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Altcoins

Chainlink, Algorand, Dogecoin rally as Bitcoin reinforces market dominance

Chayanika Deka

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Source: Pixabay

While Bitcoin regained its dominance of 63.7% at press time, the collective cryptocurrency market cap continued to flatter to deceive. The same was recorded to be $252.2 billion after a short-lived bearish phase. That being said, many altcoins seemed to show signs of life this week.

Chainlink [LINK] 

LINK token has been one of the best performing altcoins this year. However, after the latest fall in the price of Bitcoin, the crypto sustained a minor correction. Soon, however, the statement announcing Ethereum Classic Labs’ team’s partnership with Chainlink prompted the price of the token to post gains worth 45.23%

At press time, LINK was up by 5.36% over the last 24-hours. Additionally, its market cap stood at $1.53 billion with a price of $4.46. The coin registered a 24-hour trading volume of $418.6 million.

Source: LINK/USD on TradingView

Algorand [ALGO]

Another altcoin that rose following the brief crypto-market correction was Algorand [ALGO]. Over the past week, the coin took a plunge of 14.62%. However, this altcoin rebounded as news of the Marshall Islands leveraging Algorand technology to roll out the world’s first national digital currency, the Marshallese sovereign [SOV], broke out.

ALGO rallied by 7.80% over the last 24-hours and was priced at $0.375, at press time. The crypto held a market cap of $238.8 million and a volume of $136.5 over the same timeframe.

Source: ALGO/USD on TradingView

Dogecoin [DOGE]

No other memecoin has caught the attention of the crypto-community like Dogecoin [DOGE] has. While DOGE followed its peer altcoins by declining, 12.85% over the last week, one tweet from the Tesla overlord was enough to drive the coin into a bullish tizzy all over again.

After a stint near its support zone, DOGE rose by 4.73% over 24 hours and was valued at $0.0024, at press time. Further, it held a market cap of $301.9 million and a 24-hour trading volume of $173.7 million.

Source: DOGE/USD on TradingView


Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.

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