Altcoins post double-digit gains as bitcoin accelerates past $7,00096

Altcoins across the board—including Ethereum, Bitcoin Cash, Litecoin, EOS, and Binance Coin—are surging as Bitcoin makes its ascent past $7,000.

Altcoins have been hemorrhaging capital as bitcoin climbed from $5,687 on May 7 to $6,343 on May 11—an 11.5 percent increase. The relationship is visible when looking at overall market capitalization excluding BTC, which has a direct relationship to the average performance of all altcoins.

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