Bitcoin stays steady while SUI, ONDO, and RAY lead crypto gains

(Originally posted on : Invezz )

The global crypto market cap was up 2.6% to over $3.57 trillion on Thursday, with trading volume up 17% to over $130 billion.

Upbeat mood continued to dominate as the Asian trading session saw Bitcoin (BTC) hold steady following a bounce to above $105k on Wednesday.

Meanwhile, with cryptocurrencies reacting to Federal Reserve chair Jerome Powell’s remarks positively, several altcoins registered double digit gains.

Sui, Ondo Finance and Raydium topped the rankings among leading altcoins by market cap.

BTC price holds steady

Bitcoin (BTC) price fell below $98k this week and had some analysts calling for further pain, possibly to lows of $75k.

However, the benchmark has bounced to highs of $105,587 in intraday action on Jan. 30. 

With a daily range of $101,427 and $105,587, Bitcoin trades well above the range seen on Monday and could target the highs above $108 seen on January 20.

Gains for Bitcoin come amid growing adoption, including news the Czech National Bank is considering a historic $7 billion investment in BTC. 

Notably, on-chain data shows retail interest remains low. 

glassnode

@glassnode

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One way to gauge $BTC retail investor activity is by tracking the Spent Volume of wallets holding less than 0.1 BTC: glassno.de/3EqKU3m
At its peak in Nov 2024, retail investors were spending $20.6M per hour. Today, that figure has dropped to $10.7M per hour – a ~48%…

12:08 pm · 30 Jan 2025

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Bitwise CIO Matt Hougan said in a note that Trump’s executive order on crypto could make $200k predictions for 2025 ‘conservative.”

XRP, SOL and DOGE index boost

On Thursday, top altcoins XRP, SOL and DOGE looked to hold above key support levels.

XRP changed hands  at $3.11, Solana price hovered near $240 and Dogecoin traded around $0.33. 

These altcoins were seeing slight gains after news on Wednesday pointed to trader interest. 

Upside movement aligned with recent announcement from GMCI, which unveiled a USA Select Index that tracks top US-based crypto tokens.

GMCI

@gmci_

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Replying to @gmci_

Cheers to the projects that got in GMCI USA Select:
✅ $XRP @Ripple
✅ $SOL @solana
✅ $DOGE @dogecoin
✅ $ADA @Cardano
✅ $AVAX @avax
✅ $LINK @chainlink

5:05 pm · 24 Jan 2025

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XRP, SOL and DOGE make up two thirds of the weighting, while other assets include Litecoin, Chainlink, Avalanche, Sui and Cardano.

LTC has also gained amid developments around Canary Capital’s Litecoin ETF filing.

SUI price up after Phantom integration

On Wednesday, Phantom wallet announced official support for Sui (SUI).

The integration allows Phantom users to send, swap, and explore SUI.

The layer-1 chain is the first Move-based blockchain to go live on the non-custodial multi-chain wallet.

SUI price has bounced amid the news, with bulls seeing intraday highs of $4.19.  

ONDO, RAY among top gainers

Apart from SUI, other top altcoins by market cap seeing double digit gains at the time of writing are Ondo Finance (ONDO) and Raydium (RAY).

ONDO price, up 14%, rose amid its latest partnership with Ripple that sees the tokenized real-world assets platform launch its OUSG on Ripple’s XRP Ledger.

Bullish sentiment is also up ahead of Ondo Finance’s upcoming summit set for February 6, 2025.

RAY, the token of the Raydium decentralized exchange, has also notched 14% in gains in the past 24 hours.

It ranks alongside Onyxcoin (XCN) and DeXe (DEXE) as top gainers among 100 largest coins by market cap today.

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