Although Bitcoin (BTC) has seen a massive rise in price in 2023, pushing its social dominance well above others as a result, the top altcoins by market cap are also worth keeping an eye on, particularly as they are also rising, but have been under the radar.
Specifically, Ethereum (ETH), Cardano (ADA), XRP (XRP), Binance Coin (bnb), and another CRYPTOCURRENCIES are receiving little attention compared to Bitcoinbut their social dominance indicates that they tend to coincide with that of flagship decentralized finance (DeFi) active, according to data shared for him block chain and crypto analytics platform Holy July 3.
As it happens, Bitcoin's social dominance as of June 28 stood at 23.95%, at the same time as Bitcoin's. Ethereal it was 7.32%, Cardano at 1.53%, the XRP token at 1.17%, and the BNB cryptocurrency to 0.64%, as indicated by the chart on the platform.
At the same time, Bitcoin has increased in price by 82.09% since the end of the year, from $16,530 on January 1 to $30,100 on June 28, and is currently changing hands at $31,022, up 2.13 % more in the last seven days and 14.24% throughout the month, signaling the beginning of a bull market.
Price analysis of the main altcoins
Meanwhile, the value of Ethereum has surged 52.97%, from $1,197 to $1,831, and at press time it is trading at $1,954.61, showing a 4.25% rise on its weekly and 2-week chart. .87% in the month, since crypto community wait for the next one dencun updateaccording to data retrieved on July 4.
As for Cardano, its price has grown by 9.5% since the turn of the year, going from $0.2466 on January 1 to $0.27 on June 28, while its price currently stands at $0, 29, showing a recovery of 4.65% compared to the previous seven days, coinciding with Vodafone's non-fungible token (NFTs) camaraderie while it lost 22.86% during the last month.
Meanwhile, XRP gained 34.86% over the observed period as it grew from $0.3411 to $0.46, and is now trading at a price of $0.49, which is an increase of 1.93% over last week due to positive developments in the United States. National Stock Market Commission (SECOND)'s lawsuit against Vibedespite losing 7.15% throughout the month.
On the other hand, BNB has seen a 7.1% price decline as it declined from $246.48 on January 1 to $229 on June 28. At press time, Binance Coin was trading at $245.31, up 2.95% on the week but down 20.12. % during the month as Binance faces regulator challenges but work for to integrate Bitcoin Lightning Network for deposits and withdrawals.
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