Here’s Why DEGE, Assemble AI, and Caldera Crypto Are Going Up

DegenCoin (DEGE), Assemble AI (ASM), and Caldera (ERA) showed remarkable gains on Thursday, with DEGE rising over 127%. The crypto market sentiment improved, influenced by legislative movements such as the GENIUS and CLARITY Acts. The rise of Caldera was notably linked to its listings on major exchanges, while similar spikes in altcoins often result in temporary gains, followed by declines.

On Thursday, several altcoins rose significantly, with DegenCoin (DEGE), Assemble AI (ASM), and Caldera (ERA) leading the pack. DEGE tokens saw a staggering increase of over 127%, hitting a peak of $0.033. Meanwhile, ASM experienced a remarkable 132% jump, and ERA wasn’t far behind, with a 91% surge. Other notable gainers included Block, Cross, and Sologenic, all reflecting a general uptick in the crypto market.

The revival in these altcoins seems to be linked to an overall restored sentiment within the cryptosphere, as evidenced by the Fear and Greed Index swinging into the ‘greed’ category. This comes on the heels of Bitcoin’s recovery, which crested an essential resistance level exceeding $120,000.

A significant driver of this rally was the conclusion of Crypto Week, during which Republican lawmakers approved three bills. Among these, the GENIUS Act aims to simplify stablecoin regulations, while the CLARITY Act delineates responsibilities between the SEC and CFTC regarding crypto oversight. Additionally, a bill to ban central bank digital currencies (CBDCs) in the US was also voted on.

It’s not unusual for lesser-known altcoins like DEGE, ASM, and ERA to spike when the broader crypto market sentiment brightens, although history has shown that such price surges may be fleeting. For instance, Caldera’s increase can largely be attributed to buzz surrounding its recent listings on major exchanges like Coinbase and Upbit. Coinbase plays a dominant role in the US market, and Upbit is the leading exchange in South Korea.

Listings on significant exchanges usually prompt initial price hikes for cryptocurrencies, yet they often fall back once the initial excitement fades. A prime example of this pattern is Orca, which exploded over 300% following its Upbit debut, only to witness a steep decline thereafter.

Caldera’s listing seems justified, considering its solid fundamentals; the blockchain boasts over $1 billion in total value locked (TVL), 17 million unique wallets, and has processed more than 550 million transactions.

As for the future, speculation surrounds Dogecoin (DOGE) with predictions pointing towards it being a coiled spring, seemingly primed for a potential breakout.