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Status (SNT) and Ardor (ARDR) are some of the altcoins to gain significantly in the past 24 hours.
SNT has soared more than 38% while ARDR is up 22% to rank amongst the biggest gainers in the top 100 by market cap.
SNT and ARDR are not attracting as much attention as Bitcoin’s sharp spike to $82k has.
That might be the same case when looking at the outperformance of meme coins Dogecoin, dogwifhat, and Floki.
However, both Status and Ardor are trending alongside multiple leading altcoins and will likely benefit from further upside momentum for BTC.
Bitcoin hits $82k
Overall, crypto gains come as Bitcoin continues its bullish sentiment following the US elections in 2024 in which Donald Trump emerged winner.
As a pro-crypto president, Trump is giving the market positive vibes and investors are showing this through long-term bets on BTC and other coins.
Interest rates and institutional demand for crypto investment products are also key bullish catalysts.
Status and Ardor, which struggled amid a notable downtrend since hitting $0.056 and $0.14 respectively in March, are eyeing this upside momentum.
This upward trajectory that’s pushing Bitcoin towards a projected $100k in 2024 is what has Ethereum above $3,100 and Solana near $220.
Bitcoin is grabbing headlines amid its surge as Bloomberg ETF analyst Eric Balchunas highlights below.
Elsewhere, analysts expect ETH, SOL, and other leading altcoins to pick parabolic gains in the coming weeks and months.
Eric Balchunas
@EricBalchunas
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Bitcoin on front page of bloomberg dot com after weekend surge to $82k. Congrats to some, thoughts and prayers to others.
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Status price outlook
The price of Status (SNT) has soared by more than 38% in the past 24 hours to trade at highs last seen in early May.
According to data from CoinGecko, the SNT price is up more than 65% in the past week as it broke above $0.044.
In the past 24 hours, SNT’s gains have elevated it into the top 500 cryptocurrencies by market cap at $155 million.
The daily trading volume has surged by more than 980% to more than $627 million.
SNT hit an all-time high of $0.67 in January 2018.
Ardor price update
The pumping BTC market has several altcoins poised for potential breakout moves. Ardor (ARDR) is not all crazy at the moment but it’s up more than 20% in the past 24 hours.
At the time of writing, ARDR traded around $0.10. This is a crucial price level for bulls as it is the area that marks a key horizontal resistance line.
ARDR breaking above this line could set it towards March 2024 highs and then the bull market peak above $0.52 in May 2021.
If Ardor sees notable momentum as capital rotates into small caps, bulls could target $2 in the 2024-2025 bull market.
Like SNT, ARDR reached its all-time high of $2.55 in 2018.
The post Status (SNT) and Ardor (ARDR) rally as Bitcoin (BTC) surge strengthens bullish sentiment appeared first on Invezz
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