According to the latest report from 10x Research, the cryptocurrency market surged this week, with Bitcoin surpassing $95,000, driven by macro risk alleviation, record inflows into ETFs, and a weakening dollar. Altcoins performed strongly, with increased institutional interest, expansion of the DeFi ecosystem, and an improved regulatory environment as the main driving factors.

Market Overview

Bitcoin: Surpassed $95,000, benefiting from an improved macro environment and ETF inflows.

Altcoins: Institutional FOMO (fear of missing out), DeFi boom, ecosystem expansion, and favorable regulations drove price surges.

Major Altcoin Performances

Solana (SOL): Up 6.7%

Driving Factors: Institutional buying, DeFi growth, short squeeze, Meme coin boom.

Ripple (XRP): Slight increase

Driving Factors: CME launched XRP futures, increased bank integration, market enthusiasm offsetting legal risk impact.

Stellar (XLM): Surged 18.1%

Driving Factors: Collaboration with South Asian retail giants, skyrocketing trading volume, relaxed regulations for U.S. crypto banks.

Polkadot (DOT): Up 10.1% against the trend

Driving Factors: Market optimism over ETF approvals and an open crypto market offsetting SEC approval delays.

SUI: Soared 64.3%

Driving Factors: Explosion in DEX trading volume, expansion of stablecoin ecosystem, high-profile collaborations.

Raydium Protocol (RAY): Up 27.9%

Driving Factors: Solana chain Meme coin incentive programs, recovery in the DeFi market.

Aave (AAVE): Up 21.5%

Driving Factors: Bitcoin rebound, buyback plans, growth of the GHO stablecoin, increase in total locked value.

Trump Token: Soared 86%

Driving Factors: Announcement of Trump's dinner plan, still attracting investment amidst political controversy.

Algorand (ALGO): Up 18.4%

Driving Factors: Algo Foundation launched decentralization ID project.

BONK: Up 55.7%

Driving Factors: Token burn, NFT market acquisitions, reclaiming Solana's top Meme coin status.

Ondo: Up 16.7%

Driving Factors: Positive dialogue with the SEC regarding tokenization and treasury tokenization.

Summary

This week's rise in the altcoin market was driven by multiple factors, including institutional capital inflows, DeFi and Meme coin booms, ecosystem expansion, and an improved regulatory environment. The Solana ecosystem performed particularly well, with tokens like SUI and BONK showing significant gains. Despite some projects facing regulatory uncertainties, market sentiment remains optimistic, and investors are confident about future developments.