Following recent major liquidations, the altcoin market is finally showing signs of recovery. According to CoinMarketCap data, leading cryptocurrencies like ETH, DOGE, ADA, and XRP have caught attention due to their strong gains. Investors and institutional actors are painting a more optimistic picture, with trading volumes also experiencing significant increases.
Dogecoin’s ETF Anticipation and Reward Reduction Debate
Ethereum rose by 2.29% over the last 24 hours, reaching $3,889. The trading volume exceeded $31 billion, marking a recovery from last week’s 15% drop. Ethereum’s yearly gain stands at 60.8%. Key factors supporting this rise include expectations around the Fusaka update and institutional interest in staking-backed ETH ETFs. However, some analysts caution that Ethereum’s supply program and decentralization debates might impact mid-term stability.
Meanwhile, Dogecoin surged by 11.25% to $0.2105 in the past 24 hours, rekindling investor interest. The return of retail investors and expectations of a Dogecoin ETF have laid the groundwork for its rapid price increase.
Another hot topic in the community is the proposal to reduce the block reward from 10,000 DOGE to 1,000 DOGE. This development is positively received for its potential to reduce inflation in the long run, but some miners argue that decreasing rewards could negatively affect participation. Additionally, whale purchases and increased trading volume indicate that institutional investors are reestablishing their positions.
Cardano and XRP Gain Momentum
Cardano (ADA) rose by 3.08% to $0.63. A $71 million treasury fund approved by the community played a significant role in this recovery. The fund will finance large-scale scaling projects such as Ouroboros Leios, Hydra, and the Midnight sidechain. These developments are expected to provide long-term strength to Cardano’s ecosystem.
In contrast, XRP saw a 4.82% increase, reaching $2.36, nearing a 350% annual gain. This robust performance is supported by expectations of potential XRP ETF applications and a climate of confidence following Ripple ‘s settlement with the SEC earlier this year.
The recent uptick following the liquidation storm indicates renewed confidence in the crypto market. Projects like Ethereum and Cardano are bolstered by technological innovations, while ETF expectations for Dogecoin and XRP drive prices upward. However, market experts emphasize that macroeconomic stability and clarity in regulations are needed for the rally to be sustainable.
The post Crypto Surge Revives Investor Optimism appeared first on COINTURK NEWS.
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