Top Crypto News Today-Traders Invest in Small Cap Altcoins, Is Bitcoin’s Party Over?

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As the cryp­to mar­kets gained some momen­tum, Bit­coin, Ethereum, and oth­er Alt­coins also surged, recov­er­ing from the loss­es incurred after the FTX col­lapse. BTC’s price surged above $23,000, while Ethereum head­ed towards $1700. Woe­ful­ly, both failed to hold a tight grip over the ral­ly that plunge below their respec­tive levels.

In the mean­time, traders after gain­ing sig­nif­i­cant prof­it appear to diver­si­fy their port­fo­lio and hence gain inter­est in the small-cap alt­coins. As per the data from San­ti­ment, the investors are now mov­ing out of the large-cap tokens like Car­dano, Solana, etc, and invest­ing in the oth­er tokens with­in the top 200. 

The plat­form lists a steep raise in the dai­ly active address­es of the alt­coins with a mar­ket cap below $300M like Chi­an­bing (CBG), Mor­pheus Labs (MITX), Mon­etha (MTH), Poly­trade (TRADE), PlusPad(PLSPAD), Rib­bon Finance (RBN), etc and many more. The mon­ey has flown from the large caps like Car­dano (ADA), Solana (SOL), Polka­dot (DOT), etc which had made huge head­lines in the first 3 weeks of January. 

These alt­coins are pret­ty small and hence the mon­ey flown from larg­er alts may draw a huge impact. There­fore, if the rota­tion on mon­ey con­tin­ues, then these small-cap alt­coins may wit­ness a pos­i­tive upswing in the com­ing days. On the con­trary, these alt­coins may also plunge hard if the traders wish to extract their profits. 

How­ev­er, new token explo­ration is always risky but is also equal­ly impor­tant to dis­trib­ute the dom­i­nance with­in the markets. 

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