These are the top 3 altcoins of the past weeks

We have had another turbulent week on the crypto market. Due to the success of the Bitcoin (BTC) price in November, many altcoins are also experiencing strong price increases. While the BTC price is experiencing a small correction, other coins are achieving exceptional returns. Today we take a look at the 3 best performing altcoins of the last week.

HBAR rises sharply thanks to new partnership

Hedera (HBAR) is the biggest gainer of the past week. The coin gained an impressive 83.5% at the time of writing, reaching a current price of $0.28, securing HBAR the 17th spot on the list of largest cryptocurrencies with a market cap of $10.6 billion.
One of the reasons for the positive sentiment is the partnerships that the project has concluded in recent days. For example, the blockchain platform announced a new collaboration with NoviqTech, which has acquired over 490,000 HBAR tokens for an amount of $150,000.

XRP dethrones Solana

The second strongest altcoin of the week is XRP. The coin experienced an explosive rally in the last 24 hours alone. The price rose by 11.21% and reached a current level of $2.71. This pushed XRP to the third place of the largest cryptocurrencies, with a market capitalization of an impressive $154 billion. Solana was thus pushed off the podium.
XRP is benefiting from optimistic expectations that Donald Trump will pursue pro-crypto policies. The current chairman of the Securities and Exchange Commission (SEC), Gary Gensler, is expected to resign and be replaced by a crypto-friendly figure.

Algorand price explodes by 81%

The third biggest gainer of the last seven days is Algorand (ALGO). The altcoin rose by almost 81% in a week. At the time of writing, the price is $0.493. The network is a layer-1 protocol that places great emphasis on energy efficiency and security. It promises to be quantum-proof.
The price increase could be due to the year-long phase of limited price movements. For months, the altcoin traded in a range of $0.10 – $0.13. With the success of BTC in recent weeks, the momentum around ALGO also increased. The altcoin was able to realize a so-called “bullish golden cross” pattern on the ALGO/USD chart.

This pattern occurs when the short-term average rises above the long-term average. Currently, the Algorand price is experiencing a small correction, which is not unusual after the parabolic rise of the past few weeks.