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Altcoins in the Limelight — LUNC, IOTA, and ORDI Dominate This Week’s Crypto Gains

Altcoins in the Limelight — LUNC, IOTA, and ORDI Dominate This Week's Crypto Gains

Over the last week, both bitcoin and ethereum experienced significant upticks, with increases of 13% and 10% respectively. Meanwhile, an array of other cryptocurrencies achieved even more impressive growth during the same period. Notably, terra luna classic (LUNC) surged by 122.5% against the dollar, while the BRC20 token ORDI ascended by 118.3%.

Alternative Cryptos Gather Double and Triple Digit 7-Day Gains

This week witnessed a group of six cryptocurrencies, including LUNC, ORDI, IOTA, TIA, STX, and WEMIX, soaring over 50% in value compared to the dollar. Coinciding with BTC’s climb to levels unseen since the Terra LUNA debacle, LUNC marked a remarkable triple-digit rise of 122.5%.

In the same vein, ORDI escalated by over 118%, while IOTA leaped by 89.9%. Weekly statistics show TIA’s increase at 54.2%, WEMIX at 52.5%, and STX climbing by 50.3%. At present, the overall value of the crypto market stands at $1.611 trillion, marking a 3.9% elevation from the previous day.

The market is bustling with a global trading volume of around $106.47 billion across 11,277 cryptocurrencies on 940 exchanges. As of Monday, December 4, 2023, bitcoin’s market dominance is at 50.9%, with ethereum following at 16.8%.

Besides the six standout performers this week, FXS, NEAR, RUNE, LUNA 2.0, and TAO all recorded over 20% growth against the U.S. dollar. Conversely, six cryptocurrencies, including TON, INJ, BGB, AXS, ILV, and LEO, witnessed declines of more than 2% over the past week.

In the realm of trade volumes, tether (USDT) leads the pack with $55.40 billion over the last 24 hours, while bitcoin (BTC) secures the second position with a global volume of $29.67 billion. Other volume frontrunners encompass ETH, SOL, XRP, DOGE, BNB, and LUNC.

In line with these price increases, a significant $182.58 million worth of crypto shorts were liquidated in the last 24 hours, according to Coinglass stats. Other notable liquidations originated from BTC, ETH, SOL, LUNC, STX, LINK, and ORDI, with BTC experiencing $1.39 million, ETH at $625K, and SOL at $567K in liquidations over the same period.

What do you think about the altcoin market performances over the past seven days? Share your thoughts and opinions about this subject in the comments section below.