Mid-cap alts soar, with Tezos, Cardano hitting all-time highs
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Bitcoin and Ethereum are little changed this morning but a number of mid-cap altcoins are flying high.
QTUM is up 82 per cent in the last 24 hours, Ethereum Classic has added another 50 per cent to continue its wild ride, EOS has advanced 40 per cent and Tezos gained 24 per cent to hit an all-time high of US$8.27. (Stockhead had reported two days ago that Tezos looked poised for a breakout, back when it was trading at $6).
Can we all agree not to sell #Tezos until it’s top 3 where it belongs!
— Novus Publius.ꜩ (@Mithra22816681) May 5, 2021
Feels good about the $XTZ pump. A perfect reward for sticking to the project for years and trying out every product they’ve released. I never intend to sell my #Tezos. It’s a forever HODL, no matter bear market or bull market. It’s either nothing or everything with #Tezos 🚀
— Crypto Samuꜩai🥢 (@cryptosamuraai) May 6, 2021
Also, Cardano (ADA), the No. 7 crypto, hit an all-time high of US$1.69 yesterday afternoon after weeks of trading in a range.
At 12.19pm AEST, the top five coins were all down, including Dogecoin which had fallen 16.6 per cent to US52.9c. It had hit its risque price target of US69c on Wednesday afternoon (May Fourth, aka Star Wars Day, in much of the world).
But notwithstanding the majors’ dip, 53 of the top 100 coins were up — 18 of them by double digits. It’s not a common situation, as usually the market moves in tandem with BTC.
But Bitcoin’s share of the overall cryptocurrency market has slipped to just 45 per cent, its lowest level since July 2018, down from over 70 per cent at the start of the year.
What comes after Large Cap Altcoin Season?
— Rekt Capital (@rektcapital) May 5, 2021