The cryptocurrency market capitalization reached an all-time high of $3.44 trillion on Friday, November 22, driven by Bitcoin's dominance and a strong <a href="https://www.cryptoknowmics.com/news/bitcoin-hits-new-ath-as-altcoins-surge-in-crypto-market-rally/" target="_blank" rel="noopener">altcoin</a> rally. Bitcoin (BTC) surged past $99,000, maintaining over 60% market dominance. However, the spotlight also turned to altcoins, many of which posted impressive double-digit gains.
<h2>Solana Shines Amid ETF Hopes</h2>
[embed]https://twitter.com/APompliano/status/1859799961950617623[/embed]

Solana (SOL) led the charge, climbing to an all-time high of $263 after gaining 11% in a single day and 160% year-to-date. This surge was fueled by announcements of multiple applications for spot SOL ETFs from Bitwise, VanEck, and 21Shares, coupled with the anticipated departure of SEC Chair Gary Gensler in January, which boosted market optimism.
<h3>XRP, Cardano, and Stellar Among Top Gainers</h3>
Ripple's XRP spiked 25% to hit a three-year high of $1.42 during Asian trading hours. The momentum came from optimism surrounding Ripple's ongoing legal battle with the SEC. Similarly, Stellar (XLM) mirrored XRP’s move, rising 18% to $0.288. Cardano (ADA) also gained traction, climbing 12% to $0.893, its highest since April 2022.

Cronos (CRO) joined the rally, achieving a 14% daily gain to hit $0.20.
<h2>Ethereum Still Lags</h2>
[embed]https://twitter.com/AltcoinSherpa/status/1859812250556698663[/embed]

While Ethereum (ETH) saw an 8% gain, it failed to break past $3,418, falling short of its 2024 high of $4,070 in March. Analysts noted Ethereum’s tendency to lag in previous cycles, suggesting that its rally might still be on the horizon.
<h2>What’s Next?</h2>
The altcoin rally underscores shifting sentiment as regulatory changes and institutional interest continue to shape the crypto market. However, Bitcoin’s dominance raises questions about whether this altseason will be as pronounced as previous cycles.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Altcoins Rally Amid Gary Gensler's SEC Exit, Market Hits $3.44T

Crypto market reaches $3.44T as Bitcoin tops $99K and altcoins like Solana, XRP, and Cardano see double-digit gains amid SEC leadership changes.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

Altcoins Rally Amid Gary Gensler's SEC Exit, Market Hits $3.44T

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