Expert Voices Skepticism On Altcoins Rally Altcoins have shown impressive gains, with tokens like Solana (SOL) reaching new all-time highs, while many others have more than doubled in price since the beginning of the year. Historically, altcoins tend to outperform Bitcoin during market rallies but can also experience sharper declines during downturns due to their higher volatility and lower trading volumes.
ETF Approval Hopes Could Boost Crypto Interest Under Trump While Solana stands out as the only major altcoin to surpass its previous highs this year, experts like Nikolay Karpenko from crypto trading firm B2C2 believe this rally could differ from the 2021 experience. The expert highlighted the industry’s maturity over the past few years, which has seen improvements in risk management and the entry of "more strategic” and institutional investors into the crypto space.
As altcoins continue to gain traction, data shows that trading volume has become increasingly concentrated among the five most traded altcoins, rising from less than 50% earlier this year to over 60% this month. This shift can be attributed to unique factors affecting individual cryptocurrencies, such as Solana’s rise fueled by excitement over potential exchange-traded fund (ETF) approvals and Dogecoin’s gains related to its payment capabilities and support from figures like Elon Musk and his new position at the Department of Government Efficiency (DOGE).
The story "Altcoins See Massive Inflows Amid Bitcoin’s Record Rally, But 2021 Bubble Warnings Persist" has 543 words across 75 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Altcoins See Massive Inflows Amid Bitcoin’s Record Rally, But 2021 Bubble Warnings Persist" was covered 12 hours ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 7 news stories per day.
It's most recent story was published 10 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
