Bitcoin Market Dominance Drops Down to 52%, It’s Time for Altcoin Season (ETH, XRP, XLM)


  • Bitcoin price in red, Dominance falls
  • XRP ripe for gains while XLM up more than 16% despite network failure
  • Total market cap reaches $247 billion, last hit in August 2018

Bitcoin has turned red by 1.05 percent as it drops down from $8,390, the new 2019 high achieved today to $7,865, at the time of writing. As the price of leading cryptocurrency takes a dip, BTC dominance also falls down. From going above 60 percent to the December 2017 level, today it has tumbled to 52 percent.

As crypto trader and investor Josh Rager points out, as Bitcoin makes a pullback, it’s time for altcoins to enjoy significant gains.

Ethereum

The second largest cryptocurrency has been one of the biggest gainers in the current rally. In the month of May, Ether surged from $158 to $274 and till date in 2019, it is up by over 87 percent. Currently, ETH is trading at $246 with 24-hours gains of nearly 10 percent.

ETH/USD chart, Source: TradingView

Ethereum has been seeing a lot of bullish news and just recently one of the world’s largest electrical companies, EDP launched its visual simulator software GPUSPH on iExec, a decentralized application that operates on Ethereum.

XRP

The third largest cryptocurrency has officially turned bullish as it climbs to 6-months high level. Recently, we reported how crypto trader Hsaka shared that the time to be bearish on XRP is over as it will be the frontrunner in altcoin rally.

“XRP is pumping of the lows extremely quickly leaving sideline investors stuck in BTC,” said Hsaka.

Currently, it is trading at $0.4169, with 24-hours loss of 2.31 percent.

Stellar (XLM)

One of the biggest gainers of today is Stellar that is up 16 percent in the past 24-hours and is currently trading at $0.14. XLM started surging at $0.086 on May 10th and climbed to $0.162 today that was last hit in early December. Back in March end, crypto trader, Benjamin Blunts has stated:

“$XLM is my biggest alt position right now.”

This happened while the Stellar network went down. What happened was the Stellar Development Foundation (SDF) validators went down and as the majority of the Stellar validators chose to go with SDF the whole network wasn't able to reach consensus.

This led to a level of centralization that has some of the Stellar community concerned about having a single point of failure.

The altcoins have already started seeing the surge with Clipper Coin being the biggest gainer that is up 71 percent while NEM is rising by 28 percent.

The green market also has the total market cap reaching $247 billion, that was last hit in early August 2018.

bitcoin price paragraph =

Bitcoin’s price is $57,223.95 BTC/USD exchange rate today. The real-time BTC market cap of $1.08 Trillion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $21.01 Billion and live coin value change of BTC 5.42 in the last 24 hours.

live bitcoin price widget =

Live Bitcoin (BTC) Price:

1 BTC/USD =$57,223.9488 change ~ 5.42%

Coin Market Cap

$1.08 Trillion

24 Hour Volume

$21.01 Billion

24 Hour VWAP

$56.79 K

24 Hour Change

$3,100.88

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