The cryptocurrency market experienced a notable surge, with the total valuation crossing $3.29 trillion, thanks to significant gains in altcoins such as Cardano (ADA), Ripple (XRP), and Dogecoin (DOGE). This uptrend coincides with news of SEC Chair Gary Gensler’s impending departure.
Cardano’s value soared by 35% to nearly $1, influenced by rumors of Gensler’s exit and possible cooperation with the upcoming administration. XRP saw a 36% increase, reaching new annual highs above $1.45, as investors speculated on a favorable end to the Ripple Labs lawsuit post-Gensler.
Dogecoin broke out of a stagnation period, gaining 13%. Meanwhile, Bitcoin’s path to $100,000 hit a speed bump amidst the altcoin excitement.
Market data showed a surge in ADA acquisitions by large holders, suggesting growing confidence in Cardano’s future performance. Regulatory movements saw France limiting access to a crypto predictions platform and oinbase">Coinbase signaling more meme coin listings in anticipation of regulatory clarity with the new administration.
The cryptocurrency sector’s landscape is quickly evolving, underlined by altcoin rallies and regulatory news shaping investor sentiment and market dynamics.
Altcoins Lead Crypto Market Surge as SEC Chair Plans Exit
