Bitcoin Cash

Solana

Citadel

April

Gains

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">Several altcoins have staged notable price gains over the past week, a trend reflected in the recent drop in Bitcoin’s (BTC) market dominance. The cryptocurrency that delivered the strongest returns over that period is Bitcoin Cash (BCH), soaring over 110%, while Litecoin and Solana have also seen significant returns.</p> 
<h3 id="upbit-edx-boosts-bch-7-day-gains-to-113">Upbit, EDX Boosts BCH 7-day Gains to 113%</h3> 
<p>Over the past seven days, the prices of Solana (SOL), Litecoin (LTC), and BCH have experienced substantial gains, rising more than 13%, 17%, and 113%, respectively. <a aria-label="Bitcoin dominance (opens in a new tab)" href="https://www.tradingview.com/symbols/BTC.D/?exchange=CRYPTOCAP" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Bitcoin dominance</a> has experienced a slump during this period as a result.</p> 
<p>This decline suggests a shifting investor sentiment and an increasing appetite for altcoins, and elevated expectations of the start of the so-called altcoin season – a period in the crypto market when the prices of alternative cryptocurrencies experience significant growth and outperform the market leader, BTC.</p> 
<p>As one can see, Bitcoin Cash has staged a particularly impressive price rally over the past week, adding around $1.2 billion to its market cap. The price surge can be attributed to several reasons. Firstly, BCH is one of the 4 tokens listed on the <a href="https://tokenist.com/is-wall-street-issuing-a-legitimacy-signal-for-crypto-with-edx-markets/" rel="dofollow" class="deco-link">EDX Markets</a> – a newly-launched digital asset exchange backed by major institutional investors such as Charles Schwab, Citadel Securities, and Fidelity Investments.</p> 
<p>Secondly, the cryptocurrency saw a drastic increase in trading activity on South Korea’s biggest crypto exchange, Upbit. This surge in activity was responsible for BCH’s latest 27% jump in the past 24 hours to $309.09.</p> 
<p>Meanwhile, SOL and LTC also experienced notable returns, with the former crypto asset set to undergo a halving event in August.</p> 
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<h3 id="bitcoin-dominance-retreats-after-hitting-a-26-month-high">Bitcoin Dominance Retreats After Hitting a 26-Month High</h3> 
<p>In line with the growing demand for altcoins, Bitcoin dominance – a key metric that measures the market capitalization of Bitcoin relative to the overall cryptocurrency market – has been on a downward trajectory.</p> 
<p>The slump comes after <a href="https://tokenist.com/bitcoin-dominance-surges-to-over-50-as-altcoins-bleed/" rel="dofollow" class="deco-link">BTC dominance hit</a> the highest level in over two years on Thursday, surging above the 52% level for the first time since April 2021. Since then, it has slightly retraced, standing at 51.78% at the time of writing.</p> 
<p>The rise in Bitcoin dominance came amid the recent institutional adoption hopes triggered by a series of <a href="https://tokenist.com/how-blackrocks-etf-application-has-already-changed-the-crypto-market/" rel="dofollow" class="deco-link">spot Bitcoin exchange-traded fund (ETF) applications</a> by prominent US traditional finance (TradFi) firms. This trend has propelled BTC above $30,000 for the second time this year.</p> 
<p>However, as BTC dominance reaches a certain level, it often encounters a resistance point. At this juncture, traders diversify their portfolios and explore altcoin investment opportunities.</p> 
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<p><em><strong>Do you think altcoins will continue to capture investor attention in the near term? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/bch-up-113-in-a-week-as-traders-expect-altcoin-season/">BCH Up 113% in a Week as Traders Expect Altcoin Season</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

BCH Up 113% in a Week as Traders Expect Altcoin Season

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