Crypto market capitalization surged to an all-time high of $3.44 trillion on Friday, Nov. 22. It has been primarily driven by Bitcoin, which topped $99,000 at a new all-time high as its dominance remains high at over 60%.\u00a0However, several altcoins are also making big moves, with many showing double-digit growth today.<\/p>\n
Solana<\/a> (SOL) is the standout at the moment, hitting an all-time high of $263 on Friday morning, following an 11% gain on the day. Moreover, SOL has gained a whopping 160% so far this year. However, momentum for the network has largely been driven by meme coin degens.<\/p>\n Solana momentum has also been driven by multiple applications for spot SOL ETFs by issuers, including Bitwise, VanEck, and 21Shares, this week.<\/p>\n It has also been boosted by the news of Gary Gensler\u2019s departure<\/a> from the SEC on January 20 which has greatly increased the odds of these funds being approved.<\/p>\n Solana just hit a new all-time high.<\/p>\n Congratulations to everyone who held through the 97% drawdown over the last few years. pic.twitter.com\/rJdI6x4zmt<\/a><\/p>\n \u2014 Anthony Pompliano (@APompliano) November 22, 2024<\/a><\/p>\n\n XRP was also on fire today, surging<\/a> 25% on the day to hit a three-year high of $1.42 during the Asian trading session on Friday.\u00a0Hope that Ripple\u2019s multi-year legal battle with the SEC will be resolved positively has driven momentum for the cross-border token recently.<\/p>\n Other altcoins outperforming today include Cardano (ADA), which made 12%, topping out at $0.893, its highest since April 2022.<\/p>\n Stellar (XLM) mirrored XRP\u2019s move with an 18% move to reach $0.288 on Friday morning. Cronos (CRO) was also doing well, hitting $0.20 following a 14% daily gain.<\/p>\n Most of the altcoins, but primarily Ethereum, have been slow to react, sparking speculation that in this cycle, Bitcoin will remain dominant and that the altseason may be muted.<\/p>\n It\u2019s quite possible that this upcoming altseason is very different than the ones in the past. Previous altseasons had a natural flow of $BTC<\/a> \u2013> trickling to our shitcoins. This time, the billionaires are not buying FARTCOIN. BTC stays in its lane and shitcoins theirs.<\/p>\n \u2014 Altcoin Sherpa (@AltcoinSherpa) November 22, 2024<\/a><\/p>\n\n Despite an 8% gain on the day, ETH failed to break resistance and only managed to reach $3,418 during the rally.<\/p>\n ETH still hasn\u2019t reached its July levels of over $3,500 and remains more than 30% down from its all-time high. It is also still down 17% from its 2024 high of $4,070 hit in March.<\/p>\n Analysts have pointed out that Ethereum usually lags in previous cycles, and its time will come; however, that is of little consolation to\u00a0ETH holders<\/a> who are getting left behind at the moment.<\/p>\n The post Gensler\u2019s Departure Turns Altcoins on Fire: Solana Hits ATH, XRP up 25%<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Crypto market capitalization surged to an all-time high of $3.44 trillion on Friday, Nov. 22. It has been primarily driven by Bitcoin, which topped $99,000 at a new all-time high as its dominance remains high at over 60%.\u00a0However, several altcoins are also making big moves, with many showing double-digit growth today. Solana (SOL) is the […]<\/p>\n","protected":false},"author":0,"featured_media":22598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-22597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22597"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22597"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/22598"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Altcoins Awaken<\/h2>\n
Ethereum Left Behind?<\/h2>\n