Altcoins surge as meme coins dominate cryptocurrency market.

Altcoins like Litecoin and XRP rose by about 5% while bitcoin and ether remained flat. Ripple announced its acquisition of Swiss crypto custody services firm Metaco, expected to expand its overseas presence. Investors have shifted their attention towards smaller and newer tokens, or "altcoins," during this recurring period in the bitcoin cycle known as "altcoin season." Despite recent volatility, crypto price action has been relatively subdued for the past month. Bitcoin and ether continued to hover around the flat line at $27,000 and $1,800 levels, respectively.