Solana

Gary

Sherpa

<p>Crypto market capitalization surged to an all-time high of $3.44 trillion on Friday, Nov. 22. It has been primarily driven by Bitcoin, which topped $99,000 at a new all-time high as its dominance remains high at over 60%.&nbsp;However, several altcoins are also making big moves, with many showing double-digit growth today.</p>
<p><a href="https://cryptopotato.com/solanas-monthly-dex-volume-breaks-70b-for-the-first-time/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> (SOL) is the standout at the moment, hitting an all-time high of $263 on Friday morning, following an 11% gain on the day. Moreover, SOL has gained a whopping 160% so far this year. However, momentum for the network has largely been driven by meme coin degens.</p>
<h2 id="altcoins-awaken">Altcoins Awaken</h2>
<p>Solana momentum has also been driven by multiple applications for spot SOL ETFs by issuers, including Bitwise, VanEck, and 21Shares, this week.</p>
<p>It has also been boosted by the news of Gary Gensler’s <a href="https://cryptopotato.com/sec-chairman-gary-gensler-confirms-he-will-step-down-in-january/" data-wpel-link="internal" rel="noopener noreferrer nofollow">departure</a> from the SEC on January 20 which has greatly increased the odds of these funds being approved.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">Solana just hit a new all-time high.</p>
 <p>Congratulations to everyone who held through the 97% drawdown over the last few years. <a href="https://t.co/rJdI6x4zmt" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/rJdI6x4zmt</a></p>
 <p>— Anthony Pompliano (@APompliano) <a href="https://twitter.com/APompliano/status/1859799961950617623?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">November 22, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>XRP was also on fire today, <a href="https://cryptopotato.com/xrp-army-rejoice-ripples-26-daily-price-surge-with-predictions-of-up-to-30-per-coin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">surging</a> 25% on the day to hit a three-year high of $1.42 during the Asian trading session on Friday.&nbsp;Hope that Ripple’s multi-year legal battle with the SEC will be resolved positively has driven momentum for the cross-border token recently.</p>
<p>Other altcoins outperforming today include Cardano (ADA), which made 12%, topping out at $0.893, its highest since April 2022.</p>
<p>Stellar (XLM) mirrored XRP’s move with an 18% move to reach $0.288 on Friday morning. Cronos (CRO) was also doing well, hitting $0.20 following a 14% daily gain.</p>
<p>Most of the altcoins, but primarily Ethereum, have been slow to react, sparking speculation that in this cycle, Bitcoin will remain dominant and that the altseason may be muted.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">It’s quite possible that this upcoming altseason is very different than the ones in the past. Previous altseasons had a natural flow of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> –&gt; trickling to our shitcoins. This time, the billionaires are not buying FARTCOIN. BTC stays in its lane and shitcoins theirs.</p>
 <p>— Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1859812250556698663?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">November 22, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 id="ethereum-left-behind">Ethereum Left Behind?</h2>
<p>Despite an 8% gain on the day, ETH failed to break resistance and only managed to reach $3,418 during the rally.</p>
<p>ETH still hasn’t reached its July levels of over $3,500 and remains more than 30% down from its all-time high. It is also still down 17% from its 2024 high of $4,070 hit in March.</p>
<p>Analysts have pointed out that Ethereum usually lags in previous cycles, and its time will come; however, that is of little consolation to&nbsp;<a href="https://cryptopotato.com/retail-investors-persist-in-holding-eth-despite-assets-recent-surge-cryptoquant/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">ETH holders</a> who are getting left behind at the moment.</p>
<p>The post <a href="https://cryptopotato.com/genslers-departure-turns-altcoins-on-fire-solana-hits-ath-xrp-up-25/" rel="noopener noreferrer nofollow">Gensler’s Departure Turns Altcoins on Fire: Solana Hits ATH, XRP up 25%</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Gensler’s Departure Turns Altcoins on Fire: Solana Hits ATH, XRP up 25%

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