Rally

Bitcoin

Polkadot

Polygon

Avalanche

<p>While Bitcoin (BTC) seems to be resting and flirting around the $44,000 level, altcoins have been raging in with the rally even further extended to some of the small-cap altcoins. Over the last seven days, the altcoin space has added $100 billion to the broader crypto market.</p> 
<h3 id="the-altcoin-market-rally">The Altcoin Market Rally</h3> 
<p>On Friday, the world’s second-largest crypto Ethereum (ETH) saw a strong rally moving past $2,300 as the Ethereum network gears up for the <a href="https://coingape.com/eth-price-hits-18-month-high-ethereum-dencun-hardfork-coming-by-january-2024/" target="_blank" rel="noopener">Dencun hardfork</a> in January 2024. While the ETH price has been moving sideways as of now, analysts believe that the rally can continue further after the recent breakout.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">There's still a lot of upside for <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> after this breakout above a crucial resistance. <a href="https://t.co/Elz6yDRewo">pic.twitter.com/Elz6yDRewo</a></p> 
 <p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1733192719990997362?ref_src=twsrc%5Etfw">December 8, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>On the other hand, Cardano (ADA) has been making massive moves. The ADA price is currently up by a staggering 26% trading at $0.59 with a market cap of $20.9 billion. Over the last week, the ADA price has surged by a staggering 53%.</p> 
<p>$ADA’s current trend mirrors 2018-2020, excluding the COVID-19 dip. If the pattern persists, anticipate ADA breaking $0.45 resistance, with a potential rally to <a href="https://coingape.com/markets/cardano-price-as-pump-setup-triggers-is-ada-going-to-1-in-december/" target="_blank" rel="noopener">$1 by late December</a>!</p> 
<p>Avalanche (AVAX) is another cryptocurrency in the top ten list registering double-digit gains. In the last 24 hours, the AVAX price is up by 17% shooting past $31. With this, AVAX has extended its gains to more than 43%. Earlier this week, the Avalanche (AVAX) altcoin <a href="https://coingape.com/avalanche-enters-top-ten-crypto-list-with-avax-price-shooting-17-whats-next/" target="_blank" rel="noopener">entered the top ten list</a> and there’s been no looking back since then.</p> 
<p>As per on-chain data provider Santiment, the social sentiment surrounding altcoins is too euphoric and thus, investors should be cautious about that.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> The notable <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> market leaders over the past 24 hours are <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw">#Cardano</a> (+19%), <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a> (+11%), and <a href="https://twitter.com/hashtag/Optimism?src=hash&amp;ref_src=twsrc%5Etfw">#Optimism</a> (+11%). Each is seeing one of their highest social dominance days of 2023. With this implied <a href="https://twitter.com/hashtag/FOMO?src=hash&amp;ref_src=twsrc%5Etfw">#FOMO</a> kicking in, proceeding with caution is wise. <a href="https://t.co/QvxDrofqJt">https://t.co/QvxDrofqJt</a> <a href="https://t.co/aUqIDoCLho">pic.twitter.com/aUqIDoCLho</a></p> 
 <p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1733192674264645890?ref_src=twsrc%5Etfw">December 8, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h3 id="polygon-matic-and-polkadot-dot-join-the-party">Polygon (MATIC) and Polkadot (DOT) Join the Party</h3> 
<p>While the top ten altcoins have grabbed all the limelight recently, the small-cap altcoins have been also making big moves. Polygon’s native cryptocurrency MATIC is up 7.8% in the last 24 hours, once again moving past $0.91.</p> 
<p>Crypto analyst Ali Martinez notes significant accumulation of $MATIC between $0.80 and $0.86, with 42,000 addresses holding nearly 5.8 billion MATIC in this crucial demand zone. With limited resistance, Polygon appears set for a bullish run if this level remains intact.</p> 
<figure id="attachment_168463" aria-describedby="caption-attachment-168463" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-168463" src="https://coingape.com/wp-content/uploads/2023/12/Polygon-MATIc-Chart.jpeg" alt="" width="2338" height="846" srcset="https://coingape.com/wp-content/uploads/2023/12/Polygon-MATIc-Chart.jpeg 2338w, https://coingape.com/wp-content/uploads/2023/12/Polygon-MATIc-Chart-300x109.jpeg 300w, https://coingape.com/wp-content/uploads/2023/12/Polygon-MATIc-Chart-1224x443.jpeg 1224w, https://coingape.com/wp-content/uploads/2023/12/Polygon-MATIc-Chart-768x278.jpeg 768w, https://coingape.com/wp-content/uploads/2023/12/Polygon-MATIc-Chart-1536x556.jpeg 1536w, https://coingape.com/wp-content/uploads/2023/12/Polygon-MATIc-Chart-2048x741.jpeg 2048w, https://coingape.com/wp-content/uploads/2023/12/Polygon-MATIc-Chart-150x54.jpeg 150w" sizes="(max-width: 2338px) 100vw, 2338px">
 <figcaption id="caption-attachment-168463" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://twitter.com/ali_charts/status/1733272747164549247" target="_blank">Ali Martinez</a>
 </figcaption>
</figure> 
<p>Similarly, Polkadot (DOT) has surged a staggering 19% shooting all the way to $7.5 with a market cap of $9.3 billion. The DOT price is already up by more than 36% on the weekly chart.</p> 
<p>The post <a rel="nofollow" href="https://coingape.com/altcoin-market-rally-polygon-matic-and-polkadot-dot-join-the-party/">Altcoin Market Rally: Polygon (MATIC) and Polkadot (DOT) Join the Party</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.</p>

Altcoin Market Rally: Polygon (MATIC) and Polkadot (DOT) Join the Party

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