This has been one of the best weeks for altcoins in 2018, after the total market cap rose 25% week-on-week and just reached $375 billion, coming closer to the much-desired $400 billion mark – and climbing from below $250 billion just 10 days ago.
Aside from the surge of Bitcoin, the altcoins measured nice growth too. Names like Stellar (XLM), Cardano (ADA) and IOTA were among the biggest gainers showing appreciation of up to 51%.
Meanwhile, other major altcoins like Ripple (XRP) and Bitcoin Cash (BCH) have gained at least 30% each. Ethereum (ETH), as the second largest cryptocurrency, has appreciated by 16% too and Litecoin (LTC) also reported 16% gains.
Stellar (XLM) picked up a bid following the breakout on April 12, rising to an 8-week high of $0.3883 on Bittrex – backed up with positive news flow after Novatti Group (a global software tech and systems integration provider) integrated XLM into its remittance service. The trading volume for Ripple increased 27% since April 13.
IOTA also crossed the long-term falling trend with a new spike, trading at $1.95 on Binance which is its highest level since early March this year. The rally also coincided with the news that the first crypto-powered charging station in the Netherlands will use IOTA – which strengthened its appeal.
Cardano’s (ADA) impressive rally is another one in the list, crossing the key resistance of $0.2543 in a timely manner and hitting a high of $0.2928 which is a level we last saw at the beginning of March this year. The trading volume for Cardano also jumped 29%.
Meanwhile, there were some losers too. The altcoins Verge (XVG) and Binance coin (BNB) both sunk by 21.48% and 10.56% respectively.
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