Bitcoin (BTC) continues to experience drop after drop. At this point, it has fallen below $82,000 during the day.
While the decline in Bitcoin is also reflected in altcoins, losses in major altcoins like Ethereum continue to increase.
However, there are some altcoins that have attracted attention with their rise amidst the increasing bear market discourse.
Tensor (TNSR) Leads the Pack
One of these altcoins was Tensor (TNSR), a non-fungible token (NFT) marketplace based on Solana (SOL).
TNSR, which has been on an unstoppable rise for the last three days, recorded an increase of over 100% in the last 24 hours and became the top-performing altcoin.
Historical Performance and Recent Surge
Launched in April 2024, Tensor has been performing mixed since then. This year, TNSR has been mostly downward, reaching an all-time low on October 11th amid the market crash caused by Trump's tariffs. However, the trend reversed this week, with TNSR's sudden surge.
TNSR has surged over 700% in the last three days since November 19, jumping from levels of $0.04 to $0.31.
Potential Drivers of the Surge
While TNSR hasn't made any major announcements recently that could explain the sudden price increase, it remains to be seen what caused this increase.
On-chain data suggests strategic accumulation ahead of the surge. Large whale purchases are being cited as one of the drivers behind Tensor's surge, with analysts pointing to a new wallet steadily purchasing TNSR.
Current Market Status
According to CoinMarketCap data, TNSR is trading at $0.28, up 112% in the last 24 hours compared to the previous day.
