DeFi Tokens Lead Today’s Altcoin Boom While Bitcoin Stagnates

DeFi Tokens lead the way such as Ampleforth and Aave in today’s altcoin boom while Bitcoin stagnates due to a lack of substantial price movement in the past 24-hours. Following the latest altcoin news, we can see that DeFi tokens lead in price increase which means that Bitcoin’s dominance over the market continues to decline and will eventually reach its yearly low.

The altcoin market indicates a few impressive gainers over the past 24-hours above all which, stands Ampleforth with an increase of over 30% to $4. The price surge comes weeks after the company announced the launch of the liquidity rewards program named AMPL Geyser for participants in the Uniswap protocol. The ecosystem has grown since then as Ampleforth announced more than $7.5 million in deposits on July 10^th.

Another representative in the crypto community from the DeFi tokens is one rise again, and that is Aave, increased by another 20%, trading at $0.25. Interestingly enough, LEND Was trading at 36 SAT while its current price is around 2690 SAT with a return of around 7300%. From the top 100 coins by market cap, Bitcoin Diamond and Bytom also surged dramatically since yesterday with a similar increase of 14%. BTC is trading at $0.10 and BCD is at nearly $1. Dogecoin, for example, the asset received major boost lately is also in the green. DOGE is still far from the $1 price target as it is trading around $0.0038.

From the top 10 coins, Binance Coin increased the most by 8% and the native cryptocurrency of the leading digital asset exchange Binance is hovering over $18.5. Stratis for example is down by 6% to $0.63 and Elrond also showed decent price growth over the past few days, but retraced slightly today by 4% and is now trading at $0.119. Bancor and Stellar are in the red today as well, trading at $1.5 and $0.93 respectively. The main cryptocurrency illustrated the lack of volatility during the past few weeks. Outside of the attempts to break above $9500 or to dive below the $8900 but Bitcoin was mostly situated between $9000 and $9300 since June.

In the past 24 hours, Bitcoin got rejected at a significant resistance of $9300 before dropping to $9180. The lack of movement and altcoin’s price increases led to a decrease in BTC’s dominance over the market. the metric dropped from nearly 70% in May to about 62%.