Down from the Peaks: Bitcoin Nears Record High While Altcoins Face Uphill Battle

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Down from the Peaks: Bitcoin Nears Record High While Altcoins Face Uphill Battle

As of today, Oct. 6, 2024, the countdown to the end of the year continues, with just 87 days left. Bitcoin (BTC) is holding strong at just over $62,000, although it’s still trailing 15.6% below its record high from seven months ago. Meanwhile, ethereum (ETH) is facing a steeper climb, currently priced at $2,432—sitting 50.2% beneath its all-time peak of $4,878.

With 87 Days Left in 2024, Bitcoin and BNB Lead While Altcoins Lag

Bitcoin is inching ever closer to its all-time high, and it wouldn’t be a shock to see it pass the $73,737 per unit peak soon. Right now, BTC is trading at $62,202 per coin as of 10:30 a.m. EDT on Sunday.

Meanwhile, ethereum (ETH), the second-largest crypto, still has a way to go, sitting at $2,432 per unit, which is 50.2% below its all-time high. BNB, however, is a bit nearer to its top, standing just 21.4% lower than its record of $717, trading today at $564.

Down from the Peaks: Bitcoin Nears Record High While Altcoins Face Uphill Battle

The top ten crypto assets (excluding stablecoins) by market cap and percentage declines from peak prices as of Oct. 6, 2024.

Solana (SOL) is down by 44.3%, priced at $145, compared to its all-time high of $259 reached on Nov. 6, 2021. XRP is currently 84.3% below its peak, trading at $0.534—far from the $3.40 per unit it hit six years ago.

Similarly, dogecoin (DOGE) is down significantly, with 84.8% still to climb to reach its record high. Three years ago, DOGE soared to $0.731 per coin, while today it’s at $0.111.

Tron (TRX) is exchanging hands for $0.154 per coin, which is 33.2% below its peak of $0.231 from nearly seven years ago. Toncoin (TON) is faring a bit better, down only 36.2%, having hit its highest point just four months ago at $8.25, now trading at $5.27.

As of Oct. 6, cardano (ADA) is priced at $0.352, 88.6% lower than its lifetime high of $3.09 set three years ago. Lastly, avalanche (AVAX) is down by 81.5%, currently at $26.86, compared to its previous peak of $144 three years ago.

What do you think about the top ten crypto’s percentage declines from their all-time highs? Share your thoughts and opinions about this subject in the comments section below.

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