Recently, an increase in the value of old cryptocurrencies has been observed. XRP$XRP
, experienced a 431% increase on hopes of an SEC lawsuit. This situation directed investors' attention to classic altcoins and was considered the beginning of the altcoin season.
XRP, in particular, has seen a huge increase in the last four weeks. This increase is associated with expectations that the long-standing SEC case will end soon. XRP has gained significant momentum for the first time in seven years. Crypto commentator Ali made an assessment as follows: “Gary Gensler’s departure from the SEC could be the best development for XRP. Now XRP is targeting $2!”
Apart from XRP, there were also significant increases in older cryptocurrencies such as Stellar (XLM), Algorand (ALGO), Hedera (HBAR), and Cardano (ADA). These altcoins gained value due to increased brand awareness and new technological updates. For example, Hedera’s increased network activity attracted investors. Santiment noted that large transfers in rising altcoins could slow down the bull market. However, investors see this rise as the “beginning of the altcoin season.”
Another reason for the renewed investor interest is global developments. Factors such as Donald Trump’s election victory, technology updates, and wider platform acceptance have contributed to this interest. For example, Cardano’s Alonzo update attracted new investors by increasing network capacity.
However, profit taking by large investors could slow down the value gains. Analysts warn that large volumes in particular can lead to price fluctuations. However, since the altcoin season is still in its early stages, investors remain hopeful for more gains in the future.
As a result, this rise in old cryptocurrencies offers new opportunities to investors. However, being aware of the volatile nature of the markets and closely following technological developments and legal processes are important to make informed investment decisions.