TL;DR
- XRP surges over 115% in a single week, reaching $0.63 and reclaiming the third spot by market cap
- Legacy altcoins from 2017’s bull run — Stellar, Dash, Verge, Status — post double-digit daily gains
- Mike Novogratz suggests the altcoin squeeze may be ending, favors DeFi over “ghost chains”
- Ethereum transaction fees begin rising again, hinting at a potential second wave of DeFi activity
- Bitcoin holds near $18,700 as capital rotates between BTC and altcoins ahead of the $20K breakout
The cryptocurrency market is witnessing a dramatic shift in momentum as altcoins from the 2017 bull run era stage a powerful comeback. While Bitcoin maintains its position near $18,732, capital is flowing aggressively into legacy tokens that had been largely left for dead during the DeFi-dominated summer months. The sheer magnitude of the altcoin rally is turning heads across the industry.
XRP Leads the Charge With 116% Weekly Gain
XRP has emerged as the undisputed leader of this altcoin resurgence, posting a staggering 116% gain over the past seven days. The token reached $0.6355 on November 25, firmly establishing itself as the third-largest cryptocurrency by market capitalization at $28.8 billion. The rally is particularly notable given XRP’s prolonged underperformance throughout 2018 and 2019, when it struggled to keep pace with both Bitcoin and newer DeFi tokens.
The weekly performance is even more impressive when viewed in context. XRP’s 24-hour trading volume exceeded $23.5 billion, dwarfing most other altcoins and signaling genuine institutional and retail interest rather than a low-liquidity pump. After rallying past $0.60 and briefly touching $0.70 earlier in the week, XRP entered a consolidation phase above key support levels, with analysts eyeing a potential push toward $0.75.
Stellar, Dash, and Vintage Altcoins Join the Party
XRP is far from alone in this rally. Stellar Lumens (XLM) posted an even more remarkable 133% weekly gain, reaching $0.195 with $3.4 billion in daily volume. Dash, Verge, Status, and Ravencoin have all surged by double-digit percentages over the past 24 hours, with many of these tokens gaining dozens of percent in a single day while Bitcoin advanced a comparatively modest 5%.
Bitcoin Cash (BCH) reached $312.78, gaining nearly 27% on the week, while Litecoin (LTC) advanced 11% to trade at $81.88. Cardano’s ADA posted a 46% weekly gain at $0.155, and even Polkadot’s DOT joined the party with a 13.5% weekly advance to $5.31. The pattern is unmistakable: traders are rotating profits from Bitcoin’s rally into altcoins that remain far below their all-time highs, chasing outsized returns.
From DeFi to Legacy: A Market Rotation in Real Time
What makes this rally particularly fascinating is the shift away from DeFi tokens toward older, more established cryptocurrencies. Just weeks ago, the narrative centered on yield farming protocols, governance tokens like YFI and AAVE, and the broader DeFi ecosystem. Now, the market has pivoted sharply toward tokens that dominated the 2017 landscape.
Mike Novogratz, CEO of Galaxy Digital and a former Goldman Sachs partner, captured the sentiment in a late-night trading session. “I’ve been up since 2am trading crypto. Haven’t touched BTC. I’m HODLing there. Can’t tell if the alt squeeze is over but feels like it might be,” Novogratz wrote on November 24. He added that he favors “DeFi more than ghost chains” and predicted the top 10 coins by market cap would look “50 percent different in 18 months.”
Ethereum Gas Fees Signal Possible DeFi Season Return
While legacy altcoins dominate the headlines, Ethereum is showing signs of renewed DeFi activity beneath the surface. Transaction fees on the Ethereum network have begun climbing again after a months-long downtrend that coincided with the cooling of the summer DeFi boom. Ethereum is up over 350% year-to-date, recently correcting from the $620 zone to trade near $570.
Analysts suggest the rising gas fees could indicate one of two things: either a new wave of DeFi activity is building, or users are positioning themselves ahead of the ETH 2.0 launch. Chainlink (LINK) continues to hold strong at $14.26 with a $5.6 billion market cap, and the broader DeFi infrastructure remains intact despite the current rotation toward legacy tokens.
