Altcoin Strength May Be Concentrated in Few Tokens

A crypto trader has challenged the idea that altcoins are broadly outperforming Bitcoin after comparing prices on August 22 and September 9, when BTC was near the same level.

The comparison found that most large altcoins had barely moved, while a smaller group posted clearer gains. The largest altcoin names, such as Ethereum (ETH), Ripple's XRP, Dogecoin (DOGE), Tron, and Cardano (ADA) were all down or nearly unchanged over the 17-day period.

Avalanche (AVAX) was an exception among the larger names, gaining 2% across the comparison. However, VirtualBacon pointed out that some of these gains came with a catch - traders needed to have owned those coins before the narratives became widely discussed.