While Bitcoin’s price took a sharp 6.16% dip from its all-time high of $98,975.79 on Nov. 22, altcoins are thriving. The Altcoin market cap climbed 2.38%, with Ethereum (ETH), Sandbox (SAND), and Stellar (XLM) leading the charge.
Bitcoin’s Correction: A Quick Look
- BTC dropped by 5.9% in the last 24 hours, marking its steepest correction since Nov. 5.
- Despite a 37% rally post-election, BTC’s journey to the $100K milestone is on pause.
- Bitcoin dominance shrank from 61.14% to 58.80%, signaling altcoin resurgence.
Altcoins in the Spotlight
Ethereum (ETH): The Steady Climber
- 7-Day Growth: +8.3%, outpacing BTC’s 1.6%.
- Price Action: ETH hit $3,327.90 on Nov. 22 and has since risen 1.19%.
- 30-Day Surge: A stellar 36.5% gain underscores Ethereum’s potential to outperform.
Sandbox (SAND): Metaverse Marvel
- 30-Day Growth: +147.5%, reflecting renewed interest in metaverse tokens.
- Record Moves: On Nov. 24, SAND spiked 76.33% in a single day, peaking at $0.7711.
- Since Nov. 5: An astronomical 177.79% increase.
Stellar (XLM): Korea’s Favorite
- 7-Day Growth: +101.3%.
- 14-Day Growth: +275.5%.
- Since Nov. 5: A jaw-dropping 408.26% rise, bolstered by political developments in Korea.
Why It Matters
As Bitcoin falters, altcoins are capturing investor interest, challenging BTC’s dominance. The shift to utility-focused tokens like ETH and niche sectors like metaverse (SAND) and international payments (XLM) underscores the diversification of the crypto market.
Bitcoin Drops 6%, Altcoins Shine: Ethereum, Sandbox, and Stellar Surge was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.