Cryptocurrency experts name top 3 most bought altcoins in 2023

Kaiko analysts note that in July, the dominance of altcoins in the cryptocurrency market reached a four-month high. The rating is headed by XRP. The token’s trading volume currently exceeds $ 150 billion.

Since mid-June, when Ripple Labs won a partial victory in court against the US Securities and Exchange Commission (SEC), the price of the asset has increased by 52%. According to CoinMarketCap, at the time of writing, the cryptocurrency is trading at $ 0.69 with a market capitalization of $ 68.9 billion.

The SOL rate jumped by 87% over the same period of time. At the time of writing, the virtual coin is trading for an average of $ 23. The total supply of tokens on the market amounted to $ 12.8 billion.

In turn, DOGE, which ranks third in the Kaiko ranking, has added 36% in value. This is due not only to the general trend in the altcoin market but also to billionaire Elon Musk’s plans to rebrand Twitter. Currently, the asset is trading at $ 0.077 with a market capitalization of $ 10.9 billion.

Bitcoin’s dominance in July decreased by 8%, and in 2023 it is expected to drop by 18% overall. At the moment, the market leader is worth $ 29,173 with a market capitalization of $ 612.6 billion.

Experts add that the overall dominance of bitcoin in the industry has repeatedly fallen below 50%. In particular, this happened when the BTC rate dropped to $ 29,000. As for the global market capitalization, it has decreased by 0.22% to $ 1.17 trillion.