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BTC Leading The Way, Polygon Transactions Drop

Oct 11, 2021 · 4 min read

By Jeremy Ong, and Joo Kian

Market Update

Besides a market sell of $40m worth of BTC on Bitstamp leading to a market-wide pullback yesterday, the weekend was rather uneventful, with a handful of altcoins outperforming BTC. Thankfully, this event only served as a temporary setback. Bitcoin swiftly recovered and continues exuding significant strength, relative to most of the digital assets market.

BTC Dominance Rises Alongside Total Crypto Cap
It’s officially Bitcoin season. In the last 24 hours, only 4 crypto assets in the CoinGecko top 100 have managed to outperform Bitcoin’s immense strength. In the last 7 days, only 12 crypto assets outperformed BTC. Speculators that got caught up in the L1 + liquidity mining war were likely outperformed by BTC over the last week as BTC Dominance continues its rise and more capital rotates back in.

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