Altcoins continue to surge, making up for the lost time due to inflation and the bear market, while Bitcoin rests comfortably at around $35K. Crypto analytics platform Santiment revealed data showcasing altcoins rallying with profits from the past couple of weeks funneling into large and mid-cap crypto assets. Is altcoin season here?
Santiment Data Hints At Altcoin Season
As per the data provided by Santiment on November 4, altcoin profits over the past few weeks were continuously channeled into large and mid-cap assets, such as SNT, SUSHI, and BLZ. Moreover, the SNT witnessed 108% gains in the past seven days, along with SUSHI and BLZ, experiencing an increase of 82% and 39%, respectively.
As reported by CoinGape Media earlier today, the cooling down of bond yields and the labor market did not have a massive impact on Bitcoin, although altcoins posed a strong rally.
Earlier this week, the Bitcoin price crossed the $35K mark but failed to maintain its price. Over the past few days, the BTC price has been stuck between $34k and $35k, stirring up speculations in the crypto realm. Investors and traders are keenly eyeing the BTC price as rumors of BTC profits being rotated to Altcoins are creating a frenzy in the crypto realm, following Altcoins rapidly surging.
Top Altcoins For Today
NEO Price Soars
The NEO token witnessed a substantial increase of 22.17% over the past twenty-four hours, reaching $11.39 as of today, November 4. With a weekly increase of 22.20%, the NEO price continues to surge gradually. The recent price surge revolving around NEO appears to come in alignment with the recent launch of numerous NFT projects on N3, a new version of the NEO protocol.
THORChain (RUNE) Price Surges
The RUNE price was up by 18.05% in the past twenty-four hours. Currently, the token is trading at $3.47 with an overall 37.38% increase over the past seven days. The constant price surge in RUNE price may be due to the recent introduction of a new THORChain lending protocol. Moreover, earlier this year, the firm also announced plans to strategically enter into a partnership with Binance, fostering growth for the token.
Oasis Network (ROSE) Price Jumps
As of writing, the ROSE price jumped by 15.94% in the past twenty-four hours, reaching $0.0673, as of today, November 4. The token witnessed substantial gains over the past week, soaring 30.48% in total. The burgeoning price comes in alignment with Santiment data recently revealing social dominance for the Oasis Network and its steady growth over the past month.