Quarter 1 Of 2019 Was Bullish Altcoin Season As DASH, LTC, BNB & XTZ Prices Soared By 100%
Alt Season Is Kicking In: DASH, LTC, BNB & XTZ prices Soared By 100% In 2019
The cryptocurrency market has shown steady gains since the start of the year as markets reversed from a downfall trend that saw Bitcoin lose 70% of its value during 2018. However, the rising market is not a factor of BTC but altcoins across the board. Since the start of January, the total market capitalization of the cryptocurrency market stood at $125 Billion USD, a figure that currently stands at $145.3 Billion. The 12% hike in price in Q1 2019 is the highest quarterly spike since February 2018 signaling signs of a greater bull run in the near future.
The dominance of BTC has scrapped off 4% of its dominance since January with the dominance level currently at 50%. The big cap coins (including Ethereum and XRP) have witnessed a lower dominance level as other coins increased their dominance levels exponentially. Ethereum (ETH), the second largest cryptocurrency dominance dropped from 12.56% in January to 10.33% on April 1st. Ripple (XRP) dominance is also shrinking, from 11.44% in January to 8.94%.
Chart showing percentage of dominance by ETH, XRP, LTC, DASH and IOTA (Image from Coinmarketcap)
Altcoins such as Litecoin (LTC), Dash (DASH), Tezos (XTZ) and Binance Coin (BNB) are taking control of the current bullish momentum in the market with soaring prices last seen in November 2017.
Dash (DASH), a privacy-based coin, is currently trading at $114.59 USD, representing 11.30% increase in price in the past 24 hours. The coin traded at $78.60 USD at the start of the year, representing a 45% increase in price to date.
Binance Coin (BNB) is the shining star of the cryptocurrency exchange tokens and it has not disappointed a bit during the last 3 months. BNB has doubled its price since January 1st when it traded at $6.07 USD to today’s price at $17.35 USD. The coin shows no signs of slowing however after reaching the seventh position on the Coinmarketcap rankings. BNB currently has a total market cap of $2,448,294,062 USD.
Tezos (XTZ) is also one of the shining altcoins following the massive gains the coin has faced in the last 90 days. XTZ has risen to 17th on the market capitalization list trading at $1 USD and with a market cap of $663,980,427 USD. Tezos price soared 117% since the start of the year.
Finally, Litecoin (LTC) price also surged over the course of 2019 from $30 USD to a current price of $60 USD. The sharp rise in price has seen the coin regain its place amongst the top 5 cryptocurrencies in terms of market cap with a total market capitalization of $3,716,521,757 USD.