Bitcoin hogged the crypto-currency limelight earlier this year, doubling in price before recently losing steam. Now it’s the turn of smaller rivals – the “altcoins” – to have their moment in the sun.
The second-largest coin, ethereum , hit a record $3,560 recently fuelled by its use in a bond issue and the booming NFT sector. Meme-based digital coin Dogecoin, originally intended as a satire on the cryptocurrency boom, also hit an all-time high. Their rise knocked bitcoin’s share of the $2.4 trillion crypto market to a near-two year low.
The crypto crowd might also tune into U.S. entertainment show Saturday Night Live this weekend, guest-hosted by Tesla Techno-king Elon Musk, whose social media comments have in the past sent bitcoin and Dogecoin soaring.