Altcoins Plunge to 5-Year Low Amid Crypto Sell-Off

The lowest-level, highest-risk tokens are reportedly faring the worst in the recent crypto sell-off.

That’s according to a report Monday (Nov. 17) from Bloomberg News, citing the data from the MarketVector Digital Assets 100 Small-Cap Index. That index, which monitors the 50 smallest digital assets in a group of 100, dropped to its lowest level since 2020 on Sunday (Nov. 16).

As Bloomberg notes, this came as bitcoin, the most popular cryptocurrency, lost what had been a 30% gain for the year, weeks after reaching a record high. Altcoins, the report added, are viewed as a barometer for the riskiest speculative assets, and are badly trailing their more popular counterparts this year.

In the past five years, the small-cap…

Source link