It's been an interesting week. While most of the cryptocurrencies are trading well in the green, the entirety of these gains happened after New Year's Eve. In fact, the total market capitalization current sits at around $3.57 trillion, which is up by around $110 billion compared to the same time last week. And what is more, the majority of this comes from positive developments in the altcoins space. Bitcoin is trading more or less flat on the week, currently sitting at $96,600 after a tumultuous price action throughout the past seven days. The bears were hoping to push it back below $90,000 after Christmas and, to be frank, they almost succeeded. The price dropped to a low close to $91,000 before the bulls finally decided to stand up and show some strength. Once the new year arrived, the buyers stepped into the market and started pushing forward. BTC recovered to where it was trading before the Christmas shennanigans, which, for its part, propelled the entire market into positive territory. Turning to altcoins, a lot of them had better time than Bitcoin, which is also reflected in the latter's market dominance. It's down by about 2 percent in the week that passed. Some of the better performers include Ripple's XRP, which increased by 11%, Solana (SOL) – up 13%, DOGE – up 14%, ADA – soared by 21%, and so forth. All in all, it's been a good week for top-tier altcoins. |