2023-10-4 17:00 |
Amid the focus on Ripple’s legal victory against the SEC, analytics provider Santiment highlights noteworthy rallies by several altcoins defying broader market calm. According to a recent tweet, lesser-discussed assets like Raydium, Veracity and others have staged eye-catching breakouts.
While social media centered on the SEC being denied permission to appeal a court decision favoring Ripple, some cryptocurrencies posted double-digit surges. Santiment suggests keeping close watch on these fast movers rather than those dominating headlines.
Source: Santiment – Start using it today
For example, Raydium’s RAY token spiked 24% in under an hour even as Bitcoin traded sideways. The layer-2 DeFi protocol benefited from protocol upgrades and could see further momentum from the improvements.
Veracity also staged a striking 71% price jump over just one week. The blockchain designed for enterprise saw rapid gains as adoption expands following a recent integration with software giant SAP.
Verasity operates as an open-ledger ecosystem with a focus on combating advertising fraud, offering accessible infrastructure to publishers and advertisers, and incentivizing users to engage with video content. On October 2, the team made an announcement that they had burned 50% of the maximum supply of Verasity tokens following a public community consultation. Subsequently, this development led to a five-month peak in the VRA token price, reaching $0.0066.
Raydium, on the other hand, functions as an automated market maker (AMM) and liquidity provider within the Solana blockchain ecosystem, primarily serving the Serum decentralized exchange (DEX). At the time of this update, the RAY token is trading at $0.204, reflecting a 13% surge in value.
Beyond parabolic rallies, Santiment notes opportune entry points arising for some larger cryptos like Solana near key support levels. But many of the most impressive performances flew under the radar amid distraction by the Ripple case.
The developments highlight the importance of identifying fundamental catalysts driving emerging rallies rather than reacting to market noise. Savvy traders avoid overlooking hidden pockets of strength because of fixation on high-profile narratives.
Of course, gaining timely insight into the wide universe of altcoin projects requires extensive research. But those able to spot surges backed by substantive utility or adoption can capitalize before the crowd catches on.
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The post While Ripple (XRP) Is Trending After SEC Appeal, Analyst Shares 2 Rising Altcoins To Look Out For appeared first on CaptainAltcoin.
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