The altcoin sector has gained notable attention for the broader bullish momentum this weekend. As per the latest, the altcoin ecosystem has recorded a massive 90% increase to touch the $1.891T, with Ethereum ($ETH), Ripple ($XRP), and Litecoin ($LTC) witnessing substantial spikes. A key role in this market frenzy is reportedly played by the prominent institutional investors.
Ethereum Drives Altcoin Momentum as Market Climbs by 90%
Specifically, Ethereum ($ETH), has served as a leading crypto asset in driving the 90% increase in the altcoin market. In this respect, its price has presented a 1.84% rise over the past 24 hours. As a result of this, Ethereum’s current price accounts for $3,655.51. Hence, after surpassing the $3,600 mark, Ethereum ($ETH) sees an increased possibility of soon reaching $4,000. At the same time, its market dominance has surged to 11.4%, expressing significant bullish momentum.
Similarly, Ripple ($XRP) has witnessed an aggressive price push to $3.42. This indicates a noteworthy 23.17% upsurge over the past seven days. In this respect, the prominent crypto asset is reaching considerably closer to its all-time high spot of $3.84, which it achieved eight years back. Thus, it seems a great opportunity to surpass its previous ATH and set a new one amid the wider altcoin market growth.
Bitcoin Lies Low around $118K Amid Wider Altcoin Boost up
Apart from that, Litecoin ($LTC) has also made a stunning jump of up to 10.73% over the recent 24 hours. With this remarkable increase, its current price has touched the $114.12 mark. Simultaneously, its 7-day price movement displays an even bigger 22.37% upturn. However, while these altcoins are skyrocketing, the top crypto asset, Bitcoin ($BTC), is hovering around $118K, since it dropped from its new ATH.
While the altcoin market has witnessed a 90% increase, Bitcoin’s relatively subdued position signifies the surging momentum around the altcoin season. In this case, dollar cost averaging (DCA) seems to be a very sensible choice to smooth out the volatility and minimize risk in investment. This strategy includes the investment of a fixed amount on regular basis, like monthly or weekly, irrespective of price. At present, a vast majority of the investors are utilizing this technique to get maximum out of the ongoing altseason.
