Bitcoin has staged a major price recovery in recent weeks but it is the market movements of several of its rivals that have proved the most noteworthy.
Cardano (ada), Solana and Hex have all hit record highs in recent days, amid a crypto bull run that has taken the combined market cap above $2.1 trillion for the first time since May.
Other major cryptocurrencies have also seen significant gains, with Ethereum (ether) rising by 6 per cent over the last 24 hours and nearly 15 per cent over the last seven days.
Cryptocurrency analysts remain divided over which direction the market will go from here, with prescribers to bitcoin’s Stock-to-Flow model believing that the current rebound will lead to a new all-time high.
Skeptics claim the recent run of good form is merely a “dead cat bounce” that will act as a precursor to new year-to-date lows.
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