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Coin Edition 2025-02-12 10:34:00

Altcoin Market Drops $234 Bilion; Bitcoin Outshines ERC-20 Tokens

Bitcoin has maintained resilience, outperforming altcoins, mainly ERC-20 tokens. The 20-day EMA for altcoin market cap stands at $928 billion which is a major resistance. Glassnode highlighted the stark difference between Bitcoin and altcoins this cycle, resulting in uncertainty. Over the past two weeks, the altcoin market slumped, erasing roughly $234 billion in market capitalization. The steep drop raised concerns about the crypto market’s durability, especially as Bitcoin stayed ahead of ERC-20 altcoins. Glassnode data revealed a clear split: Bitcoin maintained its stability while many ERC-20 altcoins plunged sharply. In addition, CoinMarketCap reports that the total crypto market cap (excluding BTC and ETH) rests at $883.36 billion, down from a peak of $1.16 trillion. Market Data Signals Continued Altcoin Weakness Meanwhile, a key observation from the market data is the rejection at the 20-day Exponential Moving Average (EMA) at $928 billion. This level acts as a strong barrier against a bullish surge, implying that altcoins lack upward momentum and may drop further unless a major reversal emerges. Related: Ethereum Price Set for $4K Breakout … The post Altcoin Market Drops $234 Bilion; Bitcoin Outshines ERC-20 Tokens appeared first on Coin Edition .

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