Arthur Hayes, former CEO of BitMEX, recently took to Twitter to declare the beginning of another altcoin season. "Allow me to reintroduce myself. My name is ALTSZN!!!" he tweeted.
This came after Ethereum (ETH) experienced a surge in price. The top altcoin peaked at $2,130 on the Bitstamp exchange earlier today.
As reported by U.Today, the Bitcoin (BTC) competitor surpasses $2,000, driven by the successful Shapella upgrade and an unexpected drop in PPI inflation.
The altcoin market saw significant gains over the past 24 hours, with ETH up by 9.4%, Binance's BNB increasing by 4.4%, Cardano (ADA) rising by 9.2% and Dogecoin (DOGE) adding 9.%.
Tomiwabold OlajideIt conveys Hayes' optimism about the cryptocurrency market's positive momentum, particularly for altcoins, amid an ongoing shift to bullish market conditions.
The day before, Hayes tweeted a question regarding the Bitcoin market: "Any theories as to why after an almost 100% pump in $BTC post FTX, perp funding is still negative? What cohort in the market is supplying the marginal sell pressure?" The tweet sparked discussions among crypto enthusiasts trying to decipher the market dynamics behind recent price movements.
Arman Shirinyan
Dan Burgin
U.Today Editorial Team
Vladislav Sopov