Some dead altcoin projects from 2017 and 2018 came back from the dead, and crypto circles are discussing the reasons for this. cryptocoin.com We are focusing on these five altcoin projects.
Why were five altcoins resurrected?
“Dead” altcoins from 2017 and 2018, including Ethereum Classic (ETC) and DASH, have revived last week. The collection of “forgotten” altcoins in 2017 and 2018 saw huge gains in the top 100 last week, and no one is quite sure why. For example, Ethereum Classic (ETC), which became popular around 2018 and hit a market cap of over $4.3 billion, saw an 81.33% price increase last week. Ethereum Classic (ETC) was also named a rebounding altcoin by crypto analytics firms earlier this week alongside BCH.
Similarly, another altcoin Dash (DASH), which reached a market cap of $12 billion in 2017 before falling below $400 million, saw a 34% increase in price. The same seems to be true for Bitcoin Cash (BCH), which previously peaked in 2017 with a market cap of over $66 billion and has seen a price increase of around 24% this week. Zcash (ZEC) and EOS, which have pretty much the same story, have also seen price increases of over 20% this week. Two weeks ago, Zcash was part of another altcoin rally, gaining 15%. EOS was also recently listed as the second most purchased cryptocurrency by crypto whales.
Is this a imminent dump sign?
Noting this altcoin resurgence, one Reddit user suggested that it could be an indication of an incoming dump. While many of these cryptocurrencies are still far from their all-time highs, it is still a topic of unresolved debate in the community as many wonder whether this should be considered a good or bad sign for the crypto market.
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