Top 5 Altcoins Surge in Crypto Market, KASPA Leads with 25% Jump

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The cryptocurrency market experienced a significant surge on November 15, adding over $100 billion to its overall valuation. However, the market corrected the following day, partially reducing its gains. Despite this intraday drop, there were several altcoins that stood out with their positive performance.Kaspa (KAS) made the largest leap among the top 50 cryptocurrencies, jumping 25% and reaching a record high of $0.13 on November 16. This resulted in monthly gains of over 200% for Kaspa coin. The surge in trading volumes along with the price increase suggests a high demand for the coin, indicating potential for further growth.Avalanche (AVAX) took second place with a 13% uptrend on November 16, reaching just under $23, the highest price since August 2022. AVAX also managed to overcome a significant resistance line that had been hindering its rallies since May 2022. If the rally continues, AVAX could reach its former resistance at $30, representing a 35% uptrend.THORChain’s RUNE token experienced an 11% jump on November 16, bringing its gains since October 20 to over 330%. This surge followed Grayscale’s re-filed application for a spot Bitcoin ETF. Additionally, RUNE outperformed all leading altcoins in the previous 90 days, with a notable increase in trading volume.Dogecoin (DOGE), known as a memecoin, saw a 7% increase in the previous 24 hours, reaching $0.077. DOGE also broke out of a technical setup called the “falling wedge,” which is a bullish reversal pattern. Technical analysis suggests a target DOGE price of $0.11, 50% higher than its current value.Cardano (ADA) added 5% to its valuation on November 16, reaching $0.38. Since October 20, ADA has gained 60%. Although ADA’s jump was relatively smaller compared to other coins on the list, it was among the top 5 cryptos favored by investors, with an inflow of $8 million year-to-date. In contrast, Ethereum (ETH), Cardano’s biggest competitor, experienced an outflow of $58 million in the same period.Overall, the crypto market experienced a significant surge followed by a correction. Despite the intraday drop, several altcoins showed positive performance, indicating potential for further growth.

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