Top 5 Altcoin Market Movers: KAS Recovers, SUI, BONK, XRP Surge

As we approach the end of the year, market conditions seem increasingly uncertain. Various indicators point to the possibility that the multi-year upward trend in risk assets may be slowing down. The Altcoin Season Index has fallen to 22, down from 78 on September 20, with last week's average clocking in at 31. This index measures the performance of the top 100 cryptocurrencies compared to Bitcoin over a 90-day period.

Key Takeaways

Kaspa (KAS): Bounced back by 19.03% after previously declining, driven by its transition to a smart contract-enabled Layer-1.
Sui (SUI): Gained 11.35%, benefiting from improved market conditions and a recent launch of futures on Coinbase.
Bonk (BONK): Experienced a rise of over 10%, fueled by the upcoming ETP launch on Switzerland's SIX Exchange.
Ripple (XRP): Increased by 8.22%, thanks to strong inflows into spot ETFs, particularly following a new listing on the NYSE.
Ethena (ENA): Rose by more than 6% after positive news regarding partnerships and significant fee generation.

Altcoin

Altcoin Performance

Nevertheless, the altcoin market experienced a fresh wave of volatility on November 25, 2025. Kaspa (KAS), Sui (SUI), Bonk (BONK), Ripple (XRP), and Ethena (ENA) all posted significant gains over a 24-hour period, outperforming major cryptocurrencies like Bitcoin and Ethereum.

Kaspa Bounces Back: Up 19.03%

Kaspa (KAS), which had fallen over 14% in the last 30 days, has rebounded remarkably, climbing 19.03% in the last 24 hours. This surge indicates a possible recovery trend.

One of the main drivers behind this rebound is Kaspa’s shift from a proof-of-work (PoW) coin to a smart contract-enabled Layer-1 through its Kasplex platform. This transition allows Ethereum developers to port decentralized applications (dApps) to Kaspa with little modification, enhancing its utility.

On a technical level, KAS surpassed the key resistance level of $0.047, supported by a significant increase in trading volume—up over 65% to $65.56 million—demonstrating strong buyer interest. The altcoin is currently trading at $0.0494.

A user on X noted that Kaspa's Layer-1 evolution is optimistic, stating, “Supply is nearly fully circulating, the narrative is evolving, and developer activity is on the rise.”

SUI Testing Major Support: What’s Next?

The Sui (SUI) altcoin has observed an impressive 11.35% increase in the past day, as speculation about potential Federal Reserve rate cuts invigorated altcoins amid a risk-on sentiment. SUI’s rally illustrates positive macroeconomic trends and increased liquidity on exchanges.

SUI's trading volume surged 66.38% to $1.07 billion, further affirming bullish sentiment. Additionally, the recent launch of SUI futures on Coinbase’s derivatives platform has equipped investors with regulated trading options, propelling the price upward.

Coinbase Derivatives plans to expand its 24/7 trading of listed altcoin futures, including SUI, during the first week of December.

BONK Enjoys ETP Launch Hype: Token Rises 10%

BONK, a memecoin themed around dogs on the Solana blockchain, surged over 10% in just 24 hours, despite a broader decline in the crypto market. The 24-hour trading volume for BONK jumped 110% to $195.7 million, indicating strong speculative interest.

The primary catalyst is the anticipated launch of BitCapital’s BONK ETP on Switzerland’s SIX Exchange on November 27, which will provide regulated exposure for investors in the EU.

Investors should keep an eye on ETP inflows post-launch and whether the buying momentum can be sustained.

XRP Climbs as Spot ETFs Attract Massive Inflows

Ripple’s XRP token rose by 8.22% in the past day, aligning with considerable inflows into spot ETFs. XRP spot ETFs have experienced seven consecutive days of inflows, driven by firms such as Canary, Bitwise, Grayscale, and Franklin, according to SoSoValue data. Notably, Canary's XRPC saw net assets of $306 million.

On November 24, XRP spot ETFs recorded net inflows of $164 million. Additionally, a new listing of XRP ETFs by Franklin Templeton on the NYSE starting Monday has further boosted its price. Analyst Chad Steingraber projects that if inflows reach $1 billion daily, over 2.2 billion XRP could be absorbed weekly, likely pushing prices higher.

Although XRP is down more than 14% compared to last month, it is trading at $2.23 at the time of writing.

ENA Grows 6%: Is the Altcoin Trend Bullish?

Ethena's ENA token has risen over 6% to $0.259 following a difficult November. Positive sentiment increased over the weekend due to the announcement of a new strategic partnership between Ethena Labs and the Hyperliquid ecosystem.

Furthermore, Ethena generated $151 million in fees for Q3, bringing total revenue to $599 million. Whale activity has also noticeably influenced the price, signaling potential bullish momentum.

“Key indicators to monitor in the coming weeks include Bitcoin's dominance, changes in altcoin trading volumes, and significant macroeconomic indicators like CPI releases,” remarked Gracy Chen, CEO at Bitget, to Cryptonews.