Ripple, Cardano Lead Altcoins as Bitcoin Nears $100K
Bitcoin, the world’s largest cryptocurrency, is approaching the $100K mark for the first time, a historic achievement that reflects the strength of the crypto market.
However, eyes are also on altcoins such as Ripple (XRP) and Cardano (ADA) that have recorded strong gains in recent days.
According to data from Santiment, altcoins such as XRP, ADA, Stellar, and Hedera have seen notable increases of 52%, 41%, 83%, and 87%, respectively.
This trend has helped boost investment momentum, with XRP rising to $1.4 for the first time since May 2021, benefiting from optimism over its settlement with the SEC.
ADA also reached its highest level of $0.86 since April 2022, reflecting a revival in confidence in the Cardano project.
On the other hand, Ethereum (ETH) saw a recovery to $3,360 with increased trading activity and large deposits flowing into centralized exchanges.
This indicates a strategic reallocation of assets among investors, which increases the chances of the altcoin season continuing for a longer period.
Currently, the market seems to be witnessing a structural shift as many seek to diversify their investment portfolios, which paves the way for greater growth of altcoins in the coming period.
