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The demand for alternative cryptocurrencies has seen their performance rise over the last 24 hours despite the inability of Bitcoin (BTC) to take another step ahead.
This raises the question of whether the "low season", a period in which alternative cryptography is experiencing significant growth regardless of BTC's performance, has finally arrived.
Ether (ETH) and XRP (XRP) increased by 6 to 10% that day, driven by strong demand in large 24-hour trading volumes.
The event marks a divergence from recent weeks with BTC's dominance rating, a share of the total value of the cryptography market, which hit a 30-month high of over 70% at the beginning of the month.
That number has since dropped to 68.3%, with the interest of alternative cryptos starting to pick up.
As noted above, both XRP and ETH prices experienced a rapid rise in prices between September 17 at 10 pm and September 18 at 3 am, while the BTC was down from 1% compared to the same period.
Other notable cryptographic assets such as Stellar (XLM), Binance Coin (BNB) and Litecoin (LTC) also increased by 2.5 to 9%.
The total market capitalization of all cryptographic technologies, with the exception of BTC, also increased by more than $ 5.4 billion over 24 hours, while the total volume of trade increased by $ 7.2 billion.
This could be a sign that investors are increasingly wary of BTC's potential growth and looking elsewhere, as its price has remained in the range of $ 300 for nearly two weeks.
Disclosure: The author does not hold any cryptocurrency at the time of writing.
XRP, ETH and BTC images via Shutterstock; graphics via Trading view
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