Cryptocurrencies
Crypto Altcoins Fail to Keep Pace With Bitcoin During Record Run
- Most smaller tokens haven’t reached highs set in 2021 rally
- Industry turmoil of 2022 continues to weigh on some projects
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While altcoins have seen increasing inflows this month amid Bitcoin’s record-breaking rally, the shadow of the 2021 crypto bubble still hangs over much of the sector.
Bitcoin reached an all-time high just shy of $100,000 on Friday before pulling back from the milestone. The largest token by market value has surged since the presidential election victory of Donald Trump, who touts himself as pro-crypto, and the announced resignation of US Securities and Exchange Commission Chair Gary Gensler, as the industry anticipates a more friendly regulatory environment.