Altcoin Rebound: KAS, SUI, BONK Lead Fragile Market Recovery
Cryptocurrency markets showed tentative signs of life on November 25 as Kaspa (KAS), Sui (SUI), and Bonk (BONK) led a selective rebound. The Altcoin Season Index's precipitous drop from 78 to 22 since September underscores growing fragility among smaller digital assets.
Kaspa's 19% surge—reclaiming its $0.047 resistance level—comes amid its transition to a smart contract-enabled Layer-1 via Kasplex. Trading volume spiked 65% to $65.56 million, suggesting speculative interest in its ethereum compatibility claims.
Meanwhile, XRP and Ethena (ENA) joined the advance, though broader indicators remain concerning. 'The multi-year risk asset cycle looks exhausted,' noted one trader, pointing to dwindling momentum across altcoin markets.