Small Cap Altcoins Are Up As Bitcoin Try To Reclaim $60k Price Again.
2021-11-20 | Selina Mathew
Bitcoin's recent retracement below $60,000 has given altcoins like ROSE, YGG, and AST the green light.
On November 20, the strength of Bitcoin (BTC) holders is being put to the test as fresh efforts are made to bring the price below $59,000. Bulls have well-protected this level, but analysts believe the $63,000 level will be reclaimed as support before the "dip" ends.
Bitcoin Price Chart - Source: CoinMarketCap
While much of the recent attention has been on Bitcoin and ETFs, the altcoins market has provided some flexibility, and a couple of other tokens have been added to the ever-increasing surge on Nov. 20.
Oasis Network (ROSE), Yield Guild Games (YGG), and AirSwap were three of the largest beneficiaries in the last 24 hours, according to data (AST).
The Oasis Network (ROSE) is a private blockchain network dedicated to open-source funding and the development of a responsible data economy.
ROSE's meteoric rise coincides with the launch of the Oasis ecosystem development fund, a $160 million fund "committed to supporting and extending Oasis-built companies."
Yield Guild Games (YGG) is a non-affiliated play-to-earn (P2E) and independent organization (DAO) that engages in and invests in many sectors of the blockchain-based gaming business (NFTs).
According to data from the show, after hitting a low of $5.93 on November 16, YGG prices rose 32.7 percent overnight to a high of $7.87 on November 17 as its 24-hour trading volume soared 110% to $140.5 Mln., presently trading at $8.5%, up +8% for the day.
Yield Guild Games Price Chart - Source: CoinMarketCap
The rapid spike in YGG's costs is due to the project's new collaborations and stadium integration, which includes the most recent additions to Satoshi's Legions and preparations for Thetan's Arena's forthcoming opening.
Airswap (AST) is a separate Ethereum (ETH)-based peer-to-peer (P2P) trading protocol that functions similarly to Uniswap, SushiSwap, and other DeFi platforms, except Airswap is airless.
Market circumstances for AST have been excellent for some time, according to the data.
The overall market capitalization of cryptocurrencies is currently $2.624 trillion, with Bitcoin commanding 43.4% of the market.
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