Hold on to your hats, folks, because the altcoin party has finally kicked off! With the unexpected news of SEC's Gary Gensler taking a bow, altcoins are dancing their way to double-digit gains. The crypto world is buzzing with excitement, and here's why.
The total value of all cryptocurrencies skyrocketed to a jaw-dropping $3.44 trillion on Friday, November 22. Bitcoin led the charge, smashing through the $99,000 barrier like a champ, maintaining a hefty 60% market dominance. But wait, altcoins are not just sitting on the sidelines; they're making some serious moves too!
Let's talk about Solana (SOL) – it's the talk of the town right now. With an 11% leap in a single day, SOL hit a new high at $263. And here's the kicker – it's up a staggering 160% this year! A lot of this hype comes from the meme coin enthusiasts, but there's more to SOL's story. The excitement has been fueled by several applications for spot SOL ETFs from big names like Bitwise, VanEck, and 21Shares. Plus, the news of Gensler's exit has upped the chances of these funds getting the green light.
Ripple's XRP is also stealing the spotlight, soaring 25% to reach a three-year high of $1.42. The hope that Ripple might finally shake off its long-standing legal tussle with the SEC has put some serious wind in its sails.
Not to be outdone, Cardano (ADA) chimes in with a 12% rise, hitting its highest point since April 2022 at $0.893. Stellar (XLM) is following XRP's lead, jumping 18% to $0.288. And let's not forget Cronos (CRO), climbing to $0.20 with a 14% daily boost.
But here's the twist – Ethereum, the usual showstopper, is taking its sweet time. Despite an 8% gain, ETH just couldn't break through its resistance, maxing out at $3,418. It's still lagging behind its peak levels. Analysts are saying this is typical for Ethereum, hinting that patience might pay off. But for ETH holders, the wait is starting to feel like an eternity.
So, grab your popcorn and watch this space – the crypto scene is sizzling, and the altcoin party is just getting started!
