XLM has been by far the best performer among large-cap altcoin projects. Bitcoin’s failure to break the $100,000 milestone on Friday and Saturday has seen prices drop to around $98,000 as of now. Several altcoins like XRP and DOGE have also seen declines over the past day, but others like TON, DOT, and XLM have posted double-digit gains.
BTC calms down at $98,000
BTC traded at around $90,000 at the start of the week, but quickly began to gain traction, reaching an all-time high of over $93,800 by mid-week. This came amid impressive net inflows into spot Bitcoin ETFs in the U.S. The cryptocurrency’s rally continued over the following days, peaking on Friday. At the time, the asset was just inches away from touching $100,000. However, it was stopped at around $99,800 on most exchanges.
So, despite the community anticipating and predicting it, it failed to reach this mark for the first time. Since then, BTC has lost some traction and is currently down around two thousand dollars to $98,000. Nevertheless, its market cap has reached $1.940 trillion on CoinGecko, with a weekly increase of 7.2 percent. However, its dominance over altcoins has decreased further to 55.5 percent, bringing speculations about a potential altcoin season.
Altcoin projects on the rise
Many large-cap altcoins such as ADA, XRP, and DOGE made significant gains yesterday, but have pulled back significantly today. ADA fell 3 percent to below $1.05, XRP fell over 6 percent to below $1.45, and DOGE fell 7.5 percent to $0.43. In contrast, TON and DOT rose 11 percent and 17 percent to $6.25 and $8.9, respectively. XLM stole the show once again with a 29 percent increase. Stellar’s native token has gained more than 480 percent in the past month and is currently trading above $0.56. The total crypto market cap has decreased by about $50 billion since yesterday’s peak, but it still stands at close to $3.5 trillion on CoinGecko.
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