Crypto markets are heating up again, but it’s not Bitcoin stealing the spotlight this time. While BTC is trading above the $120K mark with 28% gains, several altcoins are giving a bull vibe.
While the majority of altcoins were in green, these top 3 stole the show: Pudgy Penguins (PENGU) led the charge with a 26–27% jump, trading near $0.03, followed closely by Hedera (HBAR) with a 24–25% gain at around $0.25. Stellar (XLM) also saw a sharp rise of 23–25%, reaching approximately $0.49.
PENGU has been the surprise performer of the week, rallying nearly 85% in seven days and over 25% just today. The price hit around $0.0295, with daily trading volume topping $1.8 billion. This memecoin, backed by the NFT brand Pudgy Penguins, is benefiting from tailwinds generated by its upcoming Layer-2 chain and a flurry of ecosystem expansion, including merchandise, toys, and chatter about an ETF. Analysts are calling it “retail-fueled with long-term vision,” noting that viral community marketing and metaverse integrations could further propel it.
HBAR is also making a significant impact on the charts, with a 27% surge, now trading at $0.253. Its rise mirrors the same pattern seen in 2021, according to analyst Rekt Capital, who believes this could be a longer-term breakout phase. On-chain metrics are bullish: Hedera has experienced a surge in smart contract deployments and an increase in enterprise interest. Trading volume exceeded $184 million, with strong support from South Korean exchanges.
XLM is up over 22% in the last 24 hours, trading near $0.50 with a staggering $460 million volume just on Korean exchanges alone. The pump is being attributed to the buzz around Stellar Core’s v23.0.0rc2 upgrade. Interestingly, following the current sentiment around crypto week, the upgrade is drawing institutional interest, signaling renewed faith in Stellar’s infrastructure for stablecoins and payments. On-chain data shows a notable spike in wallet activity and exchange inflows, hinting at a strong wave of accumulation.
On the other side, South Korean exchanges are showing record trading volumes for XLM ($460M), PENGU ($355M), and HBAR ($184M) in the last 24 hours. HBAR’s on-chain metrics also indicate rising developer activity and demand, reinforcing its breakout case.
Rekt Capital highlighted that a small dip in Bitcoin dominance has already unlocked serious capital rotation into mid-cap alts. If BTC stalls further, altcoins could continue to run. Market watchers believe PENGU may lead memecoins, XLM might gain more adoption through fintech rails, and HBAR could attract enterprises looking for scalable, eco-friendly blockchain infrastructure.
The crypto market is rising due to Bitcoin’s $120K rally, capital rotation into altcoins, and growing retail and institutional demand.
Altcoins like PENGU, HBAR, and XLM are outperforming Bitcoin, showing strong gains and record trading volumes.
Many analysts believe altcoins have room to run as Bitcoin stabilizes, but always assess risk before investing.
Analysts predict Bitcoin could test $125K–$130K this month if bullish momentum continues and macro conditions stay favorable.
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