As Bitcoin continues its race to break the $100,000 mark, altcoins are raking in massive gains. Ethereum (ETH), the second-largest cryptocurrency, climbed 3.25% to $3,424.59 on Saturday, but its weekly gains of 7.83% exceed that of Bitcoin, CryptoSlate data indicates. The price of the largest altcoin is, however, still nearly half of its all-time high of $4,864.11 while its market cap stands at $409 billion.
Solana (SOL) posted meager gains of 0.24% on Saturday, but its price is up 19.35% over the past seven days. SOL price reached an all-time high of $264 on Friday. The price of Dogecoin (DOGE) climbed 15.12% over the past week and stood at $0.42 at the time of writing. DOGE price is up by over 37% compared to last month.
Although XRP price fell by 2.34% today, the cryptocurrency’s price has climbed by over 180% over the past month.
Among the top 10 altcoins, Cardano (ADA) posted the highest gains over the past week, climbing 36.81% to $1.03 with a market cap of $36 billion at the time of writing. On Saturday, the altcoin bagged gains of 7.12% while ADA price has grown by more than 200% over the past 30 days.
Avalanche (AVAX) also amassed significant gains of 18.8% over the past seven days with its price reaching $41.43 on Saturday. Over the past month, the price of AVAX has grown by over 60%.
Tron (TRX) price rose nearly 6% on Saturday to reach $0.21. Over the past 30 days, the altcoin has bagged gains of over 28%. On the other hand, Ton (TON) price grew by nearly 16% on Saturday to $6.36. The altcoin’s monthly gain stands at around 85%.
The price of Stellar (XLM) rose by over 66% today to $0.49. Over the past month, the altcoin’s price has increased by 430%, data shows. Polkadot (DOT) price grew by 35.93% over the past 24 hours and stood at $8.60 at the time of writing.
Today’s biggest gainer is Kusama (KSM), which grew by over 111% over the past 24 hours to $46.05 at the time of writing. But even with today’s gains, the altcoin’s price is still 93% below its all-time high.
A sustained positive movement in Bitcoin price has almost always triggered a rally among altcoins, and it is no different this time. Since Donald ***** won the U.S. presidential election earlier this month and boosted market optimism, Bitcoin price has soared, growing 44% over the past 30 days. Even with Bitcoin in the red on Saturday with a dip of 1.01%, it is still on track to reach $100,000 over the next few weeks and the altcoins are following the trail.
The post Altcoins bag massive gains amid Bitcoin’s climb: Stellar, Cardano and Kusama up double digits appeared first on CryptoSlate.