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Here’s Why Mid-Cap Altcoins May Outperform the Market This Week

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The latest run-up in the cryptocurrency market was primarily driven by gains in major, top-15 altcoins including XRP (XRP), Stellar (XLM), TRON (TRX) and Cardano (ADA).

However, despite the change in investor sentiment, many mid-cap altcoins, which we are describing as coins with market capitalizations between $100 million and $500 million, have lagged behind the larger market over the last week. If a new bull run is truly in the works, this might result in a significant rotation of capital from the top-20 coins into underperforming, mid-cap altcoins.

This thesis is supported by Luke Martin, a well-regarded technical crypto market analyst, who recently publicly stated that he is rotating his exposure of major altcoins, including ADA and TRX, into coins like ICON (ICX).

Taking a look at the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens, many mid-cap altcoins are already putting up decent gains over the past 24 hours.

For instance, Siacoin (SC) is currently up nearly 21%, while Bytecoin (BCN) and ReddCoin (RDD) are up 9.2% and 8.6%, respectively.

READ  KuCoin Cryptocurrency Exchange Listed Decred DCR Today

Moving forward, investors should watch both the price action of coins like XRP and TRX, as well as the volumes of mid-cap altcoins, to determine which coins are likely to run next.

Here's Why Mid-Cap Altcoins May Outperform the Market This Week
24 Hour Gainers in the AltDex 100 Index
More: AltDex Cryptocurrency Index
Related: Exchange Tokens Outperform During the Latest Crypto Rally

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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