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Cryptocurrencies: 12,885
Markets: 942
Marketcap: $ 2.10 T(0.32%)
24h Vol: $ 59.98 B
BTC Dominance: 48.13%

Bitcoin Dominance Drops Below 50% as Altcoins Soar: Ripple’s Legal Win Ignites Crypto Market

Bitcoin Dominance Falls Below 50% as Altcoins Surge

Key Points:

– Bitcoin (BTC) dominance dropped below 50% following Ripple’s partial victory against the SEC.
– BTC dominance had been hovering around 51% and 52% for the past few weeks.
– Altcoins such as XRP, Ethereum, Cardano, Solana, Polygon, and Stellar Lumens saw significant gains.
– XRP skyrocketed 83% and briefly became the fourth-largest crypto asset by market capitalization.
– Ethereum gained 8% to surpass $2,000 for the first time in three months.
– Cardano pumped 25% to reach $0.357, Solana was up 34% to $29, and Polygon pumped 20% to $0.854.
– Stellar Lumens cranked over 50% on the news.
Bitcoin dominance is currently back to around 50.11%, just above its 50-day moving average.

Hot Take:

Bitcoin’s dominance in the crypto market took a hit as altcoins surged following Ripple’s legal win. The rise in altcoin prices caused BTC dominance to briefly fall below 50%. While this altcoin rally is exciting for some, it remains to be seen if it is sustainable in the long run. Crypto markets are still range-bound, and Bitcoin’s dominance is back to around 50%. It’s an interesting time in the crypto world as altcoins strive to make their mark.

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