Best Altcoins of the 2023 Summer so far

Is it finally altcoin season (the moment when 75% of all CoinMarketCap top 50 altcoins outperform Bitcoin)? Well, not yet, but it’s getting closer as Bitcoin seems to struggle to break the $30k mark and move up to $35k or even $40k. Let us take a look at which altcoins have had the best summer months so far.

We’ll discuss three.

Bitcoin Cash – 104% higher in three months

By mid-June, the new crypto platform EDX Markets (backed by three Wall Street financial giants) announced that it would offer four digital coins for trading, namely Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Classic Wall Street investors apparently discovered Bitcoin Cash en masse because that one in particular surged very quickly.

Interest from Asia has kept Bitcoin Cash at that high level for the past few weeks and the currency looks poised for a good second half of the year as well.

XRP – 53% higher in three months

Judge Annalisa Torres’s decision to let both the SEC and Ripple Labs win in their four-year lawsuit has already spilled a lot of ink in global media. For Ripple itself, it resulted in a price explosion for their digital currency XRP.

With the SEC recently announcing that it would most likely appeal the decision, gains were taken by XRP investors over the weekend, yet the coin is still posting very large progress over the past three months.

XLM – 65% higher in three months

Jed McCaleb was Chief Technology Officer at Ripple Labs until 2013, after which he founded his own company and coin called Stellar, or XLM.

XLM and XRP have since been trading very similarly in terms of price and graph because both blockchains have the same structure (not surprising as they were designed by the same person). XLM has therefore made a comeback due to XRP (partly) winning their SEC lawsuit (and making it more likely also for XLM to not be considered a security by the SEC). Investors believe that XLM can surpass the XRP gains, because Stellar is normally a more modern network.