The post Hedera, Stellar, Algorand, Ondo prices rise as Bitcoin hovers above $84k appeared on BitcoinEthereumNews.com.

Cryptocurrency prices stabilized on the first day of the month after crashing by double digits on Friday, ahead of Bitcoin’s options expiry. Hedera Hashgraph (HBAR) price led the charge among altcoins, rising by 25% on Saturday. Stellar Lumens (XLM) rose by 16%, while Algorand (ALGO) and Ondo Finance (ONDO) rose by over 15%.  ONDO, HBAR, Stellar, Algorand prices chart | Source: crypto.news These altcoins jumped after Bitcoin (BTC) bounced back above $85,000 after crashing to $78,115 on Friday. It rebounded after options worth over $5 billion expired on the last day of the month, and a sense of calm spread in the market, with American equities ending the day higher. The Dow Jones Industrial Average rose by 600 points, while the Nasdaq 100 and S&P 500 rallied by 95 and 300 points, respectively. Cryptocurrency prices often have a close correlation with the US stock market. There was no specific news on Saturday’s top movers, like Hedera Hashgraph, Algorand, Stellar Lumens, and Ondo Finance.  A potential catalyst for Hedera and Stellar Lumens is that the Securities and Exchange Commission has become more friendly on the crypto industry. It has ended its lawsuits on Gemini, Coinbase, and Uniswap, and is in talks with Justin Sun to end or settle its lawsuit.  Therefore, analysts anticipate that the SEC will now move to approve spot crypto ETFs like Litecoin (LTC), Hedera, and Stellar. An ETF approval would potentially lead to more inflows, boosting their prices.  The other potential reason for the HBAR, ALGO, ONDO, and Stellar rally is that investors are buying the dip since they all are trading at their lowest levels in months. It is a common situation for investors to buy the dip after assets crash. Additionally, this rebound may be part of a dead cat bounce, a common situation in…

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Filed under: News - @ March 1, 2025 2:20 pm