Altcoins have seen a mixed performance this past week, with some making significant gains while others remain in correction mode. Telcoin (TEL) led the rally with an 88% surge, pushing its market cap past $1 billion, while Sonic (S) jumped nearly 40% despite ongoing struggles since its rebranding.

Litecoin (LTC) also gained close to 30%, reclaiming the $10 billion market cap level, while DeXe (DEXE) dropped 11% as it continued its pullback from its early February highs. Meanwhile, ONDO has remained in a downtrend but could be setting up for a recovery as the broader RWA sector altcoins are going up.

Telcoin (TEL)

Telcoin (TEL) has surged 88% in the last seven days, making it one of the best-performing altcoins of the week. This surge pushed its market cap above $1 billion and reached its highest price level since December 2021.

This strong rally highlights renewed investor interest in the project as TEL breaks out of a long consolidation phase. With such momentum, Telcoin has reentered the spotlight as one of the best-performing assets in the market.

Telcoin aims to revolutionize remittances by providing a seamless and cost-effective way to send money globally. Through the Telcoin Wallet, users can send fiat remittances to over 20 countries.

If the bullish momentum continues, TEL could soon test the $0.013 level and even extend its rally toward $0.015. However, if the trend reverses, TEL might retrace to $0.0075, with further downside potential to $0.0063 or even $0.0042 in a stronger pullback.

Sonic (S)

S has surged nearly 40% in the last seven days, bringing its market cap back to around $1.5 billion. Despite the strong price rebound, trading volume has dropped 37% in the last 24 hours, now at $89 million.

This suggests that while buying pressure remains, overall market activity around S has slowed in the short term.

Sonic, formerly known as Fantom, aims to be the fastest and most efficient EVM Layer 1, combining speed, incentives, and top-tier infrastructure.

However, since its rebranding, the project has faced challenges, with its price still down 63% since mid-December 2024. While the recent rally is a positive sign, Sonic is still working to regain investor confidence and rebuild momentum.

If the current uptrend continues, S could test resistance at $0.60, and a breakout above that level could push it toward $0.65.

However, if S loses its momentum, it may retrace to $0.47, with further downside potential to $0.37 or even $0.33 if selling pressure intensifies.

Litecoin (LTC)

Litecoin, one of the most likely altcoins to receive ETF approval in the US, has climbed nearly 30% in the last seven days, with its price now trading near recent highs. Its market cap has reclaimed the $10 billion threshold, signaling renewed investor interest.

However, trading volume has declined 22% in the last 24 hours, now at $1.24 billion, suggesting a slight slowdown in market activity despite the strong rally.

LTC’s EMA lines indicate that the uptrend could continue, with short-term moving averages positioned above long-term ones.

This bullish setup suggests that momentum remains strong. If the trend holds, LTC could test resistance at $141 and $147. A breakout above these levels could push LTC toward $150 or even $160, which would mark its highest price since December 2021.

If the trend reverses, LTC has a key support level at $110 that could provide a buffer against a deeper decline.

However, if this level is lost, LTC could slide further to $96 or even $86 in a stronger pullback.

DeXe (DEXE)

DEXE, a governance protocol, has dropped 11% in the last seven days, bringing its market cap down to $1.5 billion. Trading activity has also remained relatively low, with its daily volume at $7.5 million. This decline comes as the token undergoes a correction following a strong rally earlier this month.

Built on the Ethereum blockchain, DEXE reached its highest price since 2021 on February 5. However, after hitting that peak, it has been in a pullback phase, with selling pressure outweighing buying momentum.

If the downtrend continues, DEXE could test the support at $15.8, and a break below that level could push it down to $13.2, its lowest price since mid-January.

On the other hand, if momentum shifts back in favor of buyers, DEXE could test resistance at $19.4, with further upside potential to $21.8 and $24.1. A strong breakout above these levels could even see DEXE testing $25 for the first time since April 2021.

Ondo Finance (ONDO)

ONDO has been in a downtrend over the last seven days, but with the RWA sector gaining momentum, it could be setting up for a recovery. As one of the leading real-world asset tokens, ONDO remains closely tied to broader sector trends, and as other RWA altcoins are currently trending, ONDO could follow that lead.

Its EMA lines are currently very close to each other, with short-term moving averages still below long-term ones.

However, the gap between them is narrowing, which could indicate a potential trend shift. If the downtrend continues, ONDO has strong support at $1.25, and a break below that level could push it down to $1.

If ONDO regains bullish momentum, it could test resistance at $1.49, with further upside potential to $1.66.

Ripple announced a significant rebrand, aligning its identity with the Internet of Value. The XRP issuer is looking to develop a new brand identity under the changing regulatory space in the US.

