5 Bullish Tokens That Still Have Plenty Of Legroom For Growth
Bitcoin, Ethereum, Solana and other top cryptocurrencies have been getting a lot of attention of late, making significant gains on the back of Donald Trump’s election win and the promise of a friendlier crypto climate.
However, those legendary tokens are not the only rapid gainers, for there have been plenty of other movers and shakers that have displayed healthy price increases in the last week. One of the hottest tokens of late is a familiar old name, EOS, which continues to go from strength-to-strength in the wake of its community-backed takeover.
Meanwhile, another old stalwart, XRP, has also seen strong momentum, and there are others still that have made even more explosive gains.
Let’s take a look at some of the best performing tokens over the last week and see what factors appear to be driving their surging prices.
EOS
Since hitting its all-time high of $23 in April 2018, EOS has faced years of significant downward pressure, falling to an all-time low of just $0.40 in November 2023.
EOS is the native token of an open-source blockchain platform that emphasizes high performance, security, flexibility and low-cost transactions. It utilizes the EVM virtual machine and a WebAssembly engine, which is what enables it to support fast and low-cost multichain transactions.
The network is known for being highly scalable and programmable, operating on a delegated proof-of-stake consensus mechanism that enables participants to choose node operators. It’s fully decentralized without relying on traditional miners.
Current sentiment around EOS is bullish, with its “Fear & Greed” index rating of 69 showing lots of optimism for more rapid, long term growth. The project recently announced a major upgrade, launching Spring 1.0 and a revamped Savanna consensus algorithm that boosts transaction finality to just 1 second, meaning a 100-times improvement in transaction throughput. It’s a big leap in terms of performance that positions EOS as a strong foundation for the nascent Web3 industry, and that appears to be what’s driving its recent gains.
In the last week, EOS has surged to a price of $0.6655, up 16.95% in the last seven days, adding to its already strong impetus, which has seen it gain 19.98% in the last month. However, EOS remains 6.74% down in the last 12 months, which suggests there’s still a lot of room for this crypto to explode.
XRP
Ripple’s XRP is one of the most instantly recognizable cryptocurrencies and it has been around for years, yet it has never made the same impressive gains of other established tokens like BTC and ETH. But that appears to be changing now, with XRP’s price inching towards the $1.20 mark, having gained 84.37% in the last week.
While the token has dipped slightly in the past 24 hours, it’s up 105.40% in the last month, currently trading hands at $1.11. It’s a stunning gain considering it had essentially remained flat for the past year.
XRP has long had lots of promise, and is ranked number 6 on the crypto leader board, with a market capitalization of $63.32 billion. The likely reason for its sudden spike is Trump’s election win, which has led to rumors circulating that Ripple’s longtime enemy, the SEC Chairman Gary Gensler, is about to quit his job. And if that happens, there’s every chance that the SEC might finally give up its legal battle against the company.
Ripple has been locked in a legal battle with the SEC since December 2020, when the agency accused it of selling XRP as an unregistered security. The company scored an important victory in July 2023 when a court ruled that certain sales of XRP do not qualify as securities transactions, but that didn’t stop the SEC from appealing the issue, dragging out the case further.
But with Gensler’s departure and Trump’s promise to install a much friendlier face in his place, the crypto market is hopeful that the SEC will stop pursuing crypto companies, sparking newfound belief that XRP may finally live up to its promise.
HBAR
HBAR, the native token of the Hedera Hashgraph project, which hosts hundreds of decentralized applications, has been one of the biggest winners in the last week, rising an astonishing 157.09% in the last week.
Its price currently stands at $0.1483, building on gains that have seen it grow by an impressive 179.6% in the last month, helping its market cap grow to $5.57 billion and putting it firmly in the top 30 cryptocurrencies.
One reason for HBAR’s sudden growth is that Brian Brooks, who currently sits on Hedera’s board of directors, has reportedly been nominated as a replacement for Gensler at the SEC, which is something that appears to have whipped up lots of renewed interest in the Hedera project.
Another factor is that Canary Capital recently filed to create a spot HBAR ETF earlier this month, which would expose the token to institutional investors if approved and likely inject significant liquidity into the market. This adds to the broader excitement in the crypto industry over an improved regulatory environment for the crypto industry in the wake of Trump’s win.
Over on X, the popular cryptocurrency analyst Captain Fabik has announced that he’s extremely bullish on HBAR, highlighting a symmetrical triangle pattern on its weekly price chart, which suggests strong potential for a further breakout.
NEAR
Making slower and steadier gains is NEAR, the native token of the NEAR Protocol, which currently has an overwhelmingly bullish market sentiment after seeing consistent gains over the last year. As NEAR continues to forge strategic partnerships and improve its technology, there’s cautious optimism that this is a token that will enjoy strong gains over the long term.
NEAR distinguishes itself due to its focus on scalability, usability and developer-friendliness. The project is building an environment for decentralized applications and smart contracts that are accessible to anyone, and it’s this user-centric approach that gives it real potential for mainstream adoption.
The emphasis on user experiences is what positions NEAR at the cusp of significant growth in the wider dApps development ecosystem, making it an intriguing investment opportunity for those who believe in the power of blockchain-based innovation.
Although its gains over the last week have been more subdued at just 7.16%, NEAR has enjoyed consistent growth over the last year. In the last month, it’s up 25.94%, while in the last 12 months it has risen by an impressive 224.94%, making it one of the biggest winners in the crypto market in 2024.
What’s more, NEAR’s market cap remains on the low side at just $7.26 billion, which indicates that its relatively large trade volume of $661.46 is a very strong and bullish sign, with plenty of scope for more upward trajectory in the weeks to come.
GRT
GRT has made gains of 5.34% in the last week, and just over 6% in the last 24 hours, while in the last 30 days it’s up 28.69%, making it stand out as one of the healthiest, most consistent gainers in the cryptosphere in recent weeks.
It’s the native token of The Graph, which is a decentralized indexing system that makes it simple to query data from any blockchain network, making life simple for dApp developers. It’s an open-source protocol that lives on Ethereum, and is often likened to a kind of “Google for blockchains” due to the way it collects, stores and organizes data from decentralized networks to make it searchable.
By leveraging The Graph, developers can access and analyze blockchain data much more rapidly than if they were to search those networks the traditional way, which makes their dApps faster and easier to build. Users must pay in GRT tokens to query any blockchain it supports.
Recently, The Graph introduced a major upgrade that appears to have sparked more bullish sentiment. The new Timeline Aggregation Protocol or TAP streamlines payments for indexers, making the network more scalable and improving its decentralization, while reducing the need to trust indexers.
At present, GRT is trading at $0.2142, which is 41.87% above its 200-day simple moving average of $0.1204, which is a strong signal that the token is on an upward trajectory. With a low market cap of just $2.05 billion and high average daily trading volume of $152.94 million, market sentiment for GRT is clearly bullish.