In the dynamic world of cryptocurrencies, where trends can change dramatically from one day to the next, a select group of veteran projects are once again capturing the market’s attention.
These cryptocurrencies are: XRP from the Ripple company, Stellar (XLM), Hedera (HBAR) and Algorand (ALGO). The assets dubbed by analyst Marija Matic as “dinosaur cryptocurrencies”, due to their longevity and history, are experiencing a resurgence driven by renewed institutional interestaccording to your analysis published in Weiss Ratings.
The cryptoasset market has begun a bullish phase, fueled in part by the Bitcoin-vuela-victoria-trump-oro-cae/” target=”_blank” rel=”noreferrer noopener”>Donald Trump’s victory in the United States presidential elections, held on November 5.
Trump, known for his favorable posture towards cryptocurrencies and Bitcoin Mining, has promised clearer and more beneficial regulations for the industry, including the creation of a Bitcoin Strategic Reserve.
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These proposals have generated palpable optimism among investors. These cryptocurrencies, which previously seemed to have been forgotten, Now they are re-emerging thanks to their potential to serve institutional clientsinstead of focusing solely on retailers, the analyst highlights.
XRP: The great protagonist
Among the most prominent cryptocurrencies this season is XRP, created by the Ripple company. Despite its turbulent legal past, including a confrontation With the United States Securities and Exchange Commission (SEC), XRP has managed to recover.
In one month, XRP price is up an impressive 303%going from 0.50 dollars to 2.49 dollars in the current day, as seen in the following graph of TradingView.
XRP price. Source: TradingView.
The optimism around XRP is partly due to the imminent resignation of Gary Gensler, current chairman of the SEC, and the expectations of a friendlier regulatory environment under a new leadership.
Furthermore, Ripple is about to launch a stablecoin regulated, RLUSD, which would consolidate its position in the institutional market.
Added to this is the possibility of approval XRP-based ETFs is also on the horizon, broadening its appeal among large investors.
Stellar tracks XRP
Stellar (XLM), with its focus on cross-border payments and real-world asset (RWA) tokenization, registers a growth of 456% in the last month.
The connection between XLM and XRPboth technical and historical, has made XRP’s successes have a direct impact on XLM.
The Cryptocurrency went from $0.09 to $0.51, as seen in the following graph. TradingView.
XLM price. Source: TradingView.
The Stellar network, which has established strategic alliances with institutions such as Mastercard and Franklin Templeton, is proving its relevance in the institutional adoption of cryptocurrencies.
Hedera and its institutional model
Hedera (HBAR) has seen a 468% increase in its value in the last month. The parabolic rise in the price of HBAR began in the first days of last month, between November 3 and 9, when it was at $0.051. It currently has a price of $0.52, as seen in the chart. TradingView.
HBAR price. Source: TradingView.
This project, with a permission-based network model, focuses on enterprise and institutional applications. Your board of directors, composed of giants such as IBM, Google and Deutsche Telekom, strengthens its positioning.
Furthermore, the strategic collaboration with Ripple for payments with RLUSD and the application for an ETF of HBAR by Canary Capital have driven its recent rise, as reported by CriptoNoticias.
Algorand is not far behind
For its part, ALGO, cryptocurrency of the Algorand ecosystem, has grown 393% in the last month. Its price went from $0.10 at the beginning of November to $0.55 today, as seen in the following chart. TradingView.
Price of SOMETHING. Source: TradingView.
Cryptocurrency is driven by rewards implementation attractive for those who participate in network staking.
This mechanism not only secures the network, but also generates income for its users, increasing its attractiveness in the institutional market.
“With greater regulatory clarity and growing support from major financial institutions, these networks are poised to play a pivotal role in the next phase of the cryptocurrency revolution,” adds the analyst.
The impact of bitcoin and the altseason
Bitcoin remains the pillar of the market of digital assets, and its recent rally has dragged altcoins with itincluding “dinosaur cryptocurrencies.”
This phenomenon marks the beginning of a expected altseasona period in which alternative cryptocurrencies outperform bitcoin.
The Altcoin Season Index, currently at 78 pointsconfirms this trend, with a large number of cryptocurrencies showing outstanding performances.
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