Altcoins After BTC Hitting $40.000

by in Cryptocurrency News

Altcoins BTC rally

On January 7, Bitcoin set a new all time high, breaking $40.000. The next day the price surpassed $41.000. Rate growth of various altcoins followed this, proving the bullish movement to be really strong.

The trading volume of the leading cryptocurrency reached $99 Billion. At the moment, BTC is traded for $40.650. Institutional investments in cryptocurrencies keep increasing. Grayscale Investments CEO Michael Sonnenshein informed that pension funds have started to employ the Grayscale family of funds to invest in BTC.

With all these, Bitcoin dominance rises. Altcoins are facing increasing sell pressure.

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Ether price (ETH) is currently $1,216. The market cap of the second-largest cryptocurrency reached around $140 Billion. This brought it to 72nd place in the list of the top 100 assets.

Polkadot (DOT) and Stellar Lumens (XLM) both lost more than 6% and are shopping at $9.15 and $0.312 consequently. The total cryptocurrency market cap now is $1.05 trillion and Bitcoin’s dominance estimate is 70.5%.