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Bitcoin and altcoins

Here Are The Altcoins That Are Outperforming Bitcoin

Best Owie by Best Owie
2 months ago
in Altcoin, Bitcoin
Reading Time: 3 mins read

Bitcoin has seen some good gains in the last day which eventually saw the digital asset climb over $29,000 for the first time in nine months, albeit briefly. But despite the price gains that the digital asset has seen in this time, it is still not the best performer in the crypto market as some altcoins continue to put up impressive rallies.

ARB, CFX, And 1INCH Make A Splash

As the week draws to a close, there have been some interesting movements from both Bitcoin and altcoins in the market. However, some altcoins continue to rise above and have been mostly in the green, especially in the last two days.

The digital assets that have been able to maintain their gains during this time include Conflux (CFX), Arbitrum (ARB), and 1inch Network (1INCH). At a time when altcoins are struggling to keep up with Bitcoin’s gains, these assets continue to outperform.

Related Reading: Bitcoin In Free Fall As Regulators Turn Their Attention To Binance

In the last 24 hours, each of these digital assets has risen over 9%, sparking major interest in them. CFX which has been on a bullish momentum for the last week saw another 11.79% gain in the one-day period, bringing its price per coin to an impressive $0.4241.

Next is 1INCH which has managed to claw its way out of obscurity and back into the spotlight. The token rose 10.16% in 24 hours to be trading at $0.5595. Its trading volume has also seen a major boost during this time as it rose over 231% to $80.9 million.

Bitcoin vs Altcoins

Altcoins see higher gains than BTC | Source: Coinmarketcap

Following behind is ARB with 9.38% gains. Now, ARB is interesting in that the coin was airdropped to users of the Arbitrum Layer 2 blockchain, and massive dumping followed shortly after, as expected. But after hitting a local low of $1.11 on Tuesday, the cryptocurrency has been on an uptrend since then. It is now trading at a price of $1.36, making it the third-highest gainer behind 1INCH.

Bitcoin Not Giving Up To Altcoins

Even though these altcoins continue to outperform Bitcoin, the pioneer cryptocurrency is not giving up easily. It has been able to maintain the $28,000 territory despite mounting pressure from bears. It is also holding consistent gains on the weekly chart, which is not the same for most altcoins.

Bitcoin price chart from TradingView.com

BTC still trading above $28,600 | Source: BTCUSD on TradingView.com

Bitcoin’s recovery is also moving the market, determining if investors remain bullish or not. Right now, as long as BTC continues to return gains and stay above its 50-day moving average, it remains on a path to re-enter a complete bull market.

Related Reading: Arbitrum, Optimism, And Polygon: Which Is The Ultimate Ethereum L2?

Bitcoin is seeing gains of 0.72% in the last 24 hours to be trading at a price of $28,682 after briefly hitting $29,140, according to data from Coinmarketcap. Its trading volume is up 13% on the day and is now sitting above $22 billion.

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from Binance, chart from TradingView.com
Tags: 1INCHaltcoinaltcoinsARBbitcoinbtcbtcusdCFX
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Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors. Best is a true professional in every sense of the word with an exceptional dedication to producing high-quality work.

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