That’s a gain of $1.2 billion. Or the equivalent of the entire market cap of the number 14 coin NEO.
I guess it’s a case of the rich getting richer. Something like that. Alt-coins of course have had a wretched year. It’s not uncommon for smaller coins to be down 90% or more.
This is one subject I am an absolute authority on: I am a YoBjt account holder, after all. Or should I say “hodler”? “Bad investor” might be a more apt description.
(My “DYOR” has a dual meaning; one, to be a good rule follower of SEC laws; but I also would hate for anyone to jump off the alt-coin cliff with me & go broke.)
At any rate, I am staring to wonder if this burgeoning recovery will be targeted mainly in the so-called “mid-caps”, for lack of a better term. We’ve seen some big moves in ETH, XRP, & BCH this month and while a whole host of alt-coins like Electroneum, Eternal, & PIVX have soared, its hard for me to conclude they are leading this would-be rally. I’d kind of say they’re just going along for the ride.
Bitcoin is suffering from a “Hamlet complex” lately and can’t decide what to do with itself. But I can’t imagine the world leader in digital assets will remain rangebound indefinitely and assuredly someday it will break out of its slumber.