Hedera, Stellar, XRP, Algorand and Cardano rallied 250% in 30 days. Is a price correction looming?
A select group of altcoins has seen remarkable gains exceeding 250% in the past 30 days, including Hedera (HBAR), Stellar (XLM), XRP, Algorand (ALGO), and Cardano (ADA). This rapid surge has left traders questioning the rally's sustainability and looking for indicators of a potential correction.
Some investors argue that these tokens were trading at substantial discounts relative to their previous all-time highs, leaving room for further upside. However, whether the recent rally is fundamentally justified or not, the heavy use of leverage among buyers raises the risk of sharp price corrections.
30-day funding rate on perpetual futures. Source: CoinGlass
