In a playful response to CNBC’s Jim Cramer, who expressed a negative view on altcoins, Changpeng Zhao (CZ), the former Binance CEO, humorously announced the beginning of an “alt season” on social media.
CZ’s statement seemed to mock Cramer’s advice to investors, suggesting they buy Bitcoin instead of altcoins. CoinGecko’s latest data reveals that many altcoins haven’t seen gains comparable to Bitcoin’s recent surge.
Ethereum (ETH), the second-largest crypto, saw a moderate 4.6% increase in the past week, trading at $2,248.02.
Binance’s native token, BNB, had a slight 0.1% uptick, currently priced at $229.63.
Although XRP, Solana (SOL), and Cardano (ADA) experienced marginal gains, none matched Bitcoin’s 5.7% rise in the same period.
Interestingly, Dogecoin (DOGE) was the only altcoin outperforming Bitcoin in the last 24 hours. Cramer’s skepticism toward altcoins, favoring Bitcoin, has drawn mockery from some crypto enthusiasts, with a few going as far as counter-trading based on his suggestions.