The altcoin market is experiencing renewed excitement as several tokens surge, driven by new developments and increasing interest from both retail and institutional investors. Santiment reported 3 altcoins that making waves in the market.
XRP, Aptos, LINK Leading as the Trending Tokens
Excitement surrounding Bitwise’s recent registration for an Exchange Traded Product (ETP) including XRP has put XRP in the spotlight. Trader interest has increased as a result of this action, especially in light of the growing discourse surrounding the U.S. SEC appeal over XRP’s designation as a non-security. This is a pivotal time for XRP since the SEC’s appeal has rekindled discussions about how Ripple operates and the legal ramifications for holders of the token.
At the time of writing, XRP is trading at $0.5247, reflecting a 1.50% rise in the past 24 hours. However, the 24-hour trading volume has dropped by more than 40%, while the total market capitalization sits at $29.68 billion.
Aptos is seeing a huge uptick, mostly because of two important factors. First, to improve its standing in the Japanese blockchain sector, Aptos Labs has successfully acquired HashPalette Inc.
Second, a sign of the growing institutional interest in the platform is the creation of the OnChain U.S. Government Money Fund by global investment firm Franklin Templeton on the Aptos blockchain.
These developments have propelled Aptos to trade at $8.73, marking a 6.28% increase in the last 24 hours. Its 24-hour trading volume has surged by over 60%, and its market capitalization has grown by more than 8%, reaching $4.39 billion.
Because it cooperated with SWIFT to advance blockchain interoperability, Chainlink has been gaining notice. The successful testing of Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which links various blockchain networks, has been the main focus of this collaboration.
The trials have increased Chainlink’s importance in the DeFi area by encouraging hope about its ability to help financial institutions communicate across chains.
Chainlink is currently priced at $10.98, with a 4% increase in the past 24 hours. While its trading volume has dipped by 24%, its market capitalization has grown by 3.79% to $6.88 billion.
The Road Ahead
As altcoins continue to rebound, these tokens are standing out with regulatory developments, institutional partnerships, and new use cases, signalling their growing influence in the cryptocurrency ecosystem.
On the other hand, due to its superior performance compared to the rest of the market, Bitcoin’s market share of the entire cryptocurrency market capitalisation, or Bitcoin Dominance, increased to over 58%, while the ETH-to-BTC ratio decreased to almost half of what it had been in mid-September.