Solana, Ethereum, Ripple’s RLUSD, and Tether’s USDT Are Among the Handful of Crypto Tokens Showing Signs of Recovery

input: Solana, Ethereum, Ripple’s RLUSD, and Tether’s USDT are among the handful of crypto tokens showing signs of recovery

The cryptocurrency market cap experienced a slight decrease of 3.3%, sliding from $2.88 trillion to $2.78 trillion, as reported by CoinGecko. This downturn follows Donald Trump’s announcement of raising reciprocal tariffs on several nations, an action that has triggered a $2 trillion loss in the S&P 500 stock market index.

However, the crypto market demonstrated a swift recovery as Santiment, a crypto analytics platform, highlights the top trending assets. Among them, Solana’s SOL is seeing significant interest and activity marked by heightened levels of bullish price predictions. A possible catalyst could be Fidelity’s spot SOL ETF that is heading closer for an SEC approval.

Similarly, Cardano’s ADA and Binance Coin (BNB) are also in the limelight, with users speculating on their future price movements and potential investments.

Ethereum, being the largest altcoin, is raking in attention due to its frequent mention in discussions about crypto market analysis. Moreover, Trump’s crypto portfolio is 92% based on the ETH blockchain. Traders are keeping a close eye on the transition to Ethereum 2.0 and its implications for scalability and adoption.

CRYPTO RESILIENCE: Stablecoin USDT’s Trading Dominance and RLUSD’s Rise

Stablecoins are also making headlines. These fiat-pegged assets are crucial in the US regulatory and legislative agenda. The Senate Banking Committee will vote on the stablecoin bill on March 10-14, which can help shape financial regulations.

Sentiment has highlighted Tether, one of the largest stablecoin giants, for its role in trading contexts across various platforms. “The active engagement of traders utilizing USDT for transactions and profit calculations reflects its significance in the current crypto market dynamics.”

We are also seeing increased chatter about Ripple’s newest launched stablecoin, $RLUSD, especially after its deployment into Ripple’s payment systems. The stablecoin’s role is to ramp up cross-border transactions and attract further institutional interest. Data have shown how RLUSD’s trading volume has risen by an impressive 87% and has even surpassed $10 billion in trading volume on exchanges like Kraken.