Bitcoin shows resilience in Q3 2024, outperforming volatile large-cap altcoins.
Ethereum’s price decline aligns with July’s spot ETFs launch, reflecting investor sentiment shifts.
Altcoins like Solana and Dogecoin spiked earlier in 2024 but trended lower by mid-year.
Bitcoin has gained traction in Q3 2024, with large-cap altcoins lagging the same period.
Data from blockchain data firm Kaiko reveals that altcoins including Ethereum, Dogecoin, Solana, Toncoin, and XRP experienced a market downturn. Kaiko’s asset prices chart shows a clear shift in market dynamics, with Bitcoin solidifying its dominance as altcoins display increased volatility. Notably, ETH has declined since its spot ETFs were introduced in July.
Major large cap altcoins are trailing $BTC so far this quarter as its' dominance increases. $ETH has trended lower since the launch of spot ETFs in July. pic.twitter.com/EvkLCc7cZL
— Kaiko (@KaikoData) September 18, 2024
Altcoin Surge and Subsequent Dip in 2024
At the beginning of the year, most of these cryptocurrencies shared a similar upward trajectory. Altcoins, especially SOL, DOGE, and TON, saw a significant spike by mid-May.
Solana …
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