Tuesday, October 19, 2021
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Altcoins Party: Bitcoin Cash Skyrockets 50% As ETH Just Inches Away From All-Time High

While most altcoins have gone on a wild ride, the primary cryptocurrency seems more relaxed, this is a typical key of an altcoin season.

As reported by Cryptopotato, most alternative coins have resumed their recent bull run, including double-digit increases on behalf of most of the large-caps, including Bitcoin Cash, Bitcoin SV, Chainlink (LINK), Ripple, Litecoin, and Cardano. The second-largest, Ethereum, has also surged to new highs and has come around $100 away from the 2018 record of $1,450.

At the same time, BTC has stalled slightly around the $41,000 mark, and its dominance over the market has reduced to 68.5%.

According to the yesterday report by CryptoPotato, most large-cap altcoins took a break following a few consecutive days of charting gains. Nonetheless, the situation has changed entirely over the last 24 hours.

Ethereum leads with an impressive 12% surge to a near 3-year high of $1,350, as of writing these lines. Consequently, the second-largest crypto by market cap came around $100 away from breaking its ATH record from January 2018. According to CoinGecko data, ETH’s highest price tag was at $1,450.

Binance Coin (6%) and Polkadot (7%) have also added some value to $44.5 and roughly $10, respectively.

Nevertheless, the rest of the top ten altcoins have surged by double-digits, including Ripple (11.5%), Cardano (11.5%), Litecoin (11.2%), and Chainlink (18%).

Bitcoin Cash and Bitcoin SV have stolen the show on a 24-hour scale with massive gains of 44% and 55%. Therefore, BCH has exploded above $600, while BSV has neared $300.

Further gains are evident from Maker (73%), Dash (45%), Ethereum Classic (30%), Bitcoin Gold (30%), Holo (27%), EOS (26%), Zcash (25%), Qtum (25%), Quant (23%), 0x (23%), Compound (22%) and more.

In general, the total cryptocurrency market cap has reached a new all-time high of roughly $1.120 trillion. However, the impressive gains registered by the altcoins have reduced BTC’s dominance over the market. The metric comparing bitcoin’s market cap against all other coins has dropped to 68.5% after hovering above 70% just a few days ago.

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