{"id":243942,"date":"2021-05-07T01:04:39","date_gmt":"2021-05-06T22:04:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/altcoins-rally-as-bulls-pile-into-large-cap-tokens-and-layer-1-projects\/"},"modified":"2021-05-07T01:04:39","modified_gmt":"2021-05-06T22:04:39","slug":"altcoins-rally-as-bulls-pile-into-large-cap-tokens-and-layer-1-projects","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/altcoins-rally-as-bulls-pile-into-large-cap-tokens-and-layer-1-projects\/","title":{"rendered":"# Altcoins rally as bulls pile into large-cap tokens and layer-1 projects"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4148165d4ee\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4148165d4ee\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoins-rally-as-bulls-pile-into-large-cap-tokens-and-layer-1-projects\/#Layer_1_solutions_soar_as_trading_volumes_increase\" >Layer 1 solutions soar as trading volumes increase<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoins-rally-as-bulls-pile-into-large-cap-tokens-and-layer-1-projects\/#Bitcoin_dominance_drops_to_new_lows\" >Bitcoin dominance drops to new lows<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Altcoins rally as bulls pile into large-cap tokens and layer-1 projects <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>The cryptocurrency market provides investors with another day of &#8216;altseason&#8217; as the majority of altcoins in the top 100 on CoinMarketCap rallied today. <\/p>\n<p>Several large-cap tokens reached multi-year highs and this all took place as Bitcoin (BTC) price struggles to hold any of the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>-event-driven gains that it has accrued throughout the week.\u00a0<\/p>\n<p>One of the most notable performances has been put on by Ethereum Classic (ETC), the \u201c<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/swapzoneio\/status\/1390018710652473346\">unaltered<\/a>\u201d Ethereum (ETH) fork that has been gaining traction over the past week as its dedication to a proof-of-work consensus mechanism attracts the attention of miners and retail &#8216;Robinhood&#8217; investors.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/b0207585-0b61-477c-9dfc-0594c427ce94.png\"><figcaption style=\"text-align: center;\"><em>ETC\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/ETCUSDT\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Data from Cointelegraph Markets and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/ETCUSDT\/\">TradingView<\/a> shows that after hitting a low at $86.12 in the early trading hours on Thursday, the price of ETC jumped 81% to reach a new all-time high at $179.83 as the 24-hour trading volume spiked to a record $39.1 billion. <\/p>\n<p>Several large-cap cryptocurrencies have seen significant gains recently including, Litecoin (LTC) which hit a one-year high compared to BTC, and a 68% rally in Bitcoin Cash (BCH) which spiked above $1,500 for the first time since May of 2018. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Layer_1_solutions_soar_as_trading_volumes_increase\"><\/span>Layer 1 solutions soar as trading volumes increase<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ether also hit a new all-time high at $3,605\u00a0as excitement continues to build ahead of the London hard fork and the implementation of EIP-1559, which is expected to take place in July. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Major <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> gas fee overhaul <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/EIP?src=hash&amp;ref_src=twsrc%5Etfw\">#EIP<\/a>-1559 scheduled for July, in the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/London?src=hash&amp;ref_src=twsrc%5Etfw\">#London<\/a> network upgrade <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/mQrxvSt7aa\">https:\/\/t.co\/mQrxvSt7aa<\/a> via <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Cointelegraph?ref_src=twsrc%5Etfw\">@cointelegraph<\/a><\/p>\n<p>\u2014 Attestant \u27e0 (@AttestantIO) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AttestantIO\/status\/1368715152535748608?ref_src=twsrc%5Etfw\">March 8, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Cardano\u2019s ADA token is another top 10 project that saw its price reach a new all-time high at $1.69 and Tezos (XTZ) rallied 23% after the start of the trading day to reach a new record high at $8.05. <\/p>\n<p>Several of the \u2018Ethereum Killers\u2019 that arose out of the 2017-2018 bull market saw double-digit gains including EOS, whose price rallied 50% intraday to a peak of $12.57, and Neo (NEO), which spiked to a high above $128 before a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> market pullback led to a dip in the majority of prices. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_dominance_drops_to_new_lows\"><\/span>Bitcoin dominance drops to new lows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The steady strength shown from altcoins has led to a steady decline in Bitcoin dominance over the past month, which dropped to a low of 45.25% on May 6. According to analysts, this is yet another sign that an altcoin season is in full effect. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/6b5bcd61-d707-4624-9800-ecbe225db5d7.png\"><figcaption style=\"text-align: center;\"><em>BTC market cap dominance 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/CRYPTOCAP-BTC.D\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>While institutions <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear to heavily favor Bitcoin and to a lesser degree Ether, retail traders have been drawn to lower-priced tokens that offer the possibility of larger gains, as evidenced by the recent price explosion\u00a0in Dogecoin (DOGE).<\/p>\n<p>If this trend continues, it&#8217;s likely that Bitcoin&#8217;s dominance rate could continue to slide lower as new funds coming into the cryptocurrency ecosystem through stablecoins are more widely distributed. <\/p>\n<p>The overall cryptocurrency market cap now stands at $2.346 trillion and Bitcoin\u2019s dominance rate is 45.5%.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/altcoins-rally-as-bulls-pile-into-large-cap-tokens-and-layer-1-projects\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Altcoins rally as bulls pile into large-cap tokens and layer-1 projects &#8221; The cryptocurrency market provides investors with another day of &#8216;altseason&#8217; as the majority of altcoins in the top 100 on CoinMarketCap rallied today. Several large-cap tokens reached multi-year highs and this all took place as Bitcoin (BTC) price struggles to hold any&#8230;<\/p>\n","protected":false},"author":1,"featured_media":243943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNzhhNDIxM2UtNjkzMC00OTBiLWJiZTktMmRkZDlhNTU3NzE5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74862,75163,74863,86883,74904,74891,75326,75499,75162,76111,75150,76175,75037,73785],"class_list":["post-243942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-bitcoin","tag-bitcoin-cash","tag-cryptocurrencies","tag-dogecoin","tag-eos","tag-ethereum","tag-ethereum-2-0","tag-ethereum-classic","tag-litecoin","tag-litecoin-price","tag-market-update","tag-neo","tag-tezos","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/243942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=243942"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/243942\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/243943"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=243942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=243942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=243942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}