The crypto market continues to show an impressive upward trend, with several projects once again excelling with notable price increases. This week, Stellar (XLM), Hedera (HBAR), Algorand (ALGO) and Ripple (XRP) in particular caught the attention of investors with extraordinary performances. Here’s an overview of their remarkable growth and what’s behind it.
Stellar (XLM)
Stellar is a blockchain network designed to enable fast and cheap cross-border transactions. The project aims to promote financial inclusion by providing banks, payment providers and digital wallets with an efficient way to exchange fiat money and digital currencies. The network is particularly popular because of its low costs and high speed, which makes it attractive for both private individuals and companies.
This week, Stellar has seen spectacular growth, with the stock up 183% in the last seven days and an additional 51% in the last 24 hours. This explosive increase is partly attributed to an improving regulatory environment in the United States, which is creating optimism in the crypto market. This sentiment is related to the possible re-election of Donald Trump, who has indicated that he wants to take a more crypto-friendly course.
Interesting is the link with Ripple (XRP), another major player in cross-border payments, which has also shown a strong increase this week. Both projects benefit from the expectation that under a new administration the legal battle with the SEC will become less intense, opening the door for more adoption and cooperation within the financial sector.
Hedera (HBAR)
Hedera (HBAR) has once again proven itself this week as one of the notable risers in the crypto market. The project stands out for its unique Hashgraph consensus mechanism, an innovative technology that is faster and more efficient than traditional blockchains. With extremely low costs and high speed, the network is increasingly being used for various applications, including supply chain tracking, digital identity verification and decentralized finance (DeFi).
Over the past week, Hedera has posted an impressive 88% share price gain, with an additional 10% growth in the past 24 hours. This achievement is attributed to new strategic partnerships and a rapidly growing ecosystem of applications that leverage Hedera’s technology.
Algorand (SOMETHING)
Algorand is a sustainable blockchain known for its speed, low transaction costs and focus on scalability. The project has also profiled itself as a green technology, which makes it attractive for companies and institutions that value sustainability.
Algorand’s share price rose 60% this week, with a significant jump of 33% in the last 24 hours. This increase is attributed to recent network upgrades that offer better performance and lower costs, along with increasing interest from the institutional sector.
Ripple (XRP)
Ripple is designed to make cross-border payments faster and cheaper by using XRP as a bridge currency. The network mainly focuses on cooperation with banks and financial institutions.
The price of XRP is up 58% this week, with an additional 10% growth in the past 24 hours. Investors are optimistic due to legal developments in the US, including the possible replacement of SEC Chairman Gary Gensler. These prospects strengthen confidence in Ripple’s future and role in the financial sector.
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Source: https://newsbit.nl/4-cryptos-vliegen-omhoog-en-bitvavo-geeft-alle-nederlanders-e25-cadeau/
