Altcoins triumph. Bitcoin SV, Dash and Ethereum Classic are at the head of the rally. Bitcoin is left behind
The wave of enthusiasm, which began in January, has reached many cryptos levels to record levels. The leading cryptocurrency, Bitcoin (BTC), has already gained 42% since the beginning of the year. Despite this impressive profit, the data show that it is the altcoins that are shining the triumphs this year. Which were the best?
3rd Ethereum Classic (ETC)
Among the high-capitalisation , one of the best coins in the last few weeks of the “altcoin season” was the Ethereum Classic (ETC). Last month, the bulls fought twice to raise the price of the coin above 10 USD – unlisted for 16 months. Although they failed the first time, they did not give up, thanks to which ETC resumed the rally and successfully exceeded this psychological level. A sharp upward movement also caused the price to reach its highest level since September 2018.
Currently, the “brother” of the second largest cryptocurrency, Ethereum (ETH), is valued at $11.86, an increase of nearly 120% over the last month and about 169% since the beginning of the year. Despite a drop from over $13, the coin continues to move within a long-term upward trend.
2 Dash (DASH)
The Dash (DASH), like many other cryptocurrencies, only broke the downward trend in January, recording a month ago an increase of about 91% in just two days, overcoming an important level of $100 and finally $140, the highest since July last year. After a temporary withdrawal, the coin has stabilized and now continues its upward trend.
At present, the Dash, which belongs to the so-called privacy coins (next to, among others, Monero and Zcash) costs about USD 129. During the month, the coin has already gained 89%, while since the beginning of the year it has recorded a price increase of over 220%. Thanks to the staggering growth, the capitalization of the cryptocuurencies coin has recently exceeded USD 1 billion.
1 Bitcoin SV (BSV)
Of the leading altcoins, it is Bitcoin SV (BSV) who has been doing best since the beginning of the year. After many months of falls, he once again found his place among the best cryptographers. After a spectacular increase in mid-January, when the price of BSV reached its highest level ever, $441, the coin scored a large correction and fell to around $240 as a result. However, BSV resumed its upward movement and is again moving towards $400.
At the moment, the BSV rate is $360, an increase of 108% over the month and a record 273% since the beginning of January, which is the best result among the leading altcoins. It is worth noting, however, that on a weekly and monthly basis, the Tezos (XTZ) has achieved a better result, with increases of 62% and 173% respectively.
Cryptocurrencies capitalization exceeds USD 300 billion
Apart from BSV, DAS and ETC, the year 2020 was successful for virtually all leading altcoins. despite periodic increases and decreases, the entire market is green. All coins out of the top 20 (in terms of capitalization) have recorded at least several dozen percent increases since the beginning of the year. Apart from those already mentioned, Tezos (159%), Chainlink (146%) and Bitcoin Cash (141%) grow the strongest.
Thanks to these increases, the market capitalization of the cryptocurrencies exceeded USD 300 billion this week, for the first time since August last year.