Analyst Says XRP and Other Altcoins Will Be ‘Major Winners’ from Crypto-Friendly Regulation – DL News
- Bitcoin reached a new record high this week.
- Options traders are eyeing $120,000 this month.
- Kaiko explains why you should buy smaller cryptocurrencies instead.
Options traders have piled about $640 million on bets that Bitcoin will reach $120,000 on December 27.
However, there is only a 10% chance that these bets will pay out, according to research firm Kaiko.
“While the chances of BTC gaining another $15,000 in the next 10 days or so are slim, that doesn’t mean there won’t be gains in other assets,” Caico analysts wrote in a note on Monday.
Smaller cryptocurrencies like Solana, XRP, and Cardano have outperformed both Bitcoin and Ethereum this year, especially after Donald Trump won the election, Kaiko wrote.
“These assets are all set to be major winners amid the changing U.S. regulatory landscape,” they wrote, as SEC Chairman Gary Gensler is scheduled to leave on January 20.
Gensler led the agency’s crackdown on the cryptocurrency industry. His approach has brought the cryptocurrency industry to a halt, which is now the coming days His departure.
XRP
Ripple-pegged XRP has been the standout winner in the post-election rally. It has risen over 400% since November 5 and is now the third largest cryptocurrency after Bitcoin and Ethereum.
Arthur Azizov, CEO of cryptocurrency payment provider B2BINPay, newly He said DL News He expects to break its record price of $3.4 before the end of the year.
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“It will probably trade between $5 and $7 in the first half of 2025,” he said.
Solana
Solana arrived register $263 in late November, but the price has fallen more than 15% since then. However, it is still up about 33% since the election.
Market watchers remain optimistic. UK Bank Standard Chartered The cryptocurrency is expected to rise to nearly $700 by the end of 2025.
“Then SOL could overtake Ethereum” in terms of overall value, Philippe Bekhazi, CEO and co-founder of cryptocurrency trading firm XBTO, said recently. DL News.
Bitcoin and Ethereum
Bitcoin and Ethereum will also see their prices skyrocket over the next year to $200,000 and $10,000, respectively, according to Standard Chartered.
On Monday, cryptocurrency analysis firm 10x Research predicted that Bitcoin would rise to $120,000 by Trump’s inauguration.
Crypto market drivers
- Bitcoin rose 2.9% over the past 24 hours to trade at $106,804.
- Ethereum price rose 2.3% to trade at $3,998.
What we read
Update December 19: An earlier version of this story inaccurately indicated that analysts were telling investors to buy altcoins. The title and body copy have been changed to reflect this.
Erik Johansson is news editor at DL News. Got a tip? Email at eric@dlnews.com.
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