XRP, Stellar, and Cardano demonstrate robust performances in new Grayscale rankings, indicating growing investor interest amid ETF approval expectations.
XRP, Stellar, Cardano in the Spotlight
In Grayscale Investments' ranking, XRP, Stellar, and Cardano emerged as leaders among cryptocurrencies, showing the highest percentage gains. XRP surged over 9.7% in the past week, bringing its year-to-date increase to 59.4%. At the time of the snapshot, XRP's market capitalization was $196.4 billion. Stellar increased by 9.1%, with an annual return of 31.8% and a valuation of $14.3 billion. Cardano rose by 6.3%, reducing its year-to-date losses to 6.8%, with a market capitalization of $28.7 billion.
Futures ETF Prospects
Futures ETFs linked to XRP and Solana demonstrated record trading volumes, reaching nearly $3 billion in recent weeks. This reinforces growing investor confidence in these assets. Interest in Cardano is also increasing: within 48 hours, $157 million worth of 200 million ADA was transferred into whale wallets, indicating rising investor confidence ahead of potential Cardano ETF approvals, which are rated at 75%.
Market Awaits ETF Approval
The odds of XRP ETF approval have climbed to 81% following the resolution of its legal dispute with the SEC. Solana boasts even higher approval chances at 99%. The success of futures ETFs could serve as a precursor for spot ETF interest, as regulators look for signs of liquidity and risk management before making their decisions.
Thus, XRP, Stellar, and Cardano are at the peak of investor interest due to their market performances and ETF approval expectations. These events might significantly influence the future development and prices of these cryptocurrencies.
