Altcoins Dominate as TRUMP, POL, and ZEC Soar Past Bitcoin
The past week saw a surge in various altcoins, outperforming Bitcoin (BTC) and Ethereum (ETH) in terms of daily gains. At the forefront was Trump's token, TRUMP, which jumped nearly 94% over the week, briefly reaching a 100% gain before descending back to around $2.55.
Polygon's token, POL, also saw significant growth, rising nearly 50% to $0.11 from $0.075 and breaking above its prior resistance of $0.09. The token traded largely sideways near $0.08 for several days before momentum picked up.
Zcash's price (ZEC) gained around 30%, briefly reaching around 35%. This growth is attributed to the growing optimism around Grayscale's proposed ZCash ETF, with potential interest from DCG International Investments in buying exposure to roughly 200,000 ZEC worth approximately $158.2 million.
The tokens' rallies were accompanied by a surge in retail sentiment and chatter on platforms such as Stocktwits, with TRUMP leading the pack as the top trending ticker.