Ripple, Cardano lead altcoin surge as market cap nearly doubles to $1.55 trillion

Ripple, Cardano lead altcoin surge as market cap nearly doubles to $1.55 trillion
фото показано с : cryptoslate.com

2024-12-4 17:51

Bitcoin has captured much of the attention during the current bull market, especially after Donald Trump’s victory in the November elections. However, data reveals that altcoins have also performed remarkably during this period and even outperformed the flagship digital asset.

Data from Tradingview shows a significant surge in the broader crypto market cap, excluding Bitcoin. Over the past month, the total market cap of altcoins nearly doubled, growing from $872.8 billion to $1.55 trillion—a 75% increase.

Meanwhile, when the time frame is extended to the beginning of this year, the tokens have experienced a collective 100% growth from their market cap of around $734 billion to their current levels.

Crypto Total Market Cap Excluding Bitcoin (Source: TadingView)

This is unsurprising, considering large-cap altcoins like Ripple’s XRP, Cardano, Solana, and Hedera posted triple-digit gains, driving their valuations to new heights.

Moreover, when excluding the top 10 cryptocurrencies and focusing on the remaining assets, the market cap for this segment has also surged. According to Tradingview data, it has grown from $190 billion to $416 billion, reflecting a 110% increase.

Crypto Total Market Cap Excluding Top 10 Assets (Source: TradingView)

This altcoin rally, however, has come at the expense of Bitcoin’s market dominance. This has dropped by 9% from a mid-November peak of 61% to its current 55%.

Bitcoin Market Dominance (Source: Tradingview)

The post Ripple, Cardano lead altcoin surge as market cap nearly doubles to $1.55 trillion appeared first on CryptoSlate.

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