Crypto Asset Prices Spike Massively, Speculators Claim ‘Altcoin Season’ Is Here

A number of crypto-asset markets saw significant gains on Saturday, as a myriad of digital assets spiked between 4-40% in value during the last 24 hours. The entire crypto market capitalization had risen above $540 billion, as top-ten coin values from the likes of bitcoin cash, cardano and XRP jumped massively in value.

On Saturday, November 21, 2020, the overall market valuation of all 7,000+ crypto-assets in existence is around $520 to $540 billion. At the time of publication, there’s also around $20 to $32 billion in global trade volume as well.

The top digital currency in terms of market cap, bitcoin (BTC) jumped over 1% today and coasted along at a daily high at $18,840 per unit. BTC’s modest gains today is nothing compared to a number of coins that have jumped significantly in value.

The altcoin spark has caused a number of speculators to believe that a highly anticipated ‘altcoin season’ is looming on the horizon. For instance, the third-largest market cap today is held by XRP and the asset saw a 33%+ spike on Saturday driving the price up to $0.42 per unit high.

The second-largest crypto by market valuation, ethereum (ETH) traded for $540 per ether at its high and is still up over 4% today. Chainlink (LINK) jumped over 8% and LINK now trades at over $15 per coin. Litecoin (LTC) has seen a phenomenal week gaining 38% during the last seven days. LTC is up over 7% on Saturday afternoon (EST) and had traded at a daily high at $87.46 per coin.

Bitcoin Cash (BCH) is up 14% this week and most of that stems from the 18%+ jump BCH experienced this Saturday. BCH is was swapping for $303 per coin, as the crypto asset crossed over the psychological $300 resistance zone. Currently, BCH is trading between $296 and $301 at the time of publication.

Polkadot (DOT) bounced 6.9% and the crypto asset BNB gained 5% on Saturday. The tenth position in terms of market cap, cardano (ADA), leaped over 17.6% this weekend and was trading at a $0.128 per unit daily high.

The biggest gainer on Saturday is crypto.com’s MCO coin, which gathered 109% in value and the biggest loser is indorse token (IND) which lost 59% today.

According to a number of posts on the Reddit forum r/cryptocurrency and trending conversations on Twitter, numerous individuals believe “altcoin season is back,” because of Saturday’s altcoin market performances. Other notable gainers today include; EOS (15%), XLM (20%), VET (19%), IOTA (19%), DOGE (18%), and ALGO (14%).

“November 2020: Official Altcoin Season Starts. Let the games begin,” tweeted the Twitter account ‘Cryptobud.’

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