These Altcoins Benefited Most From Tuesday’s Bitcoin (BTC) Breakout
Tuesday started off with major fireworks when Bitcoin (BTC) finally broke out above $4,200 and then quickly ran to $5,000 before pulling back and then moving higher later in the day. While some altcoins have sold off in the wake of Bitcoin’s meteoric rise, other digital currencies have followed the largest digital currency’s lead.
According to data from Messari, 21 small, mid and large-cap altcoins outperformed Bitcoin on Tuesday. This number jumps to 38 if you include microcap coins (under a $10 million market cap). Of the top-20, Bitcoin Cash (BCH) was the best performer, gaining over 55%.
A look at the top-15 gainers in the AltDex 100 Index (ALT100), a benchmark index for the 100 largest cryptocurrencies, underscores the relative outperformance of the top-10 largest digital currencies.
Following Tuesday’s massive rally the total crypto market is up 15.8% to $175.5 billion, with Bitcoin making up 50.4% of this total.
More: Messari’s OnChainFX
Related: Bitcoin (BTC) Price Surges to $4,750
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.