Crypto asset markets are back in the green today and altcoins are leading the pack. Two, in particular, have made double-digit gains over the past 24 hours, which may indicate more bullishness for altcoins as markets recover.
Since this time yesterday, around US$5 billion [AU$8 billion] has reentered crypto markets, taking total capitalization back to US$210 billion [AU$338] once again.
Today’s two top performers are Bitcoin SV and Chainlink. BSV has made an impressive 12% in 24 hours, which has lifted its market cap above $4 billion as it accelerates away from Litecoin.
A halving in less than a day appears to be driving momentum for this Bitcoin offshoot, as its price tops $220 for the first time in over a month.
Bitcoin Cash, which has already been through the halving event, has only gained a couple of percent as it was widely regarded as non-performer due to week on-chain metrics.
Chainlink is also skyrocketing at the moment, with LINK notching up 15% on the day as it flips LEO and Stellar to take the 11th spot, with a market cap of $1.1 billion.
Green is the dominant color today, but most altcoins are only gaining a couple of percent.