Altcoins have once again taken center stage with sharp price movements in SEI, APT, and RENDER, while XRP has fallen behind due to regulatory issues.
SEI Takes the Lead
SEI has emerged as a leader among major cryptocurrencies, surging over 50% in the past week. Key drivers of this growth include: * Wyoming selecting SEI for its stablecoin pilot, enhancing institutional appeal. * Details regarding the upcoming v2 airdrop. * Increased staking APY to 9%. Record DEX volumes ($60M+) and TVL exceeding $570M have established SEI as a leading gaming chain. The price increase appears more related to organic demand than speculative trading.
APT Gaining Popularity
APT has also shown good growth, rising by 4.32%. This followed Bitwise's amendment of ETF filings for Aptos and Dogecoin, increasing the odds of approval to 90%. This reflects growing regulatory activity and market confidence. APT also became the leader in staking in June with an increase by 18%, due to its Move-based architecture and strong validator infrastructure.
XRP Situation
Despite the recent surge in XRP due to ETF approvals, the token dipped by 2.38% after Judge Torres rejected Ripple's $50M settlement with the SEC. The permanent injunction on institutional sales remains in place. However, retail trading continues, although institutional limitations weigh on broader adoption.
Overall sentiment in the cryptocurrency market is shifting back to risk-on mode, with a clear interest in assets that promise yield and improved infrastructure. Existing altcoins such as SEI and APT are showing significant growth, indicating a revival of interest and demand for innovative solutions.
