Top Crypto News Today — Traders Invest in Small Cap Altcoins, Is the Bitcoin Party Over?

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As cryp­to mar­kets gained momen­tum, Bit­coin, Ethereum, and oth­er Alt­coins also surged, recov­er­ing from loss­es incurred after FTX col­lapsed. The price of BTC surged above $23,000, while Ethereum was head­ing towards $1,700. Unfor­tu­nate­ly, the two failed to firm­ly hold the ral­ly as it dipped below their respec­tive levels.

In the mean­time, traders after earn­ing large prof­its seem to be diver­si­fy­ing their port­fo­lio and there­fore tak­ing an inter­est in small cap alt­coins. Accord­ing to data from San­ti­ment, investors are now aban­don­ing large cap tokens like Car­dano, Solana, etc., and invest­ing in the oth­er top 200 tokens.

The plat­form lists a surge in dai­ly active address­es of alt­coins with a mar­ket cap below $300 mil­lion like Chi­an­bing (CBG), Mor­pheus Labs (MITX), Mon­etha (MTH), Poly­trade (TRADE), Plus­Pad (PLSPAD) , Rib­bon Finance (RBN), etc. and many oth­ers. Mon­ey flew from large caps like Car­dano (ADA), Solana (SOL), Polka­dot (DOT), etc. which had been in the head­lines for the first 3 weeks of January. 

These alt­coins are quite small and there­fore mon­ey stolen by larg­er alts can have a huge impact. There­fore, if the spin on sil­ver con­tin­ues, these small cap alt­coins could expe­ri­ence a pos­i­tive ral­ly in the com­ing days. On the con­trary, these alt­coins can also dive hard if traders wish to extract their profits.

How­ev­er, explor­ing for new tokens is always risky, but is also equal­ly impor­tant to spread dom­i­nance in the markets. 

Sources

1/ https://Google.com/

2/ https://news.google.com/__i/rss/rd/articles/CBMid2h0dHBzOi8vY29pbnBlZGlhLm9yZy9wcmljZS1hbmFseXNpcy90b3AtY3J5cHRvLW5ld3MtdG9kYXktdHJhZGVycy1pbnZlc3QtaW4tc21hbGwtY2FwLWFsdGNvaW5zLWlzLWJpdGNvaW5zLXBhcnR5LW92ZXIv0gGkAWh0dHBzOi8vY29pbnBlZGlhLm9yZy9wcmljZS1hbmFseXNpcy90b3AtY3J5cHRvLW5ld3MtdG9kYXktdHJhZGVycy1pbnZlc3QtaW4tc21hbGwtY2FwLWFsdGNvaW5zLWlzLWJpdGNvaW5zLXBhcnR5LW92ZXIvYW1wLz91dG1fbWVkaXVtPXJlZmVycmFsJnV0bV9zb3VyY2U9Y29pbnN0YXRz?oc=5

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