16.03.202116:26 Forex Analysis & Reviews: Altcoin Alice skyrocketed by 60,000% in one minute

While the main cryptocurrencies are floundering around historical highs, other altcoins continue to develop and explore new territories. A real sensation was made by the Alice coin, whose quotes soared into space after passing the listing on the Binance crypto exchange.

Before being added to the cryptocurrency exchange, the token cost $0.1. After listing, altcoin quotes climbed 60,000% in just one minute, to $60. This jump was due to the instant demand that resulted from the addition of the asset to the Binance crypto exchange. At the same time, now the Alice token is quoted at $39 and shows an increase of 39,000%.

It is worth noting that altcoin began to rise sharply in price at the very moment when bitcoin fell to the level of $57,000. Such jumps in the price of altcoins are purely technical phenomena caused by certain factors. This is evidenced by the absolute indifference of the token to a slight decline in bitcoin, as well as the subsequent decrease in the price to the level of $39.

Also, billionaire Elon Musk never ceases to delight his readers. This time, the Tesla founder decided to support the general fashion for NFTs and assimilate it with the Dogecoin cryptocurrency memes. Musk said on his Twitter that he is ready to sell the NFT of the song about non-fungible tokens for 420 million Dogecoin, which is equivalent to almost $24 million.

Despite the increased interest in altcoins, their functionality and prospects are rather vague, and the only token showing progress is the NFT. Also among the promising coins, Ethereum, Polkadot, and Cardano can be noted, which are still being actively researched and do not have a significant margin of safety. The main focus of the market is still tied to bitcoin, which is once again gaining attention.