The world of cryptocurrencies is currently witnessing an intriguing phase, with various altcoins making inroads and reducing Bitcoin’s dominance. The leading digital currency is consolidating around the $97,000 mark, while the overall market capitalization hovers around $3.56 trillion. Bitcoin’s Price Stabilizing Around $97,000 Over the past week, Bitcoin has experienced significant fluctuations in price, reaching a low of nearly $90,000 at one point before bouncing back and forming a V-shaped recovery.
Yesterday, bulls tried pushing it towards $99,000 but were unable to achieve that goal. Currently trading at approximately $96,700 – a figure that has remained stable for hours – it remains to be seen if buyers will attempt another run at the coveted $100,000 level or if we will witness another correction.
Despite this relative stability in price, Bitcoin’s dominance – a metric used to measure its share compared to the rest of the market – has been declining steadily over time. It has dropped by more than 3% within the last seven days alone and now stands at around 53%. This indicates that altcoins have outperformed Bitcoin in recent weeks.
Ripple Leads Majors as Altcoins Rally XRP has experienced an impressive 15% increase in value over the past 24 hours, making it the best-performing large-cap cryptocurrency among those ranked within the top 20. Looking at other top performers from within the top 10 ranks include: Hyperliquid (HYPE) up by 76% and Core (CORE) up by 44%.
Ethereum Name Service (ENS) also had a commendable gain of 38%. Special Offer (Sponsored) – Binance Free $613 Giveaway! Use this link to register on Binance for your chance to win up to $613 worth of crypto assets! Don’t miss out on this fantastic opportunity! For those interested in receiving free trading tips and insights delivered directly to their inbox weekly via CryptoPotato’s Market Insights newsletter – Sign Up Now!
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<p>The post Crypto Market’s Altcoin Uprising: Dominance Slips, XRP Soars first appeared on CoinBuzzFeed.</p>
