Altcoins are currently outperforming other crypto assets in the market surging by double digits and contributing greatly to the inflow of funds into the crypto sector.
Altcoin’s recent surge has singlehandedly pushed the Total market capitalization of all crypto assets to an all-time high of $3.65 trillion.
Altcoin’s surge follows a strong bullish month of November which witnessed various crypto assets hit their all-time high.
Bitcoin the flagship cryptocurrency shattered its all-time high of several months surging as high as $99,000. Memecoins like PNUT and Chill Guy surged astronomically in a matter of days making its early investors very rich.
The November bull run is not entirely over as we begin the new month of December and this is pretty evident in the recent Altcoin surge and current Bitcoin price level.
CoinGecko data reveals that the total crypto market capitalization was $2.43 trillion on November 2. That has surged to $3.62 trillion as of today.
This simple metric reveals that a staggering $1.2 trillion was added to the Total crypto market capitalization in November alone.
Top crypto voices have commented on the November bull run and how it stands to spill into December.
Despite the Bull run last month, Bitcoin failed to surpass the anticipated $100,000 mark in November. The crypto asset dumped to $90,000 in the last week of November before recovering.
Some Altcoins are still basking in the November euphoria surging by over 20% in the past week.
XRP is the trending altcoin of the moment after breaking past the $2 level for the first time since 2018. The crypto asset surged by 88.7% over the past week surpassing Tether and Solana to become the third-largest crypto asset by Market Cap.
The current XRP Market Cap is at $152 billion trailing Bitcoin and Ethereum on the list of top crypto assets by Market cap.
At the time of the report, XRP is exchanging hands for $2.37.
Avalanche (AVAX) is another Altcoin that grew exponentially over the week. The crypto asset surged by 25.2% in the past 7 days and pumped by a whopping 116% in a month.
At the time of the report, the crypto asset is up by 8.4% in the last 24 hours exchanging hands for $50.90.
Cardano over the week hit a 3-year high of 1.21 USDT. The crypto asset surged by 34.2% in the last 7 days making it one of the biggest earners of the week.
Cardano over the week hit a 3-year high of 1.21 USDT. The crypto asset surged by 34.2% in the last 7 days making it one of the biggest earners of the week.
The Altcoin is currently up 17.1% in the last 24 hours but remains over 60% down from its all-time high of $144. Cardano
Cardano at the moment retails for $1.28 and maintains a market cap of $44 billion.