Home / Business / Altcoins rose to three digits as Bitcoin price plunged to $ 60K.

Altcoins rose to three digits as Bitcoin price plunged to $ 60K.

If this past weekend is a sign of the current bullish cycle, the altcoin season may be underway.

As with previous rounds, after (BTC) has caused significant price rises and enters a consolidation phase, funds will begin to migrate to large and small altcoins.

Chart WRX / USDT, WIN / USDT, BTT / USDT, STX / USDT and HOT / USDT 4 hours. TradingView

Data from Cointelegraph Markets and TradingView shows that while Bitcoin has been trading in the range between $ 57,000 and $ 60,200 over the past week, many altcoins have been profitable in double digits because of the exchange entry and protocol developments. Enthusiasm and new trading volume for selected projects.

The Tron ecosystem is leading the altcoin rally.

The Tron ecosystem (TRX) token has seen a significant increase in trading volume over the past 2 days, with the largest growth gambling-focused WINk token, up 325% from $ 0.00059. On April 3 to a new all-time high of $ 0.0025 on April 5.

WIN / USDT 4-hour chart. TradingView

BitTorrent (BTT) also flowed a purchase on April 4, bringing the price more than 100% from a low of $ 0.0067 to a new high of $ 0.0136.On April 5, the price of TRX was up 48. % For the same period It increased from $ 0.0997 to the current price near $ 0.147.

It’s not just Tron-based projects that grabbed the attention of traders on weekends and on Mondays.

Indian crypto exchange WazirX saw its original token (WRX) growing more than 350 percent over the past two days, plunging from a low of $ 1.47 to a new all-time high of $ 5.88. On Monday, hitting a record 2 billion trading volumes.

WRX / USDT 4-hour chart. TradingView

Holochain (HOT), a decentralized peer-to-peer platform for dApps, has seen a 350% price jump since March 25, announcing that Holo Limited has received a US patent for its rrDHT network innovation since its inception. The HOT announcement rose from $ 0.21 to $ 0.31.

The new Upbit Global listing also sparked a 150% increase in Stacks (STX) prices as they moved from $ 1.13 on Sunday to an interim high of $ 2.85 in April, before the take-offs cut prices. At $ 2.20

Bitcoin Gains Strength for the Next Run

According to analysis by Ben Lilly, co-founder of Jarvis Labs, network indicators indicate a solid base of Bitcoin’s price support, with a single strong wind resulting from volatility in fundraising rates. As soon as there is any type of pump ”

4-hour chart BTC / USDT. TradingView

Based on that reaction, Lilly saw that there could be a $ 54,000 re-test to “crush some of the FOMO” still found at that level. But he doesn’t see the price drop at all due to this level of solid online support.

Lily said:

“Either way, we’re preparing for the second half of April and the years to come, especially with the Grayscale Effect that started there.”

At the time of writing, BTC is trading at $ 59,200 with Bitcoin’s dominance rate of 55.7%.

The views and opinions expressed here are those of the authors. Solely and does not necessarily reflect your point of view. Cointelegraph.com Every investment and trade carries risks, you should do your own research when making decisions.