Cryptocurrencies Higher on Increasing Altcoin Appetite
Dow Jones09-29 21:51
0951 ET - Major cryptocurrencies are mostly higher, with bitcoin up 1.2% to $84,479, ethereum rising 2.1% to $2,738, XRP climbing 3.8% to $1.55, and solana advancing 2.1% to $121.29. Altcoins--or tokens other than bitcoin--are seeing more interest and taking up a larger share of daily trading volume, according to data from Glassnode. The firm says that total spot volume in cryptocurrency trading is currently about four times that of bitcoin trading volume, suggesting that more buyers are piling into altcoins. CoinMarketCap's "Altcoin Season Index" sits at 61 out of 100, down from 63 yesterday but still close to the highest level seen in a year.
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