Ethereum Jumps 10%—Could Altcoin Season Be Starting?

Ethereum surged 10.66%, reaching $47.87 billion in trading volume on November 27, 2024, outpacing Bitcoin’s 4.4% gain.

Despite BTC outperforming ETH this year, Ethereum tends to shine when Bitcoin slows down. Ether’s popularity soared, with Tether (USDT) as the top trading pair, and $56.5 million in liquidations, mainly from short positions. At $3,647, Ethereum still needs a 24.8% climb to hit its 2021 all-time high of $4.8K.

This rally has sparked speculation, with analysts predicting a potential 120% rise to $7,500, fueling optimism for an upcoming “altcoin season” as Ethereum’s momentum continues.

Clever Robot News Desk 29^th November 2024