Bitcoin hit another all-time high today—but its solid gains look merely modest compared to those seen by other digital coins and tokens this week.
The biggest digital asset is up nearly 10% over the past seven days, CoinGecko data shows. And as is usually the case, it’s brought the rest of the market with it. These major altcoins are killing it in comparison.
Bitcoin forks
BTC passed $70,000 on Friday before dropping sharply. But forks from the biggest coin are soaring.
Bitcoin Cash (BCH) is up over the past week by nearly 40%. The 20th biggest coin by market cap has soared with BTC, which isn’t normally the case.
It’s now priced at $432.82, CoinGecko says. But despite experiencing a recent price jump, BCH is well below its all-time high of $3,785. It touched that level not during the last bull run but back in 2017.
Bitcoin SV (BSV) has made big gains over the week—albeit not quite as impressive: the controversial spin-off and 59th biggest coin by market cap is up by nearly 32%, trading hands for $110.28.
Lesser known Bitcoin offshoots such as Bitcoin Gold (BTG) have jumped even more. The obscure asset, which has largely been a failure, has nearly doubled in price this week.
Meme coins and tokens
Week after week, memes have been on a tremendous rally. Two of them are in the top 20 biggest virtual coins by market cap: Shiba Inu (SHIB) and Dogecoin (DOGE).
This week alone, the Ethereum-based SHIB has surged by 139% over the week. As the 11th biggest digital asset, it is the biggest winner out of the top cryptocurrencies and is now priced at $0.00003511.
While the original meme coin and 10th biggest coin, DOGE, is up by close to 28%, and is trading hands for $0.16.
Smaller cap memes like Pepe (PEPE) and Dogwifhat (WIF) have also risen by 116% and 126%, respectively. Floki Inu (FLOKI), which is slightly more obscure, has also risen fast.
Decentralized finance (DeFi)
DeFi tokens—which run on blockchains hoping to eventually replace traditional financial services—are also on a roll.
Uniswap (UNI), the governance token behind the biggest decentralized exchange, is killing it, having shot up by 25% over the past seven days.
And Lido Staked Ether (STETH), the 14th biggest digital asset, is up significantly on Ethereum’s (ETH) surge—having jumped by nearly 15% in the past week.
Edited by Ryan Ozawa.
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Source: https://decrypt.co/220904/bitcoin-gains-altcoins-bch-bsv-btg-shib-doge
