When Bitcoin rallied to $900 during Christmas of 2016, majority of the highly-capitalized alternative digital currencies sustained sizable losses.
However, as Bitcoin rallied from $970 to $1070 between February 1st and 9th, and as Bitcoin made it over $1000 for the second time this month on Friday, the exchange rates of major altcoins have remained steady - some even appreciated!
The second most valuable digital currency in the world, Ethereum, which has a market capitalization of $1 billion USD, has remained steady around $11.00 (ETH/BTC at 0.011) this month as Bitcoin has made multiple trips above the $1000 mark.
During Bitcoin’s rally to $900 in December, Ethereum dropped 10 percent in one day; the ETH/BTC rate hit a low of 0.0078!
MaidSafeCoin hit a 6-month high today of $0.167485 ($76 million market capitalization). The digital currency has been in a steady uptrend since the start of February - right alongside Bitcoin.
Like MaidSafeCoin, the exchange rate of Factoids - the token of the Factom blockchain-based records/data network - has traded around $3.30 to $3.50 over the past week as the price Bitcoin made several excursions above $1k.
Prices of anonymity-focused cryptocurrencies Monero & DASH have hovered around $12.50 and $16.50, respectively.
NEM, currently the 9th most valuable cryptocurrency in the world, has also grown in price and market capitalization. At the start of this month, the NEM/USD exchange rate was $0.005, today, NEM trades at $0.007 per coin.
While most of Top 10 altcoins have been surprisingly stable this month, some digital currencies have lost value. Ethereum Classic and Litecoin have been in a steady downtrend since Bitcoin began to rally aggressively.
Coins photo by BTC Keychain
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