Christmas Gains: MOVE, BGB, and ZEC Lead Altcoins in Price Surge

Cryptocurrencies experienced impressive price rallies on December 25, with Movement (MOVE), Bitget Token (BGB), and Zcash (ZEC) leading the charge among altcoins. The festive surge brought significant gains as Bitcoin (BTC) reclaimed some of its recent gains, pushing its price back above $98,000 after dipping to $92,000 on December 23. This upward momentum spilled over to the altcoin market, with some coins seeing remarkable gains of more than 30%.

Movement (MOVE) led the charge with a remarkable 31% spike, followed by Bitget Token (BGB) with an 18% rise and Zcash (ZEC) with a 9% increase. These altcoins stood out among the top 100 cryptocurrencies by market capitalization, contributing to an overall market cap that remained above $3.5 trillion despite a slight 2% dip in the past 24 hours. Trading volumes across the crypto market remained robust, with daily volumes hitting $156 billion, and Bitcoin’s dominance standing at 54.5%.

The surge in altcoin prices follows a positive market sentiment, with analysts suggesting that we may see more capital rotation into altcoins in the coming weeks. As Bitcoin remains range-bound below $100k, altcoins might seize the spotlight, especially if Bitcoin’s dominance drops below 58%, signaling a shift in investor focus.

Other notable performers on the day included Fartcoin, Raydium (a Solana-based protocol), and Virtuals Protocol, which also saw significant price gains. On the flip side, Hyperliquid, Stellar, and Celestia experienced losses during the same period.

As market analysts like Michael Saylor of MicroStrategy express optimism, the outlook for altcoins appears promising, with the possibility of new capital flows driving further growth. The overall market sentiment remains bullish, fueled by increasing risk appetite among investors, particularly as we approach the end of the quarter.