Altcoins are making huge profits as Bitcoin continues its race to break $100,000. Ethereum (ETH), the second largest cryptocurrency, rose 3.25% to the dollar.3,424.59 Its weekly gain of 7.83% has outpaced Bitcoin’s gain, according to CryptoSlate data. However, even though the largest altcoin has a market capitalization of $409 billion, the price is still nearly half of its all-time high of $4,864.11.
Solana (SOL) registered a slight increase of 0.24% on Saturday, but its price has increased by 19.35% over the past 7 days. SOL price reached an all-time high of $264 on Friday. Dogecoin (DOGE) price has increased by 15.12% over the past week and was at $0.42 at the time of writing. DOGE price is up over 37% compared to last month.
While the price of XRP fell by 2.34% today, the price of the cryptocurrency has increased by more than 180% over the past month.
Among the top 10 altcoins, Cardano (ADA) posted the highest gain over the past week, rising 36.81% to $1.03, with a market capitalization of $36 billion at the time of writing. On Saturday, the altcoin posted a 7.12% gain, and ADA price has increased over 200% in the past 30 days.
Avalanche (AVAX) also posted a significant 18.8% rise over the past seven days, reaching a price of $41.43 on Saturday. Over the past month, the price of AVAX has increased by more than 60%.
Tron (TRX) price rose nearly 6% on Saturday, reaching $0.21. Over the past 30 days, the altcoin has gained over 28%. Meanwhile, tonne (TON) prices rose nearly 16% on Saturday to $6.36. The monthly increase rate of altcoins is about 85%.
Stellar (XLM) price rose over 66% today to $0.49. According to the data, the price of altcoins has increased by 430% in the past month. Polkadot (DOT) price has increased by 35.93% in the past 24 hours and was at $8.60 at the time of writing.
Today's biggest gainer is Kusama (KSM), which is up over 111% in the past 24 hours to $46.05 at the time of writing. However, despite today's rally, the altcoin's price is still 93% below its all-time high.
Sustained positive movement in Bitcoin price almost always causes a rally among altcoins, and this time is no exception. Bitcoin prices have soared since Donald Trump's victory in the US presidential election earlier this month, boosting market optimism, rising 44% in the past 30 days. Despite falling 1.01% into the red on Saturday, Bitcoin is on track to hit $100,000 in the coming weeks, with altcoins following in its footsteps.
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