Bitcoin (BTC) and Ethereum (ETH) showcased resilience and noteworthy movements, but it was the altcoins that stole the spotlight with remarkable gains, indicating potential for further growth in the near future.
BLUR Shines with 60% Surge, UNI & AXS Follow Suit
Among the standout performers in the top 80 cryptocurrencies list, Blur (BLUR) emerged as the star, posting an impressive 60% surge over the week and reaching a peak of $0.6794. Despite a dip of 8.80% in the last 24 hours, BLUR is currently trading at $0.5505, demonstrating robust overall performance.
Uniswap (UNI) and Axie Infinity (AXS) closely followed BLUR, securing the second and third positions with significant growth. Uniswap (UNI) experienced a 24% gain over the past week, currently trading at $6.14, reflecting a 1.46% increase in price and a 26.49% uptick in trading volume in the last 24 hours.
Meanwhile, Axie Infinity (AXS) garnered attention with a 14% weekly increase, reaching $7.10. AXS also saw a 13.81% price increase and an impressive 170.84% surge in trading volume within the last 24 hours.
Other popular altcoins, including FTX Token (FTT), The Graph (GRT), and Aave (AAVE), also reported gains in their weekly charts. FTT recorded a 17% increase, GRT showed a 10% uptick, and AAVE displayed an 8% rise, according to data from CoinMarketCap.
Bitcoin Surges to $38.3K with Tether Boost, Eyes $40K
Bitcoin reached $38.3K, marking its highest point since May 5, 2022. A notable contributor to this uptrend is the addition of $1.67B by the top 100 largest Tether addresses in the past six months. If the buying power of whale $USDT continues to rise, there is optimism for Bitcoin to surpass $40K in the near future.
As of the latest data from CoinMarketCap, Bitcoin is currently trading at $37,326.19, with a 0.23% increase over the past seven days and a 1.36% decrease in the past 24 hours.
Changelly’s recent Bitcoin price forecast predicts a 3.23% increase, projecting a value of $38,666 by November 28, 2023. Technical indicators from Changelly suggest a Neutral Bullish market sentiment of 70% for Bitcoin, while the Fear & Greed Index displays a score of 73 (Greed). Bitcoin’s recent performance includes 17 out of 30 (57%) green days and a 3.30% price volatility over the last 30 days.
Ethereum Surges, Wallets Accumulate, Eyes New Highs
Ethereum showcased strength by surpassing a key resistance zone between $1,982 and $2,044. During this period, 1.67 million wallets acquired 38.7 million $ETH. With minimal resistance ahead and solid support below, remaining above this demand area could pave the way for Ethereum to reach new yearly highs.
Santiment reported that the 200 largest Ethereum wallets now hold a combined 62.76 million $ETH, valued at approximately $124.1 billion. These wallets have accumulated 30.3% more coins since November 21, 2022. Additionally, a significant spike was observed on November 24, with 94.7K new $ETH wallets created, marking the highest since July.
Ethereum crossed the $2000 mark with substantial volume supporting its movement. Data from IntoTheBlock indicates that over 500k ETH has left exchanges for non-custodial wallets this month, reaching a three-month high of $1 billion in total outflows.
According to the latest data from CoinMarketcap. Ethereum (ETH) is trading at $2,050.05, displaying a 1.36% decrease in the past 24 hours and a 2.58% gain over the past seven days.
Related Reading | Kraken Founder Warns Of Ongoing Crypto Threats Amid Binance’s Regulatory Battles