Several altcoins, including ETC, ICP and ADA, but also UNI, are in a phase of strong upward movement, whether or not driven by variations in Bitcoin.
The correlation between the price of altcoins and that of Bitcoin is well established. However, the price of BTC now seems to be stabilizing. It would thus have reached its minimum value and can hope to return to sustainable growth.
This prospect gives dynamism to altcoins, some more than others. This is particularly the case with Ether, which, over 7 days, rebounds almost 14% to over $ 2,300. Other tokens are part of this trend.
Ethereum Classic earns $ 20 since June
On July 3, major altcoins, including Cardano, Ethereum Classic or Dfinity, recorded an average growth of 5.21%. The cryptocurrency market therefore had a capitalization of $ 1,520 billion.
On Monday July 5, the momentum eased slightly. Nonetheless, several benchmark altcoins keep a sharp rise over 7 days. Binance Coin, for example, is close to + 7%. Cardano (ADA), 5e cryptocurrency ranking, is around + 9% or $ 1.43.
Uniswap, DeFi’s first DEX, soars 20% to $ 20.42. Solana is doing less well at + 8%, but other altcoins stand out. This is particularly the case with Ethereum Classic. And for ETC, this is nothing new.
The ETC course Now prices 56.34 dollars thanks to a jump of 35.69% according to CoinMarketCap. This momentum was sparked on June 22 by DCG’s $ 50 million investment. This amount was incorporated into Grayscale’s Ethereum Classic fund.
DeFi greats soar from 30% to 70%
So, on that date, Ethereum Classic was trading at around $ 36. Its price has steadily increased since then. He has indeed earned 20 dollars since this announcement, completed by a next update, a hard fork. This provides for a drop in the cost of transactions, as on Ethereum.
Another cryptocurrency being talked about again, Dfinity’s PKI. Since its launch and listing on Coinbase Pro, the token has experienced very high volatility and a plunge. The ICP fell to $ 28. He has since returned to $ 55. At another 14%, it costs 46.38 dollars.
Finally, among the altcoins to watch closely for potential investments, let’s not forget the tokens of the major DeFi protocols. Very heckled in recent weeks, the market has found a little color.
This is reflected in the variations in the price of DeFi tokens. Compound (COMP) soars 70% to $ 445. Synthetix (SNX) gains 41% and Aave almost 30%. And even if Bitcoin stabilizes, these various altcoins largely supplant BTC in terms of the rise.