Top alternative cryptocurrencies (altcoins) like Solana (SOL) traded higher on Sunday as Bitcoin (BTC) exhibited some resilience. Solana rose 5%, leading gains among major altcoins.
The total crypto market cap stands at $1.1 trillion, and Bitcoin is up 0.6% to $27,114, maintaining its huge $528 billion market cap despite being down significantly from its peak.
October has historically been the most bullish month for Bitcoin, with average gains of 12% over the years. This has analysts speculating Bitcoin may be ready to rally.
Meanwhile, Shiba Inu (SHIB) is barely holding onto its spot in the top 20 cryptos. SHIB is up just 1.2% at $0.00000742 due to lackluster interest after the launch of its Shibarium Layer-2 solution. Shibarium is processing only about 20,000 transactions per day so far.
SHIB’s market cap sits at $4.35 billion as it clings to a top 20 position. Other altcoins like Solana, Cardano, and Polygon are seeing more momentum to start the October trade.
If Bitcoin can maintain its resiliency and mount a fall rally, it could provide an upside for altcoins looking to regain strength. Crypto investors will be watching to see if historical October bullishness materializes for Bitcoin once again.
