Bitcoin has started facing competition from alternative coins (altcoins), on the basis of data by Cointelegraph. According to the publication, figures from CoinMarketCap and TradingView shows that BTC is currently making up around 41% of the overall cryptocurrency market capitalisation, which has reportedly been its lowest since the start of 2022.
As stated by Cointelegraph, altcoins have rallied considerably in the last few months after facing competition from Terra LUNA, now renamed Terra Classic (LUNC). With Bitcoin’s return from 18 month lows of $17,600 in June, altcoins are now giving competition to Bitcoin bulls. CoinMarketCap’s data stated that Bitcoin’s market capitalisation is at its lowest currently since middle of January, with Ether coming to the limelight in recent weeks. From 14.3% market capitalisation on June 19, Ethereum market capitalisation is now at 19%. Through a normalised score of 94 out of 100, the Altcoin Season Index has been considered convincing since...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...