Altcoins were in rally mode this week after lagging bitcoin in its recent climb to new 2023 highs.
Highlights
- Altcoins were in rally mode this week after lagging bitcoin in its recent climb to new 2023 highs.
- Bitcoin touched an 18-month high and ether broke through the key psychological level of $2,000 for the first time since April.
- Solana notched a 40% weekly gain, Polygon’s MATIC token gained 25% and Cardano’s ADA advanced 17% Bitcoin and ether rose 8% and 15%, respectively, for the week.
- It’s not exactly clear why altcoins had such a great week, but between bitcoin’s recent break above $30,000 and the 10-year U.S.
- Treasury yield falling to start November – after touching a 16-year high in late October – is not exactly surprising.
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