The crypto market is demonstrating activity with significant gains in Bitcoin and altcoins. While Bitcoin has reached an all-time high, other digital assets are also showing substantial price fluctuations.
Overall Trends in the Crypto Market
Bitcoin (BTC) briefly surpassed the $121,000 mark, setting a new all-time high. Its current price is around $120,759 with a 2.54% increase for the day. While most altcoins are showing positive dynamics, trading statistics reflect the highest volumes in tokens such as ALGO, PENGU, and HBAR.
Top Gainers: Pudgy Penguins and Hedera
Pudgy Penguins (PENGU) has shown significant growth throughout the week, increasing by 85%. The price reached approximately $0.0295, with trading volume topping $1.8 billion. Market researchers note that the memecoin benefits from its NFT brand and upcoming ecosystem developments, including merchandise production and novelty in the ETF sphere.
Hedera (HBAR) also made a noticeable impact with a 27% rise, now trading at $0.253. Analysts suggest that its growth may repeat patterns of 2021, supported by increased developer activity and rising enterprise interest.
Analysis and Predictions for Altcoins
Stellar (XLM) has recorded a 22% rise, reaching $0.50 fueled by buzz around the Stellar Core upgrade. Trading metrics on South Korean exchanges have significantly increased, showing activity in the range of $460 million in 24 hours. Analysts suggest that the transition period in Bitcoin's dominance may lead to further growth in altcoins in the coming days. Expert evaluations indicate that the existing wave of interest toward PENGU, XLM, and HBAR may increase their market share.
Current market trends indicate growing interest in altcoins, corroborated by trading volumes and positive feedback from analysts. This wave of growth may continue if Bitcoin stabilizes at high levels.
