The year has been a rollercoaster of sorts for the cryptocurrency space. From the beginning with the uptrend to the mid-term decline of cryptocurrencies, to the Evergrande and FUD crisis. The charts were fluctuating. However, professional traders are well versed in the game. And they are waiting for the bullish race in the fourth quarter.
Despite the odds, the space worked well. Altcoins have been stealing the spotlight from stellar cryptocurrencies. Respectively, many investors created fortunes from their holdings. Netizens compare the year’s stats with those of 2017. Indicating that a bullish revolution is around the corner.
How successful are Altcoins on the Big Bull?
BTC price in $4270.97out of existence $29,022.42 The first day of 2021 press time. The Star Coin gave revenue of ~ 300% for the year. Since ETH is currently located in $2937.52 from $738.62 On January 1, 2021. Revenue for the year stands at ~740%. ADA has grown to $2.37 From its very beginning $0.182 On the first of January. Returns are whooping ~ 2750%.
Likewise, many other coins have grown exponentially. Possible reasons why ALT coins outperform Bitcoin are as follows:
- Higher volatility, which also means faster gains.
- Inherent capabilities and key developments such as scalability, transaction time, fees, interoperability, smart contracts, and more.
- Enthusiasts are more inclined to the Layer 1 protocol than the Layer 2 protocol.
- Launch of dApps, De-Fi and NFTs.
- Development of societies and conferences.
Cryptocurrencies like Cardano, Polkadot, Solana, and others have created a lasting impact in the industry. Cardano for example is currently trending on the charts, although most notable ones have dwindled. However, the trend has a lot to do with the scheduled Cardano Summit. Similar events can be held by other platforms as well, which brings momentum to the ecosystem.
BTC is old, but higher?
Bitcoin has gained massive acceptance and mass adoption in recent times. Helping this ecosystem develop as an inflation hedge, it is now relatively less volatile. Respectively, BTC is gaining a lot of interest among the new investors in cryptocurrency trading. Hence, it is worth noting that BTC remains the currency of choice for its holders. Netizens believe it is set to rise by leaps and bounds in the long run. Perhaps, like what a compounder does on long-term investments.
In short, it is great to see Altcoins rising in the market charts and offering real-time solutions. On the contrary, BTC still has the upper hand. It holds the lion’s share of the market value which makes a noticeable difference, even with slight changes.