Cryptocurrencies
Weekends Are for Altcoins When It Comes to Crypto Market Gains
- Ether has outperformed Bitcoin in eight of last 12 weekends
- XRP, Ether gain over the past month while Bitcoin drops 5%
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Bitcoin’s long been king of the cryptosphere. But alternative coins could be catching up while most investors are taking a breather.
The so-called altcoins, which have lagged behind Bitcoin’s performance this year, are gaining steam. Ether, the second-largest digital token, is on pace to break a six-month streak of underperformance relative to Bitcoin, data compiled by Bloomberg show. In six of the last 10 weekdays, Ether has bested Bitcoin in terms of daily percentage gains and has outperformed the largest digital currency in eight of the last 12 weekends.