The total cryptocurrency market capitalization remained relatively unchanged throughout the past 24 hours, as Bitcoin and most large-cap coins failed to chart any significant gains.
Of course, there are some exceptions to this, including the new Hyperliquid token that is doing rounds, so let’s dive deeper.
Bitcoin Price Flat Around $97K
During the past day, Bitcoin failed to note any considerable movements and is trading at a slight increase of around 0.4%.
For the most part, it traded below $97,000 and was even close to falling below $96,000 at one point, but the bulls were quick to stop the assault and prevented further declines, as seen in the chart below.
Source: TradingView
All eyes are still on Bitcoin, though, as the entire industry expects it to break above $100,000. However, at the same time, its dominance – the metric that tracks BTC’s share relative to that of the rest of the industry, has been dwindling lately.
It declined by more than 3% during the past seven days, which is a clear sign that altcoins are popping and are gaining more ground. One clear example of that is the new token that was airdropped a couple of days ago – Hyperliquide (HYPE).
HYPE Leads Altcoin Gains
Hyperliquid (HYPE) is trading at above $9, achieving a total market capitalization of upwards of $3 billion in the first couple of days since it was airdropped to users. This is nothing short of impressive, and it’s the best-performing cryptocurrency from the top 100 following its airdrop.
Another runner today is the meme coin Brett (BRETT) and Hedera’s HBAR, both of which have gained more than 20% in the past 24 hours.
Source: Quantify Crypto
Meanwhile, the majority of the large-cap cryptocurrencies such as SOL, ETH, DOGE, ADA, AVAX, XRP, and so forth, are trading relatively flat during the past day, charting differences in the range between -2% and +2%.
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