More than 15 cryptocurrencies surpassed their all-time high price following bitcoin

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Key facts:
  • There are several memecoins and AI tokens on the listing.

  • So far this month, the figure amounts to more than 20 cryptocurrencies

The largest capitalization digital currency, bitcoin (BTC), has been reaching new record prices in its history since last week. But this is not the only case in the market. There are more than 15 crypto assets that also experienced this, after BTC.

Wrapped Bitcoin (WBTC) is the altcoin with the largest capitalization that marked a new all-time high price in said period. This digital currency is ranked 17th in the market capitalization ranking. It is worth clarifying that this is a tokenized version of bitcoin, so it remains at its price.

The next altcoins with the highest capitalization that achieved this milestone are below 30th place in the ranking. These are Render (RNDR), Stacks (STX) OKB, Bittensor (TAO), Injective (INJ), Optimism (OP) and PEPE.

Then, below the 40th step of the capitalization top, Fetch.ai (FET), Mantle (MNT), Dogwifhat (WIF), BONK, Mentle Staked Ether (METH), BEAM, DYDX, SingularityNET (AGIX) and others continue.

Of the hundred cryptoassets with the highest capitalization, the one that most recently registered a new all-time high price was the memecoin WIF. This was today, March 15, when it reached $3.47 (USD), while the rest achieved this milestone yesterday or days before, as seen below.

Last crypto assets to register a new all-time high price of the hundred with the most capitalization. Source: CoinGecko.

Different factors motivated the ATHs of multiple cryptocurrencies

Normally the arrival at all-time highs (ATH) of multiple cryptocurrencies takes place after this milestone is achieved by bitcoin, as was the case in this case. This happens because The appreciation of the main digital currency spreads enthusiasm in the market and greater appetite for risk, motivating demand.

In addition to this, there are internal factors of each cryptocurrency that may have motivated its new price record, such as the market’s interest in memecoins or artificial intelligence projects.

Meanwhile, the altcoin with the most capitalization, ether (ETH) is trading 24% below its all-time high recorded more than two years ago, and others are even further away, as reported by CriptoNoticias.

It should be noted that altcoins include cryptocurrencies without including bitcoin. Something to keep in mind is that these have a lower capitalization, so they react upwards or downwards more easily. That causes their prices to experience greater volatilityleading to larger profits as well as greater risk of losses.

Cryptocurrencies must consolidate their support to continue rising

After various crypto assets registered new price records, they generally slowed the rise due to a decline in bitcoin. The latter, which touched an all-time high of USD 73,700 yesterday, is now lateralizing around USD 68,000.

In this sense, the market shown in a consolidation period testing support (minimum zone due to greater demand than supply). This is normal behavior after an uptrend.

Given this, it could be that the cryptocurrencies that registered a historical price record since last week will not return to it until bitcoin does not reactivate its upward trend.

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