According to tweets from cryptocurrency analytics site Swissblock, altcoins are starting to agitate the cryptocurrency markets. In the previous 24 hours, gains were made by Solana (SOL), Ethereum (ETH), and the Ripple-affiliated XRP.
There are indications that a new altcoin season may be approaching as Bitcoin’s (BTC) supremacy starts to wane, according to Yann Allemann, co-founder of Glassnode.
ETH is now up somewhat over the day by 0.16%, trading around $1,853.
XRP and SOL, two further cryptocurrencies, have both experienced significant increases of over 2% apiece. The Altcoin Signal momentarily entered the altcoin season zone due to the cryptocurrencies’ increasing trajectory.
Following Elon Musk’s decision to rename Twitter to X, Dogecoin (DOGE), an altcoin renowned for its compelling story, is leading the pack in market gains during this movement.
The performance of XRP is particularly notable during the current cryptocurrency surge. Data from CoinGecko show that XRP is now trading at $0.72, a rise of 2.4%.
Its most recent rise was following a favourable decision in the Ripple v. SEC lawsuit. The contentious coin continues to generate a lot of attention from traders, achieving a $1.4 billion trading volume in a single day.
Although the ETH/BTC pair is outperforming BTC in the near run, the midterm study predicts ETH gaining the lead, which might contribute to the next cryptocurrency surge.
