Cardano

Altcoins investment products stealing market share from bitcoin and ether

In a broad cryptocurrency rally, Bitcoin traded above $50,000 again on Thursday.

The upgrade onto the blockchain platform’s mainnet is still on track for Sept. 12

Layer-1 competition is heating up

“Hawkish commentary from the Fed could bring some volatility to the stock as well as crypto markets,” BKCoin Capital’s Kevin Kang said. “After Bitcoin briefly hit above $50,000 for the first time in three months, which closed May’s CME futures gap, there has been a lot of bullish optimism in the market.”

Hitting an all-time high of $2.52, the altcoin dethroned BNB coin again as the third largest crypto by market cap Friday morning.

“There are risk-off money flows across asset classes as investors fear that central banks are poised to tighten policy into a global economic slowdown this fall,” said Tom Essaye, President of Sevens Report Research.

“It’s great to see some divergence among different assets as we saw Solana (SOL) and Terra (LUNA) continue to hit all-time highs, which I believe shows that this asset class [will] continue to mature,” said Founding Principal of BKCoin Capital Kevin Kang.

The VIX hit a day-high of 19.48, jumping over 11% on Tuesday.

Solana hit record highs on Monday, benchmarking the SOL token as one of the top 10 cryptos by market cap.