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A number of cryptocurrency markets posted significant gains on Saturday, as a myriad of digital assets increased between 4-40% in value over the past 24 hours. The entire market capitalization of cryptocurrencies has risen to over $ 540 billion, as the values of the top ten coins of bitcoin cash, cardano and XRP have soared in value.
On Saturday, November 21, 2020, the combined market valuation of all over 7,000 existing cryptocurrencies is between $ 520 and $ 540 billion. At the time of publication, the global trading volume is between $ 20 and $ 32 billion.
The leading digital currency in terms of market capitalization, bitcoin (BTC) jumped more than 1% today and hit a daily high of $ 18,840 per unit. BTC’s modest gains today are nothing compared to a number of coins that have significantly increased in value.
– Du’An Lightfoot (@labeveryday) November 21, 2020
The altcoin spark has led a number of speculators to believe that a long-awaited “ altcoin season ” is looming on the horizon. For example, the third largest market cap today is held by XRP, and the asset saw a 33% + peak on Saturday bringing the price down to $ 0.42 per unit.
The second largest cryptocurrency by market valuation, ethereum (ETH) traded for $ 540 per ether at its highest and is still up more than 4% today. Chainlink (LINK) has jumped more than 8% and LINK is now trading at over $ 15 per coin. Litecoin (LTC) has seen a phenomenal week gaining 38% over the past seven days. LTC was up more than 7% on Saturday afternoon (EST) and had traded at a daily high of $ 87.46 per coin.
#Altcoin the season is back !!! 🌊
– Justin Nguyen (@ justinizc00l) November 21, 2020
Bitcoin Cash (BCH) was up 14% this week and most of that comes from the 18% + BCH jump recorded this Saturday. BCH was trading for $ 303 per coin, as the crypto asset crossed the $ 300 psychological resistance zone. Currently, BCH is trading between $ 296 and $ 301 at the time of publication.
Polkadot (DOT) rebounded 6.9% and the crypto asset BNB gained 5% on Saturday. The tenth position in terms of market cap, cardano (ADA), jumped more than 17.6% this weekend and was trading at a daily high of $ 0.128 per unit.
The biggest gain on Saturday is crypto.com’s MCO coin, which reaped 109% in value and the biggest loser is indorse token (IND) which lost 59% today.
According to a series of posts on the Reddit forum r / cryptocurrency e trendy conversations on Twitter, numerous people to believe “The altcoin season is back,” due to the performance of the altcoin market on Saturday. Other notable gains today include; EOS (15%), XLM (20%), VET (19%), IOTA (19%), DOGE (18%) and ALGO (14%).
“November 2020: Official Altcoin Season Begins. Get the Dancing Beginning,” tweeted the Twitter account “Cryptobud”.
What do you think of the performance of the altcoin this weekend? Let us know what you think about this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
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