Altcoin Market finds new footing as Segwit2x gets cancelled

News travels fast, and this fast-paced digital age where everything is almost instantaneous, it wasn’t long before the world caught up with the Bitcoin fork cancellation, giving altcoin traders and investors new hope for their choice of cryptocurrency. Altcoins recently experienced stagnation in recent weeks as everyone wanted a piece of the Bitcoin cake leading up to the Segwit2x hard fork, but it seems that might not be the case now.

Traders have been dropping altcoins recently, putting most of their funds into Bitcoin to hopefully get extras when Bitcoin splits. In fact, most exchanges such as Coinbase and Bitfinex promised Bitcoin holders with equivalent Bitcoin2x amount, supposedly after the fork. Moreover, everyone likes to have an easy piece of the cake, and as such, the community is going back into Bitcoin to gain their share, with Bitfinex even going as far as to allowing their traders to purchase futures in B2X. Normally, this wouldn’t be the case.

So with Bitcoin hitting an insane curve within its momentum, the digital currency pushed through the roof with $7,800 market worth, dropped back, and have now found a stable footing at around $7,400.

On the other end of the line however, is Ethereum, which despite launching the first part of its latest update Byzantium, have been quite stagnant lately, just going between $290 and $310, falling really far behind.

Litecoin however, is seeing better days, leaving its $54-$58 worth and finding higher footing in $65. That’s not all, as South Korea, who is responsible for 25% of Litecoin’s global trade, opened up to trading with LTC.

NEO has been steadily surging upwards as well, going to as high as 25% within hours. The Chinese based crypto previously traded at $26 and went up to $32 in minutes, going stable to $31 with a $1.5 billion market cap.

Last but not the least is OmiseGo, another altcoin that fared the same results with NEO. Long been undervalued, the digital currency rose from $6 to $8.5, and went to $7.8 in the market, slowly steadying as time goes by.

These digital currencies are a long way from the top-dog Bitcoin, but it goes without saying that almost all of them are slowly breaking the surface, getting their own share of the spotlight.