Bitcoin (BTC) has surpassed $ 19,000 in a new bullish wave, but traders are interested in altcoins. Heralding the beginning of the "altcoin season" for many, the major cryptocurrencies are seeing the biggest gains in three years.
XRP and XLM leading new 'altcoin season'
The most rising altcoins with a market value of at least $ 1 billion are as follows:
Ripple's XRP token is gaining social media attention after an interesting recession, thanks to its weekly gains of over 110%. Reaching $ 0.92 before a sudden 30% collapse that came with Coinbase's major technical outage, XRP is trading at $ 0.64 at the time of writing.
That said, the token is still about 80 percent below its high of over $ 3, its all-time high.
By comparison, Bitcoin (BTC) is currently only 3 percent below its all-time high in December 2017.
Behind the resurgence of XRP, Stellar (XLM) reached $ 0.18, up 90 percent weekly. Stellar reached these levels for the first time after November 2018, with this move, a classic uptrend for the "sister" altcoin, which tends to follow XRP in the bull markets. Its all-time high is just over $ 0.60.
Cardano (ADA), the subject of another success story this week, had earned 50 percent weekly before altcoin spikes, most of them Wednesday. Currently with a market capitalization of over $ 5 billion, Cardano is the eighth largest cryptocurrency, surpassing $ 0.16.
However, it appears to be well away from an all-time high of over $ 1.
The fourth largest weekly increase was for IOTA (MIOTA); his weekly earnings were just under 50 percent. Currently ranked 26th on the CoinMarketCap list of cryptocurrencies, IOTA reached $ 0.36 this week. However, the road to an all-time high remains uncertain. The crypto currency reached its peak with $ 5.50.
Dash (DASH), a familiar face for altcoin traders, has lagged behind among the week's highs, with the DASH / USD parity rising nearly 40 percent in the past 7 days. At the time of writing, the trading pair changed hands at $ 115, but is still far from the $ 1,500 record.
Popular trader Scott Melker stated that the index has not broken upwards this week, saying “Bitcoin dominance. In case you were wondering, this is what altcoin season looks like, ”he said.
"It is very reminiscent of 2017. Altcoins have a short time to party, then go back to Bitcoin; things are heating up. Then everything goes back to the beginning. Filled with altcoin enthusiasm, this week was incredible. We will wait and see now. "
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