Crypto Rally: Bitcoin Tops $40K, Ethereum Hits 1.5-Year High, Altcoins Soar

In a week marked by bullish trends, the cryptocurrency market witnessed robust gains from major players like Bitcoin (BTC) and Ethereum (ETH). Notably, several altcoins showcased significant resilience and upward momentum, hinting at potential growth in the near future.

Asus Altcoin Surge: Terra Classic (LUNC) Leads the Pack

The standout performer among altcoins was Terra Classic (LUNC), making an impressive mark with a remarkable 104% surge over the past week, reaching a peak of $0.0002698. Despite a 30.80% increase in the last 24 hours, LUNC is currently trading at $0.000235, demonstrating noteworthy resilience.

Following closely behind, Stacks (STX) secured the second position with a 62% gain during the week. STX is currently trading at $1.06, showing a 30.46% increase in price and an impressive 334.40% surge in trading volume in the last 24 hours.

FTX Token (FTT) also garnered attention, recording a weekly increase of over 34%, currently trading at $4.48. Despite a 5.81% price decrease, FTT displayed a 40.67% surge in trading volume within the last 24 hours.

Other popular altcoins, including THORChain (RUNE), Dogecoin (DOGE), and Solana (SOL), reported gains in their weekly charts, with RUNE up by 24%, DOGE by 15%, and SOL showing a 12% increase, according to data from CoinMarketCap.

Bitcoin reclaimed its position above $40K for the first time since April 28, 2022, marking a celebratory close to the weekend. Speculation surrounding ETF confirmation dates will likely influence whether the $50K milestone arrives sooner rather than later.

As of the latest data from CoinMarketcap, Bitcoin’s price stands at $41,604, accompanied by a 24-hour trading volume of $65.81 billion. The market capitalization sits at $813.81 billion, with Bitcoin’s market dominance at 52.28%. Over the past 24 hours, BTC experienced a 4.99% increase.

Santiment’s analysis on November 28th highlighted the ongoing trend of Bitcoin’s supply moving into self-custody, while the 10 largest Tether exchange wallets reached $15.23B, marking the highest level in 17 months.

Meanwhile, Ethereum achieved a market value of $2,250 for the first time in over 1.5 years. As ETH opens interest and long positions rise, signs of FOMO emerge. However, traders creating leveraged positions introduce an element of risk.

On November 30th, Santiment observed encouraging patterns in Ethereum’s wallet distribution, with exchange wallets at 6-month lows (8.03M $ETH) and non-exchange wallets at an all-time high (41.03M $ETH). The trend indicates a growing preference for self-custody among Ethereum holders.

As of the latest data from CoinMarketcap, Ethereum is valued at $2,230.21, with a 24-hour trading volume of $16.68 billion. Ethereum’s market capitalization is $268.15 billion, and its market dominance is at 17.23%. Over the past 24 hours, ETH witnessed a 3.31% increase.

Related Reading | Bybit Report: Institutional Surge in Ethereum, INS Traders Boost Bitcoin