Popular layer-2 cryptocurrencies like EOS, IOTA, and Hedera Hashgraph were among the top gainers on Friday as Bitcoin found resistance at $97,000.
EOS (EOS) surged to $0.9570, rising over 36% from its December low and pushing its valuation to more than $1.2 billion. The token’s jump was driven by Binance’s announcement of an APR boost airdrop through the BNSOL Super Stake program. The boost will begin on January 6 and run through January 20, with users set to receive 320,656 EOS tokens valued at nearly $300,000.
EOS, launched by Block.one, had a strong performance in 2024 as its turnaround strategy progressed. Its total value locked in the DeFi industry space rose to over $254 million, fueled by projects such as EOS Rex, Defibox, and Paycash.
Hedera Hashgraph (HBAR) rose by more than 10%, reaching a high of $0.3200. The token is up over 630% from its 2024 lows. Its latest rally is linked to speculation about a potential HBAR ETF, with expectations growing ahead of Donald Trump’s swearing-in later this month.
Eric Balchunas, head of ETF strategy at Bloomberg, predicted that the SEC will approve a spot HBAR ETF. He noted that the agency has not previously categorized Hedera as a security, which increases the likelihood of approval.
Hedera’s ecosystem has also seen growth, with its TVL climbing to $186 million, supported by platforms like Stader, Bonzo Finance, and HLiquity.
IOTA (IOTA) price increased for three consecutive days, forming a bullish chart pattern known as the “three white crows,” characterized by three consecutive bullish candlesticks.
IOTA’s rebound, which we predicted, is because, as shown below, the token formed a falling wedge and a double-bottom pattern at $0.2785. It has also bounced back ahead of the Rebased upgrade, which will introduce more features like staking, full decentralization, and parallelized MoveVM.
Bitcoin price finds resistance at $97k
These tokens rallied as Bitcoin (BTC) price stalled at the important resistance at $97,000 after rising for four consecutive days.
Looking ahead, Bitcoin and these altcoins will react to the upcoming Gary Gensler resignation at the Securities and Exchange Commission. Gensler, who is widely seen as an anti-crypto regulator, will be replaced by Paul Atkins, who has supported the industry.
Cryptocurrencies may also see renewed momentum ahead of Donald Trump’s inauguration on January 20. Trump has shifted his stance and become vocal about supporting the crypto industry. According to Arkham, he holds over $9.4 million in crypto tokens.
World Liberty Financial, his company, has over $78.7 million in assets. While the market has priced in Trump’s victory, there are expectations that crypto prices could rise further as the inauguration approaches.
