Top 3 Altcoins Trending in Nigeria This Week
The cryptocurrency market experienced notable activity this past week, with several altcoins showing significant movement despite fluctuating investor interest. Ayotunde Alabi, CEO of Luno Nigeria, noted Ethereum's continued rise even as Bitcoin remained stable.
Here’s a look at three altcoins that have been particularly popular among Nigerian investors this week.
Ethereum (ETH)
Ethereum (ETH) has successfully navigated recent market volatility, maintaining strong investor support. As more companies explore using Ethereum for treasury management, similar to Bitcoin, its appeal continues to grow.
According to Ayotunde Alabi, the increasing interest in Ethereum highlights its growing adoption and market potential.
“Bit Digital, a Nasdaq-listed company, has shifted its treasury strategy to Ethereum, selling its Bitcoin holdings and using $172 million to acquire over 100,000 ETH. CEO Sam Tabar believes Ethereum’s programmable design, expanding adoption, and staking yield model are catalysts for redefining the financial system,” Alabi stated.
Ethereum's price increased by 20.51% this past week, reaching $3,544, a 6-month high. This rally was reinforced by a Golden Cross formation the previous week.
Ethereum is now aiming for $4,000, driven by investor confidence and growing institutional interest.
However, a weakening in bullish momentum could lead to a price decline to $3,131, potentially negating recent gains.
XRP (XRP)
XRP has shown strong performance this week, rising by 24.5% and hitting a new all-time high (ATH) of $3.66. This surge has made it the third-most traded cryptocurrency on Luno in Nigeria.
This rally indicates increasing interest in XRP, especially within the Nigerian market.
XRP is currently holding above the support level of $3.38. Despite some price cooling, the Parabolic SAR suggests the uptrend remains intact.
If the bullish trend continues, XRP could surpass its ATH of $3.66 and move toward $3.80.
However, a pullback below $3.38 could bring XRP down to $3.00 or lower, potentially invalidating the current bullish outlook.
Hedera (HBAR)
Hedera (HBAR) has seen a 34% price increase over the last seven days, trading at $0.266. This rise is largely due to its strong correlation with Bitcoin, indicated by a correlation coefficient of 0.92.
The increased trading volumes on Luno in Nigeria reflect HBAR’s growing popularity.
“The latest catalyst came at the RAISE Summit 2025, where Hedera was named the ledger layer for Verifiable Compute, an AI solution developed by EQTY Lab in partnership with NVIDIA, SCAN UK, and Accenture. The institutional endorsement sparked renewed investor interest and signals a major step for Hedera as it expands into the emerging AI-blockchain space,” Alabi told BeInCrypto.
If Bitcoin maintains its momentum, HBAR is expected to continue its upward trend, potentially reaching $0.300.
Conversely, a Bitcoin downturn could cause HBAR to fall to $0.220, negating the current bullish outlook.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Cryptocurrency investments are subject to market risks. Conduct thorough research and consult a financial advisor before making investment decisions.