Hedera (HBAR) climbed 34% to $0.266, driven by Bitcoin’s performance and institutional backing at the RAISE Summit, with a bullish outlook contingent on Bitcoin’s momentum.
This past week saw significant volatility in the cryptocurrency market, with many altcoins rising while others experienced declines amid decreasing investor demand. According to Ayotunde Alabi, CEO of Luno Nigeria, Ethereum (ETH) continued its upward momentum even as Bitcoin stalled, delivering solid gains across both short- and long-term timeframes.
Several other altcoins followed ETH’s lead, posting notable gains. Hence, BeInCrypto has analyzed three trending altcoins that made waves in Nigeria this week that investors should watch.
Ethereum has managed to navigate recent market volatility with significant support from investors. As companies increasingly mirror Bitcoin’s corporate treasury use case, Ethereum is gaining traction.
BeInCrypto spoke with Alabi, who emphasized that the growing momentum behind Ethereum reflects broader interest in its adoption and market potential.
“Nasdaq-listed Bit Digital has fully shifted its treasury strategy to Ethereum, selling its Bitcoin holdings and using $172 million in raised funds to acquire over 100,000 ETH. CEO Sam Tabar says the company sees Ethereum’s programmable design, expanding adoption, and staking yield model as catalysts for redefining the financial system,” Alabi stated.
Ethereum’s price surged 20.51% over the past week, reaching $3,544 and marking a 6-month high. The rally strengthened after ETH formed a Golden Cross last week.
With this bullish momentum, Ethereum is now targeting $4,000 in the coming days, benefiting from investor confidence and growing institutional interest.
However, if Ethereum’s bullish momentum weakens and investors opt to sell, the price could decline to $3,131. This would erase recent gains and invalidate the current bullish outlook. A
XRP has shown impressive performance this week, with a 24.5% rise and a new all-time high (ATH) at $3.66. The altcoin’s surge made it the third-most traded cryptocurrency on Luno in Nigeria.
This rally signals growing interest in XRP, particularly in regions like Nigeria, fueling market optimism.
XRP is currently holding above the support level of $3.38. While the price is cooling off, the Parabolic SAR is still beneath the candlesticks, signaling that the uptrend remains intact.
If the bullish momentum continues, XRP could breach its $3.66 ATH and push toward $3.80, marking further gains.
However, a decline remains possible if the altcoin faces selling pressure. The new ATH comes after six months of price fluctuations.
A pullback below $3.38 could bring XRP to $3.00 or even lower, invalidating the current bullish outlook and signaling potential market corrections.
HBAR has experienced a 34% price increase over the last seven days, trading at $0.266. This surge is largely attributed to its strong correlation with Bitcoin, with a correlation coefficient of 0.92, indicating that HBAR’s price movements are highly influenced by Bitcoin’s performance in the market.
The rally has been reflected in trading volumes on Luno in Nigeria, where HBAR has become one of the top-traded altcoins.
“The latest catalyst came at the RAISE Summit 2025, where Hedera was named the ledger layer for Verifiable Compute, an AI solution developed by EQTY Lab in partnership with NVIDIA, SCAN UK, and Accenture. The institutional endorsement sparked renewed investor interest and signals a major step for Hedera as it expands into the emerging AI-blockchain space,” Alabi told BeInCrypto.
HBAR’s upward trend is expected to continue if Bitcoin maintains its momentum, pushing the former to $0.300.
However, if Bitcoin experiences a downturn, HBAR could face a similar decline. In such a scenario, the altcoin could fall to $0.220, invalidating the current bullish outlook.
