Altcoins Surge: Raydium Jumps 35% on Exchange Listing, Mantle Rises 15% with Digital Bank Launch

Altcoins experienced a notable surge today, with Raydium (RAY) and Mantle (MNT) leading the charge. Raydium saw a significant price increase of up to 35% in the past 24 hours, driven by the listing of its USDT and KRW trading pairs on South Korea’s leading exchange. This development sparked renewed trader interest, as evidenced by a more than 600% increase in its 24-hour trading volume. However, the altcoin's massive volatility calls for caution, and its ability to sustain the rally remains uncertain. Despite the recent gains, Raydium had struggled in the previous month, losing about 30% of its value. If the token can reclaim the vital region between $2.60 and $2.70, it could trigger substantial gains to the resistance at $3.5.

Mantle's native token, MNT, also turned bullish, with a 15% jump following the launch of UR, a crypto-first digital bank. UR aims to bridge traditional finance with decentralized finance (DeFi) by allowing users to save, spend, and more in one account. This impressive ecosystem development has fueled MNT's rally, but the altcoin will likely need surged trading volumes to sustain its current momentum. Despite the recent gains, MNT's trading volumes remain weak, with only a 4% increase in the past day.

Meanwhile, Ethereum, the largest altcoin by market cap, held above its key support of $2,500. At press time, ETH was trading at $2,534, and the shifting sentiments indicate imminent recoveries. Institutional accumulation suggests investor confidence in Ethereum’s performance. Maintaining the prevailing bullishness could see the token soaring to the nearest resistance at $2,699. However, losing grounds at $2,500 would trigger notable dips to the reliable support zone at $2,395. Weakness at this foothold might open the path to the psychological mark of $2,000.

The overall cryptocurrency market is performing relatively well amid soaring geopolitical tensions. Most tokens have held their crucial price levels as Bitcoin trades range-bound within the $105,000 vicinity. Altcoins saw mixed movements in the last 24 hours, with many signaling potential momentum shifts to bullish. The largest altcoin by market cap has remained resilient as the crypto industry ignored the Israel-Iran conflict.