Ripple’s Fork Breaks Rising Records, Altcoins Leave BTC Behind

Ripple's Fork breaks rising records, altcoins leave BTC behind

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Market players note that the number of altcoins with large capitalization which surpass bitcoin in dynamics – continue to grow. How long will this situation last?

One of the leaders in recent weeks is Stellar (XLM). This is a fork of the Ripple project (XRP), at first XLM used the Ripple blockchain, but from the end of 2015, it started working on its protocol. The main purpose of the Stellar blockchain is to provide an exchange of cryptocurrencies for fiat currencies. Also, since 2018, Stellar has been one of the largest platforms for conducting ICOs.

Since the beginning of the year, XLM has demonstrated a 119% rise. The bullish trend persists all year, with a few dips down. The latest soar took place from June 28 to July 11, the coin increased by 52%, from $0.06342 to $0.09657. Before that, there were 2 more local maximums: $0.08548 in mid-February and $0.08498 in early June.

XLM’s “forefather” – XRP (Ripple) – also shows good dynamics. Over the week, it rose by 14%. Among the other leaders of the week with a capitalization of over $1 billion there are:

At the same time, bitcoin almost did not rise. On July 5 its price was $9015, on July 12 – $9230, the rise is about 2.4%.

Different experts have a different vision of the situation. For example, Altcoin Traders founder, a Dutchman known as CryptoAmsterdam, tweeted that “the altcoins party will end very soon.” To substantiate that he points out that the volatility of bitcoin on the lows is lasting for more than 70 days. Since 2017, this situation happened only 4 times. And each time after that there was a soar of 50-250%. According to the analyst, the third quarter is usually bearish.

Well-known analyst Nicholas Merten (DataDash) believes that high-cap altcoins can continue the rally in the long term. The only coin that he is worried about is Cardano (ADA). Nicholas Merten supposes ADA will crash after a long rally since the start of the year. Apart from the failure in March and April, the ADA is continuously growing from 3 cents at the beginning of the year to over 12 cents now. The dip in March-April is the result of a pandemic panic.

Since the ICO in 2017, when Cardano (ADA) raised $60 million, the project has already shown ROI (return on investment – return on investment) of over 460%. Cardano was founded in 2015 by Charles Hoskinson, one of the founders of Ethereum. Cardano blockchain uses the Proof-of-Stake consensus that Ethereum (ETH) has long been striving for through a series of updates and hard forks.