The Bitcoin price remains above $110,000 and shows signs it could reach new highs this month, as expectations of rate cuts and institutional momentum grow. However, two major altcoins, XRP and Cardano, are showing weakness.
XRP is currently trading at $2.84, down 5% this week, while Cardano is trading at $0.82, with a 6% decline in the same window. These bearish moves are fueled by diminishing market appetite, as well as a decline in on-chain activity for XRP.
Meanwhile, a new Bitcoin-linked altcoin called Bitcoin Hyper is surging. The project is currently undergoing a presale and has raised a substantial $13.7 million so far, with approximately $200,000 in inflows recorded in the last day. Its presale success reflects strong demand, and hints at significant potential for gains once it becomes available on exchanges.
The project is creating a Bitcoin Layer 2 blockchain using Solana Virtual Machine (SVM) and ZK-rollup technology. It aims to provide scalability and smart contract capabilities for Bitcoin without compromising its core security benefits.
Bitcoin Hyper Presale Goes Viral With $13M Raised
The Bitcoin Hyper presale is gaining intense momentum with $13.7 million raised, and it continues to accelerate. Adding to the excitement, investors appear to be adopting a long-term approach, with over 650 million tokens staked and APYs of up to 79% still available.
These tokens are expected to be locked for at least one week after the exchange launch occurs, indicating that traders are confident that the HYPER will have a strong launch.
Various analysts also predict that HYPER will explode when it lists on exchanges. For example, Mark Khan from the 99Bitcoins YouTube channel recently speculated it could deliver 100x gains this year.
Khan praised Bitcoin Hyper’s bold vision: transforming Bitcoin from a slow network mainly used for storing value into a high-performance ecosystem for DeFi, payments, and meme coins.
Bitcoin Hyper also has a trustless canonical bridge that allows users to effortlessly transfer their BTC onto the network. This could bring in billions of dollars in capital, encourage ecosystem development, and potentially lead to a sharp rise in the HYPER price. That’s why traders and analysts are excited.
XRP Metrics Suggest Loss of Momentum
Declining on-chain activity and decreasing open interest indicate potential further losses for XRP after its 5% weekly decline. The number of active addresses on the network has dropped to 19,250 from around 50,000 in mid-July.
Meanwhile, XRP’s open interest is also decreasing, a clear sign of diminishing trader appetite. According to data from Coinglass, XRP’s OI peaked in mid-July and has fallen from over $10 billion to $7.6 billion today.
In that same window, the XRP price dropped from $3.55 to $2.8, representing a 21% decline.
With all that in mind, even if a bullish scenario unfolds and the broader market follows Bitcoin’s lead and rallies in the coming weeks, XRP’s loss of trader appetite could lead to smaller gains.
Whales Sell Cardano as Price Struggles
Cardano is currently showing signs of trouble, with whales fleeing the project this week. Per analyst Ali Martinez, Cardano whales have sold 30 million tokens in the past week alone.
This is a concerning sign, as whale activity typically reflects the confidence of large investors. A quick sell-off over a short period suggests a lack of conviction in ADA’s near-term price prospects and signals more downside risk – something only intensified by Cardano’s underperformance against other top altcoins recently.
Conclusion: Bitcoin Hyper Set to Outperform
While XRP and Cardano are slipping, Bitcoin Hyper (currently priced at $0.012855) is rapidly advancing in its presale. The project’s strong connections to Bitcoin, its value-focused use case, and its early development stage give it a significant edge and have helped it outperform other altcoins recently.
These factors suggest that HYPER could be the best crypto to buy now for big gains. Even in a best-case scenario where Bitcoin rallies to new highs this month, XRP and ADA likely have limited upside, while analysts say Bitcoin Hyper could produce a staggering 100x gain.
This article is not intended as financial advice. Educational purposes only.
