Two leading altcoins, XRP ($XRP) and Cardano ($ADA) are both surging this week despite only moderate advances by market leaders Bitcoin ($BTC) and Ethereum ($ETH).
In the last seven days, Ripple’s payments focused XRP blew up 78.5% to trade at $2.56. This brings it about 25% short of surpassing its former all-time high (ATH) of $3.40, posted on January 07, 2018.
At its current price, XRP is the highest it has been since the token began trading on Binance back in May 2018, and it could easily set a new high watermark over the Christmas period.
Source: TradingViewCardano had a similar trajectory this year, although it’s much further from setting a new all-time high. $ADA blew up 21% over the week and now trades for $1.20, which is 61.2% lower than its highest price of $3.09, set on September 02, 2021, at the height of Bitcoin’s last sustained bull run.
Source: TradingViewXRP and Cardano: Are They About to Bull Run?
Analysts are wondering whether we’re currently looking at the start of another bull run.
Historically, Bitcoin and the wider market have entered bull runs shortly after the implementation of a quadrennial Bitcoin software update called the “halving”.
The halving slashes mining rewards in half, which bottlenecks the rate at which new $BTC hits the market, since miners are the ones who issue new coins.
Back in April there was a new halving, and now as 2024 draws to a close, crypto prices appear to be rising.
This sequence parallels the last post-halving bull run, when prices began surging around Christmas 2020, months after the execution of the May 2020 halving.
Where Bitcoin goes, the rest of the market follows. As two leading altcoins, XRP and Cardano are in prime position for some sweltering rallies should a new crypto gold rush ensue.
Crypto Investors Snap Up Best Wallet as Altcoin Christmas Begins
Tis the season for alternative Web3 investments, and over in the presales market, one of the most promising and most popular presale coins available on sale is Best Wallet Token ($BEST), the native ERC-20 cryptocurrency of the titular popular software wallet.
The ICO launched at the end of last month and has already raised $2.2 million.
$BEST’s quick rise to $2.2 million is a clear sign of its potential success, as the coin becomes an integral part of the Best Wallet software.
Token holders get various perks, including discounts on transaction fees, higher staking rewards, protocol voting rights, as well as early access to new projects, presales and airdrops.
This gives BEST strong fundamentals, with demand for the token likely to hit the roof over the festive season.
Given Best Wallet’s plethora of features, $BEST could blow up when it lists on exchanges next year.
Investors can join its sale by heading over the official Best Wallet Token website, where the coin is selling at $0.022925.
The sale has 100 stages in total, which means it will substantially appreciate in price even before it hits the open market.
That’s why many investors are beating their FOMO by stockpiling $BEST.
Check Out BestWallet PresaleThe post Why Are XRP and Cardano Going Up? This Low Cap Utility Token Blasts Past $2M In ICO appeared first on Cryptonews.
