After SOL and APT, More Altcoin Breakouts? crypto

Along with SOL, a few other cryptocurrencies saw significant price 

increases in the previous week, stoking anticipation of a bull run in 2023.

A few cryptocurrencies earned enormous gains in the last few days, which is a welcome trend. The rise in the price of altcoins followed a protracted period of sideways movement for the price of Bitcoin (BTC). Some of these gains are comparable to price increases that occurred during the altcoin season during previous bull run market cycles. In this situation, the BTC price is still unable to establish support at the level of $16,500.

A Future Altcoin Season?

Three significant cryptocurrencies, Solana (SOL), lido dao token (LDO), and Bitdao (BIT), saw value increases of more than 40% during the course of the previous week. In just one week, the price of Aptos (APT), a different cryptocurrency, increased by over 21%. When you consider the pessimistic attitude the market was experiencing just two weeks ago, this might be considered as a significant turnaround. The greatest unexpected improvement is seen in Solana (SOL), which is up 40% from the previous week. The cryptocurrency's value significantly dropped as a result of its connections to FTX and Alameda Research.

The first meme token from SOL, BONK, has also generated some buzz. Along with SOL's comeback, the value of the cryptocurrency BONK is steadily increasing. According to price monitoring service Coingabbar, the BONK Price currently sits at $0.000002174 and has increased by approximately 100% over the past 24 hours. Similar to Bitcoin, Ethereum Classic (ETC) has had a revival over the past 24 hours, rising 13%. Santiment Insights reports that ETC trade volume is currently strong. Additionally, enormous numbers of traders are shorting the cryptocurrency on exchanges.

In the meantime, the price of one bitcoin (BTC) is still circling about $17,000. BTC's price is currently $16,820, up 0.52% over the previous day.