January was a great month for most cryptocurrencies.

The total market capitalization of the cryptocurrency market as a whole jumped 35%, from $193 billion to $255 billion.

sheds a report New from Binance highlights the strength of the altcoin market over the past month.

The total market capitalization of altcoins grew from $61 billion to $86 billion, recording a gain of more than 40%.

The increase in the altcoin market cap has led to a 3% drop in Bitcoin dominance, from 68% to 65% and then 64% at the time of writing.

As for the 3 cryptocurrencies that outperformed Bitcoin by more than 175% in the month of January, it is led by Dash, which rose by 181%.

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It is closely followed by ZCoin, which stands for XZC at 179%.

Then Bitcoin SV (BSV) – not listed on Binance – which gained 177% in January.

This is for cryptocurrencies, which rose by more than 175%, and there are also other alternative currencies that achieved large percentages, including Bitcoin Cash, which rose by 85.2%, as well as Litecoin and Cardano, which rose by 65%.

It also rose:

• Monero coin by 61.7%.
• EOS coin by 59.9%.
• Ethereum coin is 39.9%.
• BNB by 32.8%.
• Ripple is up 24.1%.

The Binance report reveals the role of institutional investors in the market throughout the month.

There was an influx of alternative cryptocurrency purchases, and by mid-January these orders decreased as traders started buying bitcoin.

By the end of the month, according to Binance, fewer traders had sold their altcoin positions, realizing that many altcoin projects were performing as well, if not better, than bitcoin.

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