Bitcoin has once again reached the psychological $100,000 mark, but it’s altcoins that are leading the charge in crypto markets on Thursday. As alternative currencies regain popularity, many are curious about the future of these digital assets.
On this auspicious Thursday, Ethereum surged by a whopping 11%, breaking the $2,000 barrier for the first time since March. This is a remarkable feat, especially considering that it is the first time in a long time that ETH has surpassed BTC, which rose by a modest 2.7%. Smaller altcoins such as Dogecoin and Cardano also managed to gain more than 8%, while Sui even rose by 13.8% and Bitcoin Cash by 14.3%. The biggest winner among the top 100 coins is Pudgy Penguins, which is up a whopping 27% since yesterday.
The altcoin rally has sparked a wave of social media speculation about the possibility of an “altseason” — a period in which alternative coins outperform Bitcoin. But it may be too early to cheer. Despite the growing interest in altcoins, Bitcoin’s dominance remains at an all-time high of 64%. Analysts are cautious, warning that this could be a signal to investors.
CryptoQuant analyst Ki Young Ju sounded the alarm earlier this year, stating that “the days of everything going up are over” and that “most altcoins will not survive.” He stressed that it was especially those altcoins involved in ETF filings — such as XRP, Solana, Cardano and Litecoin — most likely to flourish in 2025. Santiment's research also shows that the growth in the number of mentions of "altcoins" on social media could indicate a "red flag".
Brian Quinlivan also warned that the enthusiasm for altcoins should not lead to carelessness. "History tells us that the best times to get in are when the masses are completely uninterested," he said. The market's volatility, caused in part by Donald Trump's tariffs, further complicates the situation.
While this day may seem like a green day for crypto, the future remains uncertain. The current rally is making comparisons to previous cycles waver and many investors are holding their breath. For now, it’s still a thrilling ride with many questions. Will the rise of altcoins continue? And who knows, maybe they’ll soon be flying in all directions!
Why do altcoins rise when Bitcoin also grows?
Altcoins are leading the way with impressive gains, while Bitcoin is only growing modestly. This could signal the arrival of an "altseason."
Is it safe to invest in altcoins?
Investing in altcoins offers opportunities, but also risks. It is essential to do proper research and pay attention to the signals in the market.
What does Bitcoin's dominance say about the crypto market?
Bitcoin's strong dominance (64%) indicates that it is still the king of the crypto market, but the growth of altcoins could change the dynamics.