Altcoins Like XRP and ETH Outperforming Bitcoin and Reach Investor’s Eye

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Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Given that the Bitcoin price is eyeing $20,000 again, institutional investors are searching for ways to diversify and spread their risk upon entering the cryptosphere. As such, it seems a new altseason might be upon us as the smaller coins have clearly outperformed the best known crypto this year.

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Altseason

Ethereum, Ripple’s XRP and DeFi behemoth Chainlink have all outperformed this year and are presenting fantastic year to date returns. Ethereum has just launched phase 0 of its new platform and is still the main operating platform for most DeFi projects. Ripple has worked together with other operators to provide customers with free coins via an airdrop and Chainlink, even though it is off it’s 2020 high of $20, is still presenting a remarkable 500% return for the year.

Some smaller coins like Stellar and Cardano are also doubling in value versus the 1st of January.

Litecoin, which PayPal announced would be included in the possible cryptocoins one could buy via their site as from next year, has seen a remarkable rise ever since the news from Silicon Valley.

Permanent shift

As such, they can expect many institutional investors to be aiming for further investment in 2021.

Asset managers admit that their clients start to realize Bitcoin is here to stay and therefore are willing to invest in other cryptos as well. James Butterfill from investment firm CoinShares admitted:

There are several factors that allude to a permanent shift in sentiment towards bitcoin.

On an anecdotal level, based on our client conversations over the course of 2020, we have seen a decisive shift from enquiries of a speculative nature to those that begin with comments such as, ‘bitcoin is here to stay, please help us understand it.’