Most of the altcoins are trading in the green over the past 24 hours. Bitcoin, on the other hand, remains somewhat stagnant at around $9,200. Consequently, BTC’s dominance dropped to 64.5%, which is the lowest it has been since July 2019.

The sentiment within the community is shifting quickly, hinting at a possible new altcoin season. This was reaffirmed yesterday with two polls indicating that 50% of cryptocurrency traders hold mainly alternative coins, instead of Bitcoin.

Among the top 10 coins by market capitalization, Ripple stands the tallest with an 11% surge. XRP passed through two resistance levels at $0.26 and $0.274 and settled at around $0.278, where it currently trades. We have yet to see if the cryptocurrency will be able to shoot for $0.30.

As CryptoPotato reported yesterday, the most popular Bitcoin margin trading exchange, BitMEX, added a perpetual contract on the XRP token, allowing users to trade it against USD as well.

Ethereum is also in the positive with an increase of 1.41% and is currently trading above the $190 mark. Similarly, Litecoin ($69) and EOS ($4.25) marked gains of around 1.5% in the last 24 hours.

Binance Coin is up with over 2% and is approaching $19. TRON ($0.02) and Stellar ($0.06) also noted impressive gains with 4.7% and 6.5%, respectively.

Contrary, Bitcoin SV is the only coin in red in the top 20 with a decline of 1.5% and is trading at $270.

Major Crypto Headlines

Twitter Introduces Special Bitcoin Emoji: CEO Jack Dorsey Proudly Presents On His Own Profile. One of the largest social media platforms, Twitter, recently created a Bitcoin Emoji. Moreover, Jack Dorsey, the CEO of the company, showed further endorsement by sharing it on his personal profile page.

4X Faster Crypto Transactions: Welcome To MIT’s Spider Off-Chain Routing Scheme. MIT researchers announced that they had developed a significantly more efficient system for routing cryptocurrency transactions, called “Spider.” According to them, by using this scheme, transaction speed could be four times faster than ever before.

Amid BREXIT: UK Makes It Cheaper To Start A Cryptocurrency Business. The UK officially left the European Union on January 31st, 2020. Yet, it has amended existing regulations to reduce the registration fees for cryptocurrency-related businesses, making the creation of smaller companies cheaper.

Significant Daily Gainers and Losers

KickToken (21%)

KICK shines above the rest of the cryptocurrencies in the top 100 with gains of 21% against both USD and BTC. The price jump also means that KICK’s total market cap is north of $88 million. On February 3rd, the company announced that its ecosystem has reached a new milestone, having over 400,000 users.

Decentraland (20%)

MANA is also noting a positive day in terms of gains against the dollar and the largest cryptocurrency. It rises with 20% compared to both, currently trading at 0.047 USD and 514 SAT. MANA has also entered the top 100 coins by market cap since its own has surpassed $50 mil.

Decentraland recently published the latest technical updates, and its Public Launch is scheduled to be on February 20th.

ICON (-17.23%)

Yesterday, ICON surged to $0.60 and, rather expectedly, is retracing today to the current level of $0.44, meaning a daily drop of 26%. The decline against Bitcoin is similar, and ICX is trading at 4761 SAT.

Last week, the ICON Foundation announced that it will integrate its public chain with Chainlink.

The post Bitcoin Dominance At 6-Month Low As Altcoins Stand Strong: Wednesday Crypto Market Watch appeared first on CryptoPotato.

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