Market Update: Crypto Asset Prices Spike Massively, Speculators Claim 'Altcoin Season' Is Here

Sunday 22 November 2020, 6:03 AM AEST - 3 days ago

Market Update: 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, theres 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. BTCs modest gains today is nothing compared to a number of coins that have jumped significantly in value.

— Du'An Lightfoot (@labeveryday) November 21, 2020

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 l ...

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