EURGBP) £0.842350 0.01%
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