The altcoin season is upon us, and at this game some are more successful than others. For now, it is Cardano (ADA) which is among the most important progressions: the cryptocurrency has succeeded in crowding out Bitcoin Cash (BCH) in terms of capitalization.
Cardano (ADA) takes + 61% in two days
Cardano’s ADA had surged above $ 0.18 at the end of November, and its price has then stabilized between $ 0.12 and $ 0.17 since. But things have just changed. Since January 3, the Bitcoin Millionaire operated a rise sharply, taking over 6 3 % in the space of 48 hours :
Altcoin hit $ 0.35 early this morning . The breakthrough in the ADA price is not isolated, with all cryptocurrency markets experiencing a bull run at this time. But it should be noted all the same that the Cardano project had shown signs of solidity at the end of 2020, with a gradual decentralization and an opening of its smart contracts to all programming languages .
Alts season reshuffles the cards for major altcoins
We told you earlier this week, Ether (ETH) had jumped in the context of a bull run for Bitcoin (BTC) , which yesterday exceeded 35,000 dollars . The other less capitalized altcoins are therefore following the example, and this gives some changes in the top 10 cryptocurrencies by capitalization. The XRP Ripple and litecoin (LTC) battling fiercely for several days and exchange the 4th and 5th place.
Since yesterday, Cardano (ADA) has also climbed in the rankings. The increase in the price allowed its market cap to climb to 10.36 billion dollars. It now surpasses that of Bitcoin Cash ($ 8.43 billion) and Polkadot’s DOT , which also steals its place ($ 9.59 billion).
Outside of the top 10, we also noted yesterday a return to glory for Stellar (XLM) , which took + 130% in one day , probably driven by the setbacks of Ripple. Altcoin is now installed in seventh place in the ranking. But nothing is settled: price volatility is at its highest, so other altcoins could hold some surprises.