Chinese Analysis Firm Evaluates Bitcoin, XRP, Cardano, and Tron: Why Did They Soar, What’s Next?

Cryptocurrency analysis firm 10x Research has released a new market report after Bitcoin surged above the $120,000 ￰0￱ to the report, the current rally is largely driven by Bitcoin, and a broad-based recovery in altcoins has yet to be ￰1￱ company noted that the rise in Bitcoin's price was fueled by increasing ETF inflows, optimism about tax reforms, and the accumulation of large investors. Furthermore, strengthening safe-haven demand amid financial uncertainty also fueled the ￰2￱ report revealed different dynamics emerging in the altcoin ￰3￱ experienced strong activity in the derivatives market, with open interest exceeding $1 billion and rumors of a potential spot ￰4￱ continued its rise thanks to institutional demand, token burns, and a partnership with Kazakhstan's Alem Crypto ￰5￱ Cardano (ADA), the prospect of a potential US spot ETF and decentralized governance initiatives boosted investor confidence, while whale accumulation also bolstered this ￰6￱ News: An Altcoin Has Been Hacked for the Third Time in the Last Year TRON (TRX) has attracted attention with its multi-chain integration plans, while founder Justin Sun's control of the token has revived centralization ￰7￱ (AVAX) remained strong thanks to AgriFORCE's $700 million rebranding commitment and the Foundation's $1 billion funding ￰8￱ (APT) maintained investor interest with its new USD1 stablecoin launch and increased on-chain interactions, while Sui (SUI) gained strong momentum on the DeFi side following whale accumulations and rumors of a potential Google AI partnership.

Meanwhile, Hedera (HBAR) took a significant step in terms of regulatory confidence by participating in Wyoming's stablecoin project, but SEC approval delays created short-term ￰9￱ (MNT) garnered whale interest with Bybit's new staking and institutional products, while on-chain activity and governance developments were noted to support long-term ￰10￱ (LDO) boosted investor confidence with VanEck's staked-ETH ETF application, a $50 million buyback program, and governance reforms around the NEST ￰11￱ report also noted a surge in crypto-related public ￰12￱ rekindled capital dilution concerns with its new Bitcoin acquisition, while Coinbase gained value thanks to an analyst rating upgrade and a partnership with ￰13￱ stood out with strong trading volumes after its inclusion in the S&P 500 ￰14￱ Bit Digital navigated a volatile period with its Ethereum staking move, Bitmine boosted investor confidence with its aggressive growth strategy and large ETH ￰15￱ and Riot garnered analyst support for their mining production and AI initiatives, while Bitdeer and Iren stood out with their data center expansions and growth targets in high-performance computing (HPC). 10x Research, in its assessment of the overall picture, stated, “This Bitcoin-led rally is in its early stages, with altcoins yet to participate.

However, institutional interest and ETF developments could generate momentum in the altcoin market in the coming period.” *This is not investment ￰16￱ Reading: Chinese Analysis Firm Evaluates Bitcoin, XRP, Cardano, and Tron: Why Did They Soar, What’s Next?