Several altcoins continue growing in the cryptocurrency market despite Bitcoin’s price pause. The largest cryptocurrency in the world has stopped growing after reaching $18,400, but altcoins continue to move higher. Ethereum (ETH), Litecoin (LTC) and Polkadot (DOT) are showing the largest gains among the top 10.
Altcoins Continue Growing
The cryptocurrency market seems to be growing and altcoins are reacting in a positive way. In recent weeks, Bitcoin was able to grow to $18,400 but other virtual currencies didn’t experience such large gains. However, in recent days, we have seen how Ethereum, Litecoin, Polkador or XRP started moving higher once again.
Ethereum, for example, is now being traded at its highest point since 2018. This shows the strength of this current trend for some altcoins in the market. Each ETH can now be purchased for $485 and it has a market valuation of $55 billion. Ethereum developers are working in order to release Eth2 and offer users the possibility to pay lower transaction fees and make the network more efficient.
Litecoin is also growing and registering large gains for users. The 6th largest cryptocurrency was the largest top 25 gainer in the last 7 days. This massive crypto project continues to attract the attention of investors from all over the world.
Although Litecoin has still a long way to go to surpass its local high in 2019, it is moving in the right direction. Despite that, it would need more explosive moves if it wants to end the bear market against Bitcoin (BTC) that started several years ago.
Finally, XRP and Polkador are also moving higher in the cryptocurrency market. These two virtual currencies have been working on their own projects trying to offer better services to users. Ripple is working on several projects to improve money transferring all over the world. This allowed XRP to reach $0.30 in recent hours, a 17% increased compared to last week.
Polkadot wants to recover the 7th position that is now controlled by Bitcoin Cash (BCH). This is the only top 17 cryptocurrency registering losses in the last weeks. If the trend continued, Polkadot could easily move higher and surpass BCH.
Bitcoin could certainly surpass its all-time high in the coming weeks. According to Greg Weisman, the co-founder and COO of Mercury.io, there could be a corrective move in Bitcoin followed by an uptrend wave that could push it above $20,000 for the first time in history.