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Altcoin Season Close as Ethereum Surges 30% in a Week: Top Altcoins to Buy
As the crypto market continues its upward trajectory, Ethereum’s spectacular surge of over 30% in the last week has led many analysts predicting that an altcoin season is imminent. It is now or never for investors seeking explosive gains with the likes of Snorter Token ($SNORT) and Best Token ($BEST).
In a matter of days, Ethereum ($ETH) is nearly back at its all-time high of $4,868.80 recorded in November 2021. The cryptocurrency’s current price range between $4,700-$4,800 highlights the growing sentiment among investors that we are on the cusp of an altcoin season.
The recent influx of inflows into Ethereum ETFs has been nothing short of staggering, with a staggering $2.3 billion in US inflows over the past three days. This is more than 500,000 ETH was issued since September 2022’s Merge event. Additionally, treasury firms have accumulated approximately 2.3 million ETH (1.9% of total supply) since June and could eventually hold up to 10%.
Source: bitcoinist.com
