PANews reported on April 27th that 10x Research stated in its latest report that the cryptocurrency market surged across the board this week, with Bitcoin breaking through the $95,000 mark, driven by factors such as easing macro risks, record-breaking ETF fund inflows, and a weakening US dollar. Altcoins followed closely, with increased institutional interest, ecosystem expansion, DeFi explosion, and a warming regulatory environment being the main drivers.
Specifically, Solana (SOL) rose 6.7%, supported by institutional buying, DeFi growth, short squeeze, and meme coin activity; Ripple (XRP) saw a slight increase, boosted by CME launching XRP futures and increased bank integration, despite legal risks. Stellar (XLM) surged 18.1% due to South Asian retail giant partnerships, trading volume spike, and relaxed US crypto banking regulations. Polkadot rose 10.1% against the trend, with the market remaining optimistic about eventual ETF approval despite SEC delays. SUI skyrocketed 64.3%, driven by DEX trading volume explosion, stablecoin ecosystem expansion, and notable partnerships. Raydium Protocol (RAY) increased 27.9%, benefiting from Solana's meme coin incentive program and DeFi recovery. Aave (AAVE) rose 21.5% due to Bitcoin's rebound, buyback plans, GHO stablecoin growth, and increased total value locked. Trump token surged 86% with the announcement of a dinner plan with Trump, still attracting investors amid political controversy. After the Algo Foundation launched a decentralized ID project, ALGO price rose 18.4%. BONK increased 55.7%, reclaiming its top meme coin status on Solana, benefiting from token burning and NFT market acquisition. Ondo rose 16.7%, buoyed by confidence from proactive discussions with SEC about tokenization and government bond tokenization.
