As a seasoned crypto investor with a knack for spotting hidden gems amidst the market noise, I’ve learned to keep my eyes open and my portfolio diversified. While Bitcoin remains the king, it’s always intriguing to see newcomers like Hyperliquid (HYPE) make a splash. The past day was no exception, as BTC stayed relatively flat around $97K, while HYPE led altcoin gains and achieved a market cap of over $3 billion in just two days since its airdrop.
In simple terms, over the last day, the overall value of all cryptocurrencies didn’t see much change because Bitcoin and many other major coins did not record substantial increases in their values.
Absolutely, it’s important to note that there are a few exceptions to this rule, one of which is the recently popularized Hyperliquid token. Let’s delve further into this topic for more insight.
Bitcoin Price Flat Around $97K
Over the last 24 hours, Bitcoin has shown minimal fluctuations and is currently experiencing a slight rise of approximately 0.4%.
Generally speaking, its value dipped below $97,000 quite often, almost touching $96,000 at a certain point. However, the buyers stepped in promptly to halt the downward trend, as evidenced by the chart shown below.
Despite continued focus on Bitcoin due to predictions of it surpassing $100,000, it’s worth noting that its dominance within the crypto market, which measures Bitcoin’s share compared to other sectors, has been decreasing recently.
Over the last week, it dropped by over 3%, indicating a strong surge in altcoins as they take a firmer position. A notable case in point is the recently distributed token – Hyperliquide (HYPE).
HYPE Leads Altcoin Gains
In just a few days after being distributed to users, Hyperliquid (HYPE) has surpassed $9 in trading value, amassing a total market capitalization of over $3 billion. This rapid growth is truly remarkable and sets HYPE as the standout performer among the top 100 cryptocurrencies following its distribution.
Today, Brett (BRETT) and Hedera’s HBAR are the standout performers, each surging by over 20% within the last 24 hours.
Currently, most well-known cryptocurrencies like Solana (SOL), Ethereum (ETH), Dogecoin (DOGE), Cardano (ADA), Avalanche (AVAX), Ripple (XRP), and others are showing little change over the past day. Their price movements vary slightly, with a fluctuation of around -2% to +2%.
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2024-12-01 13:40