Top 3 large cap altcoins make huge gains this week

Over the past 7 days, while flagship cryptocurrencies have either stagnated or slightly dipped, certain digital assets like Solana (SOL), Avalanche (AVAX), and FTT (FTX) have posted substantial gains.

During this bullish period, these assets—have seen their values surge by at least 40%. This performance data was detailed in a report by Santiment, a blockchain and cryptocurrency behavior analysis platform, on November 15.

Altcoins value gains in previous 7 days. Source: Santiment

The surge in the prices of these assets can likely be attributed to factors such as interest from institutional investors, a fear of missing out (FOMO), and favorable bullish market conditions.

Solana 7-day price chart. Source Finbold

SOL is currently trading above its 200-day moving average and had 19 green days in the previous month. These attributes have led to it outperforming 93% of the top 100 crypto assets in a year.

Avalanche gained 50% in value over 7 days

Currently changing hands at $19.61, AVAX enjoyed an increase of 17.13% over a day period, which has positively topped off gains made over a week that amounted to a remarkable 52.27% of its value, which shifted its price from $12.80 to $19.61.

Avalanche 7-day price chart. Source: Finbold

This asset has increased its value by 48% in the last year and evidenced 22 green days out of the previous 30. Coupled with the fact that it is currently trading above its 200-day moving average, its excellent performance becomes less of a mystery.

FTX token nearly tripled its value over the past week

Notably, one of the best last week performers is the FTX token, which managed to nearly triple its value by the time of writing, trading at $3.57, which is thanks to 11.90% and 187% gains made over the 24 hours and 7 days periods, respectively.

FTT 7-day price chart. Source: Finbold

Notably, after setting off from a value of $1.2, this asset broke the $5 mark on November 10 before sliding back to the current level of $3.57. This digital asset has experienced gains of over 107% in the previous year.

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