The cryptocurrency market is experiencing active growth among altcoins, while Bitcoin and Ethereum maintain their positions. Let’s examine the top altcoins and their performance over the last week.
Overview of Altcoins
Currently, Bitcoin is trading at $117,000 while Ethereum is close to the $4,500 mark. Some altcoins such as OKB, KuCoin, Cardano, Hyperliquid, and Arbitrum have shown double-digit gains over the past week.
- OKB increased by over 100% in anticipation of burning half its supply. - KuCoin rose nearly 20% due to demand driven by the $2 billion 'Trust Project' initiative. - Cardano posted a 20% rise following the trends of Bitcoin and Ethereum. - Hyperliquid saw a 15% uptick with a trading volume around $30 billion, attributed to whale accumulation. - Arbitrum climbed by 10% with institutional adoption.
Performance of Cardano and KuCoin
Cardano is currently trading at $0.9517, close to the psychological level of $1. The resistance levels for ADA are $1.1723 and $1.3264.
KuCoin (KCS) is trading at $5.91, with the closest resistance at $8.71 and nearest support at $3.40. As positive momentum is maintained, KCS is expected to continue its rally.
State of Bitcoin and Ethereum Market
Bitcoin corrected to $117,374 after hitting a new all-time high at $124,474. The support for Bitcoin might be found at $111,750. Ethereum, for its part, is less than 10% away from its previous record, facing resistance at the $4,800 level. The $4,000 level will serve as a significant liquidity point in case of a correction.
The cryptocurrency market reveals interesting trends, with many altcoins demonstrating substantial growth. The potential for such dynamics may suggest the possibility of an upcoming altcoin season.
