In the past 24 hours, Bitcoin (BTC-USD) has increased by more than 5% and the market is rallying. Following a string of successful weeks, Bitcoin hit a two-year high on Monday, breaking beyond $68,000 as a cash surge nearly took it to all-time highs. Early in the Asian day, it hit $64,285 — its highest level since late 2021 — and ended the session above $68,000.
Following BTC, tokens with smaller capitalization showed multiple growths, which may signal the beginning of the altcoin season. A two- to three-digit weekly increase in the prices of meme coins like DOGE, SHIB, BONK, PEPE and WIF is an early sign of the altcoin season. PEPE trading volumes jumped to an all-time high of $3.6 billion as the current market environment fueled excessive demand for riskier assets such as altcoins and memcoins.
Early listed tokens experience a three-digit growth
Amidst the altcoin boom, some new tokens experience up to 40x growth after the listing on exchanges. Traders are increasingly hunting for early listing opportunities to benefit as much as possible. Holding a newly airdropped crypto token for longer than 14 days has, almost half the time, resulted in missing the chance to sell at its peak, according to recent data from CoinGecko.
Only one airdropped token out of the top 50 in the last four years took longer than a year to reach its peak price, whilst some projects achieved their highest gains in a couple of days.
One of the recent examples of this sudden surge is a 17-year-old crypto investor, who was reported by Cointelegraph to have made over $1 million from the Solana-based Jupiter $JUP airdrop.
Additionally, CoinGecko revealed that nearly half of the top 50 cryptocurrency airdrops since 2020 saw their tokens achieve all-time high prices within two weeks of going public in February.
Crypto exchange Bitget released the latest data on 25 early token dynamics. $JUP has gained 500% since listing on the exchange being one of the recently listed coins that has experienced a rapid surge in the last 14 days. $GPT has grown 4,430.00% on Bitget in nearly one week since listing on February 28. The coin is built on cutting-edge blockchain and AI technology that boasts faster data processing, greater adaptability to market changes, and enhanced network functions.
$PIXEL, an in-game currency in PixelVerse, a metaverse with Web3 games, designed to provide a Disneyland-like experience, has surged 5,500.00% since listing on Bitget on February 19. Another one — $ALT, the native cryptocurrency of the Altlayer blockchain gained $4,600.00% since listing on January 25.
Two Ethereum protocol tokens — $FIRE and $ZETA — have seen a 1,920.00% and 1521.43% spike in prices since listing in February.
Overall, Bitget has a history of spotting early gems — their early listing of $ORDI last year happened 7 months before it had appeared on Binance is just one example.
ORDI started its journey in May 2023, when its trading price was $25.3466. After that, there was a decline in the coin’s value, with its lowest point being $2.86 in September 2023. Notwithstanding these swings, ORDI’s appeal grew, and by the end of 2023, its cost had surpassed $50.
Recently it has seen a significant increase in value, reaching $87.27.