Erik Weijers, 2 years ago

Altcoins jump out of months-long downtrend

Last week, on March 16, the altcoin market broke out of a a months-long downtrend. Since bottoming out on February 24, the altcoin market as a whole is up over 28%. We list a few alts.

As is often the case in the crypto markets, Bitcoin moved ahead of the rest. Also in recent weeks. The king among crypto dropped to its low earlier than most alts: on January 24. On February 4, Bitcoin broke its own downward trend.

In the graph is the total market cap of all crypto minus BTC, so the value of all alts added up.

How did these altcoins do?

  • Ethereum (ETH): 41% since the bottom. ETH reached its low point earlier than most alts: like BTC on January 24.
  • Cardano (ADA): climbed 51% since the low. Cardano has been pumping especially hard in the last week. Perhaps helped by the news that Coinbase is introducing ADA staking.
  • Terra (LUNA): Terra is doing great and has already gained 118% since the low in late January. Good news keeps coming in. LUNA even set a new all time high on March 9.
  • Thorchain (RUNE): has outperformed almost all coins in recent weeks. Had to come a long way though, and is nowhere near all-time highs.
  • Axie Infinity (AXS): 50% since the bottom, including 21% in the last two days. Still way below the 2021 high though.
  • Dogecoin (DOGE): 29% since the low, including 12% in the last two days. Doge still has a lot of ground to gain from the 2021 top.
Featured articles
Four trading strategies for crypto
Bitcoin and Ethereum: what are the differences?
What determines the Bitcoin price?
Related articles
Hacker of Tornado Cash proposes to undo attack

May 22, 2023

On Saturday, Tornado Cash's DAO was taken over by an attacker, or group of attackers. It's another backlash for the plagued coin mixer which makes privacy for Ethereum holders possible. In an interesting turn of events, a day later the attacker proposed to undo his attack. Never a boring day in crypto!

Trade anytime, anywhere

Boost your trading impact and reaction time in over 80+ cryptocurrencies via instant access to your portfolio with the LiteBit app.

App Store
Google Play Store
  • 2525 Ventures B.V.
  • 3014 DA Rotterdam
  • The Netherlands
More info
  • Support
Subscribe for updates

Sign up to stay informed via our email updates

Subscribe
Explore popular coins
    © 2023 LiteBit - All rights reserved