Altcoins bag massive gains amid Bitcoin’s climb: Stellar, Cardano and Kusama up double digits Altcoins bag massive gains amid Bitcoin’s climb: Stellar, Cardano and Kusama up double digits
Since Donald Trump won the U.S. elections, crypto market optimism has skyrocketed, pushing Bitcoin and altcoins to bag significant gains.
2 min read
Updated: Nov. 23, 2024 at 6:42 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
As Bitcoin continues its race to break the $100,000 mark, altcoins are raking in massive gains. Ethereum (ETH), the second-largest cryptocurrency, climbed 3.25% to $3,424.59 on Saturday, but its weekly gains of 7.83% exceed that of Bitcoin, CryptoSlate data indicates. The price of the largest altcoin is, however, still nearly half of its all-time high of $4,864.11 while its market cap stands at $409 billion.
Solana (SOL) posted meager gains of 0.24% on Saturday, but its price is up 19.35% over the past seven days. SOL price reached an all-time high of $264 on Friday. The price of Dogecoin (DOGE) climbed 15.12% over the past week and stood at $0.42 at the time of writing. DOGE price is up by over 37% compared to last month.
Although XRP price fell by 2.34% today, the cryptocurrency’s price has climbed by over 180% over the past month.
Among the top 10 altcoins, Cardano (ADA) posted the highest gains over the past week, climbing 36.81% to $1.03 with a market cap of $36 billion at the time of writing. On Saturday, the altcoin bagged gains of 7.12% while ADA price has grown by more than 200% over the past 30 days.
Avalanche (AVAX) also amassed significant gains of 18.8% over the past seven days with its price reaching $41.43 on Saturday. Over the past month, the price of AVAX has grown by over 60%.
Tron (TRX) price rose nearly 6% on Saturday to reach $0.21. Over the past 30 days, the altcoin has bagged gains of over 28%. On the other hand, Ton (TON) price grew by nearly 16% on Saturday to $6.36. The altcoin’s monthly gain stands at around 85%.
The price of Stellar (XLM) rose by over 66% today to $0.49. Over the past month, the altcoin’s price has increased by 430%, data shows. Polkadot (DOT) price grew by 35.93% over the past 24 hours and stood at $8.60 at the time of writing.
Today’s biggest gainer is Kusama (KSM), which grew by over 111% over the past 24 hours to $46.05 at the time of writing. But even with today’s gains, the altcoin’s price is still 93% below its all-time high.
A sustained positive movement in Bitcoin price has almost always triggered a rally among altcoins, and it is no different this time. Since Donald Trump won the U.S. presidential election earlier this month and boosted market optimism, Bitcoin price has soared, growing 44% over the past 30 days. Even with Bitcoin in the red on Saturday with a dip of 1.01%, it is still on track to reach $100,000 over the next few weeks and the altcoins are following the trail.
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Author 
Monika Ghosh
In 2020, Monika immersed herself in crypto, maintaining skepticism yet firmly believing blockchain could address key issues like financial disparity and transparency. A book-lover, she's also a passionate food enthusiast.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,408.97
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Dogecoin
$0.42364
Dogecoin is a cryptocurrency created in December 2013 as a joke by software engineers Billy Markus and Jackson Palmer.
Solana
$254.861
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
XRP
$1.47641
The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
Cardano
$1.06211
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.