The Bitcoin price pump has resulted in an altcoin explosion. The imminent $7,000 ascendance of the top cryptocurrency has buoyed the likes of its silver counterpart, Litecoin [LTC] and Cardano [ADA], with the respective coins exhibiting massive 6 percent price increases within the hour.
On the back of Bitcoin breaking multiple price levels, several notable milestones have been achieved over the past 48-hours. The collective market has rallied over the $200 billion market cap level with the dominance of the top cryptocurrency reaching 59.2 percent, a level not seen since the December 2017 price pump.
Altcoins are also seeing a massive pump with Litecoin, the fifth largest and Cardano, the tenth largest cryptocurrency being the spearheads of the altcoin-bull-run. Digital Silver has amassed a whopping 11.15 percent incline against the US-dollar in the past 24-hours, while the hourly increase is at 6.03 percent.
Source: Trading View
Litecoin’s recent pump began early on 11 May, with the coin surging from $73.61 to $84.86 at press time, and continues to head upwards, with no imminent signs of correction. The market cap of the coin is currently $5.21 billion, adding over $700 million in the past 6 hours.
Coineal takes the top spot for LTC trade volume, in the trading pair LTC/BTC, accounting for 12.8 percent of global trade. Other notable exchanges on the list are Coinall, DOBI Exchange, ZBG and OKEx.
Source: Trading View
Cardano, another notable gainer in the market has seen a massive 9.7 percent spike against the dollar in the past 24-hours. The cryptocurrency began to pump at 0300 UTC on May 11, and saw its price increase from $0.591 to $0.695 at press time. The coin’s market cap has seen an addition of 240 million within the period, currently standing at $1.78 billion.
The cryptocurrency’s global volume dominance is held by ZBG in the trading pair ADA/USDT, accounting for 32.8 percent of the total. Other notable exchanges holding significant ADA volume are Huobi Global, Binance, Upbit, HitBTC, and OKEx.
Source: Read Full Article