Altcoins are outperforming bitcoin, ether, and other mainstream cryptocurrencies

Bitcoin (BTC) – after months of getting stuck within the $30,000 mark has finally broken through after a series of price rallies. Same thing with other equally popular cryptocurrencies out there like ether (ETH). Up and coming digital tokens are performing even better and this may well seem to be a clear indication that the fear of missing out (FOMO) spirit is still very much alive.  

Cardano doubles  

Cardano (ADA) is an example of these so-called alternative tokens as its price doubled this month. Moreover, it went on to become – as of writing – the third-largest digital asset alongside a market cap of almost $90 billion under its belt.    

Dogecoin millionaire to invest in Cardano’s ADA  

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Remember Glauber Contessoto? The 33-year-old guy who invested all of his savings in the meme crypto Dogecoin (DOGE) and ultimately became the first-ever dogecoin millionaire? Well, he’s back in the news again and this time, he’s planning to go all-in on other cryptocurrencies, and yes, he’s eyeing on the Cardano blockchain’s altcoin – ADA.   

According to reports, he stated that he has no intentions of selling his Shiba Inu-inspired tokens, though he said that he’ll start purchasing as much Cardano as humanely as possible with every bit of money he’ll start making from hereon. His game plan: wait until there’s a dip in ADA’s price to begin investing. A thing that he did with dogecoin.  

Contessoto even took to Twitter and made a fearless forecast about the cryptocurrencies that will be in the top five in the next five years. He believes that dogecoin, ethereum, bitcoin, Cardano, and XRP will be making it big within that period.  

Binance coin and Avalanche too  

Another altcoin that’s been performing well as of late is Binance coin as it secured the fourth spot among the top cryptocurrencies. At the time of writing, its price sits at $469 with a market cap of $78.9 billion.   

This month alone, the price of the token dubbed as Avalanche (AVAX) has tripled as it’s currently priced at $43.20. Its market cap is at $7.5 billion with a circulating supply of 174 million.  

eToro chief exec on recent events  

Yoni Assia – founder and chief executive of the online exchange eToro – said that there’s no doubt that there’s a lot of excitement in crypto right now. He added that one can definitely see it within the numbers in the industry, whether it’s looking at total volumes or looking at the growth of companies.   

Assia went on to say that they’ve seen a lot of exuberance in the market and even called it a generational buying moment. He deemed it as such as he pointed out a confluence of events, which include way too low-interest rates worldwide as well as huge fiscal stimulus efforts that delivered checks to folks that were affected by the ongoing global health crisis.

Source: Altcoins are outperforming bitcoin, ether, and other mainstream cryptocurrencies

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