- Bitcoin dominance drops to 49.26%, a decrease of 0.31% in a day.
- Ethereum (ETH) surges by 2.28%, reaching a price milestone of $1,960.
- Pepe (PEPE) witnessed a significant surge of 17.94%.
Bitcoin’s dominance is currently 49.26%, which experienced a decrease of 0.31% in 24 hours over the day. This sent shockwaves to Bitcoiners, as the cryptocurrency has been facing a downtrend in the past week. Meanwhile, just like when the lion sleeps and other wild animals roam the forest liberally, the altcoin market is pumping. Surprisingly, even some low market cap altcoins saw a major surge in the present day.
The list of these altcoins includes Ethereum, Polygon, Pepe, and Filecoin.
Ethereum (ETH)
Silver coin Ethereum is up 2.28% today, with a current price of $1,960, which is considered a significant milestone regarding the coin’s bearish month. ETH had a price surge of only 2.94% over the past month. From a weekly perspective, ETH is up 4.32%, struggling to recover from the bearish zone. However, today, the price hit a high of $1,895 and a low of $1,973. Undeniably, the downturn in the Bitcoin market sparked the flame for Ethereum’s price. It is now showing positive signs, and people expect it to continue rising toward the $2,000 resistance level.
Polygon (MATIC)
Another popular altcoin, Polygon, has been in a dark red zone over the past month, nearly reaching an all-time low. While it got lost in the bearish zone, this week showed some signs of recovery. MATIC saw a price surge of 4.27%, and in the present day, it saw a surge of 3.27%, reaching the current price of $0.6888. With new updates on Polygon 2.0 and the altcoin season gaining momentum, Polygon is expected to turn its previous red month into a green one.
Pepe (PEPE)
The famous memecoin, Pepe, currently holds the crown in the meme world. However, it also had a bearish month. In the past week, it experienced a significant price surge of 17.33%. Continuing the upward trend, PEPE saw a surge of 17.94% today. The current price stands at $0.000001812, which is the all-time high of this month for the frog coin. Market analysts predict that it might even trigger a memecoin rally.
Filecoin (FIL)
Filecoin, one of the high market cap altcoins, has been in the red ocean for over a month, even hitting an all-time low price this month. However, what made the community excited was the surge it witnessed today, with an increase of almost 15.93%. The current price stands at $4.70. This win is considered significant, considering the prolonged bearish zone it was in.
It is also worth mentioning that The Graph (GRT) saw a surge of over 23.44% in just 24 hours, and BitDAO (BIT) saw a surge of 14.11% in the same timeframe.
In Summary , The altcoin market is thriving with surges in Ethereum, Polygon, Pepe, and Filecoin, while Bitcoin’s dominance dwindles. This shift signals a potential turning point and a new era of opportunities for cryptocurrency investors.
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- Source: https://thenewscrypto.com/altcoins-are-pumping-as-bitcoin-dominance-drops-by-2/
