Altcoins Maintain Strength Despite Bitcoin’s Struggle Below $42,000

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While Bitcoin hovers below $42,000, altcoins continue to exhibit a strong stance. According to CMC data, only four altcoins achieved gains close to 10% in the last 24 hours. So, aside from DOGE, which gained following the X Payment announcement, which other altcoins are on the list?

Today’s Top Gaining Altcoins

Despite a drop of over $7,000 in Bitcoin at the start of 2024, altcoins are still on the rise. Leading the pack of rising altcoins, both weekly and daily, is Siacoin (SC).

Siacoin (SC) tops the list of today’s winning altcoins. SC investors breathed a sigh of relief with the recent surge, enjoying the rise as the price trades at $0.01262 following a 14% increase at the time of writing.

SC’s 24-hour trading volume saw an incredible increase of 281%, reaching $62 million. Overall volume also grew by 13%, hitting $708 million.

The second place on the list goes to Ronin (RON), which saw an 11.11% increase in price over the last 24 hours. Along with the daily rise, investors were pleased with the weekly gain, which exceeded 34%. At the time of writing, RON was trading at $2.43.

RON’s price increase was accompanied by a nearly 100% increase in 24-hour trading volume, highlighting the strong interest in the altcoin. The overall volume also saw an increase of over 8%, reaching a value of $687 million.

Lastly, Astar (ASTR) and Dogecoin (DOGE) became two of the day’s most notable altcoins. They rose by 10.95% and 9.76% respectively in the last 24 hours.

Following the announcement of “X payment” last evening, all eyes turned to Dogecoin, and DOGE did not disappoint investors, quickly rising and surpassing the $0.09 mark, though it later experienced a slight pullback.

Current Bitcoin Situation

Despite sharp increases in altcoin prices, Bitcoin’s price fell from $49,000 to below $41,000 but then recovered to $41,600. Following the ETF news, investors are curiously waiting for when Bitcoin’s price will rise again.

At the time of writing, BTC price found buyers at the $41,800 level with a 0.54% increase over the last 24 hours. Bitcoin’s market cap also rose by 0.5%, reaching $820 billion.

The significant impact was seen in the trading volume, which experienced a 55% increase, indicating a shift of interest from Bitcoin to altcoins. The value was perhaps lower than usual, being below $10 billion, possibly due to the weekend.