- EOS, IOTA, and Hedera Hashgraph cryptocurrencies were among the top gainers on Friday as Bitcoin’s price stalled at $97,000
- EOS surged over 36% from its December low, driven by Binance’s announcement of an APR boost airdrop through the BNSOL Super Stake program
- Hedera Hashgraph rose by more than 10%, fueled by speculation about a potential HBAR ETF and growth in its ecosystem
he world of cryptocurrency is ever-evolving, with digital tokens like EOS, IOTA and Hedera Hashgraph gaining noticeable traction last Friday. This upward trend occurred amidst Bitcoin’s price stalling at $97,000, showcasing the dynamic nature of the crypto market.
Layer-2 Cryptocurrencies – EOS, IOTA, and Hedera’s Rise
Popular layer-2 cryptocurrencies EOS, IOTA, and Hedera Hashgraph were among the top gainers last Friday as Bitcoin found resistance at $97,000. EOS saw a significant surge in its value, rising over 36% from its December low, pushing its valuation to more than $12 billion. This remarkable leap was driven by Binance’s announcement of an APR boost airdrop through the BNSOL Super Stake program.
The Impact of Binance’s Announcement on EOS
Binance’s announcement regarding the APR boost airdrop was a significant contributor to EOS’s surge. The program, which began on January 6 and ran through January 20, allowed users to receive over 320,656 EOS tokens, valued at nearly $300,000. This initiative boosted the popularity of EOS and attracted more investors to the cryptocurrency.
Hedera Hashgraph’s Growth and Potential ETF Speculations
Hedera Hashgraph rose by over 10%, reaching a high of $0.3200. The token is up over 630% from its 2024 lows. This latest rally is linked to speculation about a potential HBAR ETF, with expectations growing ahead of Donald Trump’s swearing-in later this month. The potential approval of the ETF could further boost Hedera’s market position.
IOTA’s Bullish Chart Pattern and its Implications
IOTA’s price increased for three consecutive days, forming a bullish chart pattern known as the ‘three white crows’. This pattern is characterized by three consecutive bullish candlesticks. IOTA’s rebound is due to the token forming a falling wedge and a double-bottom pattern at $0.2785. It has also bounced back ahead of the Rebased upgrade, which will introduce more features like staking, full decentralization and parallelized MoveVM.
Bitcoin’s Resistance at $97K
As these tokens rallied, Bitcoin’s price found resistance at the crucial point of $97,000 after rising consistently for four consecutive days. The upcoming resignation of Gary Gensler at the Securities and Exchange Commission and the inauguration of Donald Trump, who has shown support for the crypto industry, are likely to influence the future performance of Bitcoin and these altcoins.
Conclusion
Looking ahead, the cryptocurrency market is expected to be influenced by several factors, including political changes and regulatory developments. As we approach Donald Trump’s inauguration, there are expectations that crypto prices could rise further, given his vocal support for the industry. It’s a volatile landscape, but these recent events suggest that cryptocurrencies like EOS, IOTA, and Hedera are on the rise and could potentially offer lucrative opportunities for investors.
