Stellar, Dogecoin, Cardano shine as crypto market valuation reaches $3.5 trillion

Global Cryptocurrency Market Surges

The global cryptocurrency market has experienced a remarkable 11.5% increase this week, reaching a record high of $3.49 trillion and adding $358 billion in valuation.

Bitcoin's Rise and Altcoin Boom

Bitcoin (BTC) has surged over 8% during this period, as investors attempt to breach the psychological resistance level of $100,000. This enthusiasm has extended to the broader altcoin market, with several notable performers.

Stellar's Meteoric Rally

Stellar (XLM) has witnessed a stunning 190% surge over the past seven days, reaching an 40-month high of $0.4436. This surge is attributed to increased demand and makes XLM the best-performing asset among the top 100 cryptocurrencies, as per data from CoinGecko.

The altcoin has rallied nearly 430% since its lowest point in July.

Dogecoin's Continued Rise

Dogecoin (DOGE) has extended its rally by another 27% this week, reaching a new yearly peak of $0.48 on November 23rd. Over the past month, the meme coin has experienced an impressive 239% gain and currently ranks as the fourth most traded cryptocurrency, with 24-hour trading volumes reaching $26 billion.

Analysts predict even higher targets for DOGE in 2025, with independent analyst Javon Marks suggesting a potential 52.2% upside.

Cardano Reclaims $1

Cardano (ADA) has made a significant recovery, surpassing the $1 price level for the first time since April 2022. It has climbed 43.7% over the past week, trading at $1.08 at the time of writing. Whale accumulation and an increase in open interest have contributed to this rally.