This strategic shift impacts its products, website, and social media presence, marking a new phase in its evolution.

Ripple Rebrands With a New Brand Focus

On February 14, Ripple announced its rebrand through a post on X, emphasizing its commitment to the Internet of Value and global financial innovation. The company stated that it is entering a new phase aimed at transforming how value moves across the world.

“We’re building for the next chapter with the vision that continues to drive us — the Internet of Value and transforming the way you move value around the world,” the firm stated.

A central aspect of the rebrand is the introduction of revised product offerings. According to the website, the platform has streamlined its services to focus on cross-border payments, digital asset custody, and stablecoins.

These changes cater to growing market demands and evolving financial technology trends. Ripple’s payment network, built on the XRP Ledger, facilitates seamless international transactions. Users can transfer funds across borders using various fiat and crypto assets.

This week, Ripple enhanced its payment infrastructure through a partnership with Unicâmbio, a Portuguese currency exchange provider. The collaboration enables instant money transfers between Portugal and Brazil, leveraging the firm’s blockchain-powered payment solutions.

Following its acquisition of Standard Custody last year, Ripple has also expanded into digital asset custody. This allows Ripple to offer secure asset storage services for banks and fintech firms.

The firm noted that the custody market presents significant growth potential, estimated at $20 trillion, due to the rising institutional interest in digital assets.

Another key update is Ripple’s foray into stablecoins, which was marked by the launch of Ripple USD (RLUSD). This asset, introduced in December, has reached a market capitalization of approximately $108.6 million.

According to CCData, the asset has already recorded over $3 trillion in trading volume within a month of its launch.

Meanwhile, Ripple’s rebrand comes with a significant website update. XRP advocate WrathofKahneman pointed out that mentions of Central Bank Digital Currencies (CBDCs) have been removed.

The company previously engaged in CBDC pilots in Palau and even launched a dedicated CBDC platform in 2023. The removal suggests a possible shift in focus, with Ripple potentially prioritizing its stablecoin efforts over government-backed digital currencies.

Abu Dhabi’s Mubadala Sovereign Wealth Fund has taken a bold step into the Bitcoin market, investing $436 million in US-listed spot Bitcoin exchange-traded funds (ETFs).

This acquisition, revealed in a February 14 filing with the SEC, highlights the national fund’s growing interest in digital assets.

Abu Dhabi’s Mubadala Becomes Seventh-Largest Holder of BlackRock’s Bitcoin ETF

Mubadala’s filing shows that its investment was directed at BlackRock’s iShares Bitcoin ETF (IBIT), securing over 8.2 million shares in the fourth quarter of 2024. This marks a fresh position for the fund, as no previous holdings of IBIT were reported in earlier filings.

Following this acquisition, Bloomberg ETF analyst James Seyffart noted that Mubadala now ranks as the seventh-largest known holder of IBIT.

The fund joins an elite list of institutional investors, trailing major firms such as Goldman Sachs, Millennium Management, and Symmetry Investments.

Meanwhile, Binance founder Changpeng Zhao noted that Mubadala is only one of Abu Dhabi’s sovereign wealth funds. He suggested that other state-backed investment entities might also have exposure to Bitcoin ETFs.

Market observers also pointed out that Mubadala’s investment aligns with the UAE’s broader push to establish itself as a leading blockchain and digital asset innovation hub. Over the years, Abu Dhabi has positioned itself as a prime destination for firms looking for supportive investment conditions.

This has resulted in the introduction of progressive regulations that have attracted major industry players seeking a crypto-friendly jurisdiction.

The Global Bitcoin Adoption Race

Mubadala’s investment reflects a growing trend among global institutions seeking Bitcoin exposure.

This shift comes as policymakers consider the potential for a strategic crypto reserve. Some in the US government have suggested that Bitcoin could be part of this initiative.

US Senator Cynthia Lummis underscored the significance of Mubadala’s development, suggesting that a global race for Bitcoin exposure was unfolding.

“I told you the race was on. It’s time for America to win,” Lummis wrote on X (formerly Twitter).

The lawmaker has introduced the Bitcoin Act of 2024, proposing the creation of a US Bitcoin reserve. The plan involves selling a portion of the government’s gold holdings to fund the purchase. If enacted, it would secure 1 million Bitcoin, roughly 5% of the total supply.

While the federal government’s stance remains uncertain, several US states have taken independent steps to integrate Bitcoin into their financial policies. Over 20 states have either proposed or enacted legislation to facilitate cryptocurrency investments.

Industry leaders view these developments as a sign of a global race for Bitcoin adoption. Satoshi Act Fund CEO Dennis Porter emphasized that US states are driving this shift. Considering this, analysts expect the country to emerge as a leading pro-Bitcoin nation.