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Altcoins Heat Up With AVAX and HNT Leading the Way
Money is flowing into more speculative names following bitcoin's big run higher.
Updated Mar 8, 2024, 6:20 p.m. Published Dec 6, 2023, 5:25 p.m.
Following its roughly 15% move ahead over the past 72 hours, bitcoin is little changed Wednesday at $44,000. The speculative juices are flowing though, with a number of altcoins moving sharply higher.
Among the leaders is Avalanche’s AVAX token, whose 17% gain on Wednesday makes it the leader among those cryptocurrencies with a market value above $1 billion. This comes following the token's near-doubling in price in November.
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Another big mover is Helium, the crypto connectivity project that migrated from its own blockchain to layer-1 Solana last year. It's higher by 42% on the day after the company announced it launched a mobile phone plan in the U.S. with unlimited data, texts and calls for $20 a month.
Memecoins are moving too, led by dogecoin [DOGE], which is ahead 11% over the past 24 hours to rise past $0.10 for the first time since April.
Read more: Solana Hype Bumps BONK to Third-Largest Dog Token, Behind DOGE, SHIB
“The [bitcoin] rally has been quite extraordinary even by bitcoin's standards and highlights how excited the community is by the prospect of an ETF approval,” said Craig Erlam, a senior analyst at OANDA. Erlam said that lower interest rate expectations have also helped the cryptocurrency’s rise but he thinks the ETF hype is the primary driver.
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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LUNC Surges Over 160% in a Week as Do Kwon Sentencing and Token Burns Draw Traders
The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns.
What to know:
- Terra Classic (LUNC) surged 74% to $0.0000072, up 160% in the past week, on exploding trading volume, ahead of Terraform Labs founder Do Kwon's sentencing on Dec. 11.
- The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns, with 849 million LUNC destroyed in the past week.
- The token's momentum is also fueled by Binance's pause on LUNC withdrawals ahead of the Terra Chain's v2.18 upgrade, which aims to improve network stability, despite the token remaining volatile.
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