Why This Matters
The current market dynamic represents a critical inflection point for the cryptocurrency space. The simultaneous rally in Bitcoin toward its all-time high and the explosive gains in altcoins creates a feedback loop that could accelerate adoption across the board. However, as Bitcoin approaches $20,000, history suggests it may eventually suck all the air out of the room, drawing capital back from altcoins as traders position for what many believe will be an unprecedented breakout.
For investors, the key question is timing: rotate profits from altcoins into Bitcoin before the ATH break, or ride the altcoin wave while it lasts. With total crypto market capitalization approaching $560 billion and institutional interest growing by the day, the stakes have never been higher. The decisions made in these final days before Bitcoin’s new all-time high could define portfolio performance for months to come.
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk. Always conduct your own research before making investment decisions.
Dash and Verge doing 100% gains at $18.7K BTC was the loudest top signal of that cycle. Novogratz called it right and got mocked for it
xrp pumping 116% in a week and novogratz calling them ghost chains in the same article. beautiful cognitive dissonance
novogratz was right though. those pumps were exit liquidity for bags that never recovered. where is verge now
cycle_watcher_ verge is still somehow alive with a 9 figure market cap. the zombie coin phenomenon is eternal
btc at $18,700 and people were rotating into verge. literally the same meme coins just a different cycle
stellar surging 133% and dash doing double digits. every cycle the 2017 relics get one last pump before fading back into obscurity
status posting double digit gains at $18k btc. that token literally does nothing and still pumped on pure rotation. 2017 market was unhinged
Novogratz calling them ghost chains while they were up 100% on the week and then being proven right within months. peak wall street timing
xrp at $0.63 felt like a moonshot then. now its doing the same pump and dump pattern at $2+. some things never change
The altcoin surge in 2017 was something else. XRP at $0.63 and Stellar surging 133% – pure rotation momentum when Bitcoin was near $18,700.
ghost_chain_ calling out the cognitive dissonance is perfect. XRP pumping 116% and Novogratz calling them ghost chains in the same week – peak market behavior.
2017bagholder nailed it – every cycle the 2017 relics get one last pump before fading back into obscurity. Same pattern, different year.
XRP 116% in a week at 18K BTC. that was the rotation signal. when garbage pumps its usually the top of the cycle
dash_ripper_ XRP at 116% weekly while BTC was still under 20K was the loudest top signal of the cycle. same pattern in 2021 with DOGE
dash_ripper_ 116% in a week on XRP at $18K BTC was the ultimate blowoff signal. same thing happened in 2021 with DOGE
XRP at $0.63 in 2020 vs XRP at $2+ now doing the same pump pattern. dash_ripper_ was right, when garbage pumps its the cycle top signal
Dash and Verge pumping 100%+ on zero news while BTC was at 18.7k was the clearest blowoff top signal of that entire cycle
novogratz calling them ghost chains while they pumped 100%+ is peak wall street cope. he missed the trade and dressed it up as analysis
Pavel R. novogratz calling them ghost chains while they did 100% gains is why wall street types always miss crypto rotations. right fundamentals wrong timing
status token doing double digit gains while literally shipping nothing. 2017 was pure mania and anyone who says otherwise was not there
Stellar and Dash doing 100%+ daily while literally shipping nothing. the 2017 ICO casino never died, it just changed tickers
nostalgia_tax_ same thing happened in 2024 with XRP pumping 300% on a legal ruling while shipping nothing. the zombie coin rotation is an eternal cycle
nostalgia_tax_ stellar and dash on 100% daily gains while shipping nothing. literally every cycle the same rotation into zombie coins right before the top
Novogratz calling ghost chains while they pumped 100% is classic wall street. he was right about the tech and wrong about the trade. happens to everyone
wrecked_nomad_ novogratz was right though. dash and stellar did 100% gains and then bled 95% for the next 4 years. the trade worked but the tech never came