It's temporary highs I remember buying it when the price was around $30 but it won't hold for long, I think it will be the hype that happened with Polkadot and Uniswap when the price went crazy in the first period and held high market cap and then it was over quickly.
I would be surprised if I keep the same price when Bitcoin reaches its ATH.
Thats the disadvantage the altcoin market has, no matter how potential the project is they always experience high manipulation after reach a new ATH price but I believe the ETH transaction fee is the major problem Uniswap had and I can't remember the last time I use their service ever since PancakeSwap, etc offer small and fast transaction service through BSC.
Having said that AVAX and MATIC seem to be trending in the altcoin market lately.
Avalanche is approaching the ATH price the chart is also good, Maybe AVAX will soon follow Solana to create a new ATH price.
Polygon is also good, its users are increasing and getting more and more popular, But Polygon is still half way to ATH price.
If more people continue to trust this network after the latest hack then they are very fools.
You're right and that's what I believe either. I think the dev need to step up their game, make a public announcement about it and host an airdrop which is something altcoin enthusiasts like.