A handful of lesser-known cryptocurrencies lit up the charts on Thursday, with tokens like DegenCoin (DEGE), Assemble AI (ASM), and Caldera (ERA) posting triple-digit percentage gains as market sentiment turned bullish.
Fueled by renewed optimism and a sharp move in Bitcoin, these altcoins caught fire in what became one of the liveliest days for crypto traders in recent weeks.
Triple-Digit Gains as Traders Pile Into Altcoins
DegenCoin surged by a jaw-dropping 127%, hitting an intraday high of $0.033. Right behind it, Assemble AI exploded 132% higher, while Caldera jumped 91%.
It wasn’t just these three. Other names like Block, Cross, and Sologenic also posted impressive double-digit gains.
The sudden spike came as Bitcoin broke above a critical resistance level of $120,000, shaking off recent sluggishness. At the same time, the Crypto Fear and Greed Index ticked into the “Greed” zone, signaling stronger risk appetite among investors.
DEGE, ASM, and ERA may be far from household names, but on Thursday, they were the stars of the crypto world.
Political Tailwinds Gave Crypto a Shot in the Arm
There was more behind Thursday’s pump than just price charts. Politics played a key role, too.
Republicans made waves in Washington by voting in favor of three major crypto-related bills during the final stretch of Crypto Week. That was enough to send ripples through the market.
The highlights:
GENIUS Act: Seeks to simplify rules around stablecoins.
CLARITY Act: Aims to clarify the roles of the SEC and CFTC in regulating crypto.
CBDC Ban Bill: Proposes a ban on central bank digital currencies (CBDCs) in the U.S.
All three bills were seen as broadly pro-crypto and anti-overregulation. That gave investors hope that the U.S. might finally take a clearer—and friendlier—stance on digital assets.
That optimism poured directly into the altcoin space, where lower market cap coins are often more sensitive to sentiment shifts.
Coinbase, Upbit Listings Push Caldera Into Spotlight
While DEGE and ASM benefited from the broad rally, Caldera’s gains had an extra push.
The token got listed on Coinbase—the leading crypto exchange in the U.S.—and Upbit, South Korea’s biggest crypto platform. That one-two punch put Caldera in front of millions of new traders.
It’s a classic pattern in the crypto world. Listings often trigger fast, sharp price moves, especially for tokens with low float or limited liquidity.
There’s even a term for it: “The Coinbase Effect.” Sometimes it sticks. Most times, it fizzles.
In Caldera’s case, there’s some weight behind the hype. The project reportedly has:
Over $1 billion in total value locked (TVL)
17 million unique wallets
More than 550 million transactions handled to date
That’s not small potatoes for a network that most casual crypto users hadn’t heard of a week ago.
But Caution Still Rules the Day
Here’s the thing. These kinds of vertical spikes in altcoins? They’re exciting—but they’re rarely sustainable.
We’ve seen it play out time and again. An exchange listing or news trigger sends a coin flying. Then reality kicks in, and the price slides back just as quickly.
Remember Orca? It surged over 300% after being listed on Upbit, only to plunge soon after.
These altcoins, fun as they are, often act like matchsticks in a bonfire—bright, fast, and gone before you know it.
Speculation Returns but Long-Term Outlook Still Cloudy
The bounce in altcoins reflects how quickly momentum can return to crypto markets. But it also highlights their fragility.
Bitcoin’s move above $120,000 was a key moment. It reignited interest across the board and pulled smaller tokens along for the ride. Whether that momentum lasts, though, is another question.
Many of these coins remain disconnected from real-world utility or long-term adoption. Their price action is driven more by emotion and headlines than actual fundamentals.
Caldera might be an exception. With major exchange backing and real usage metrics, it stands apart—for now. But even then, traders should be aware that listings bring volatility, not just upside.
At the same time, the political news out of Washington could be a turning point. If those bills gain traction, we could see a more structured, supportive framework for crypto in the U.S.
That would be a major win for an industry that’s been begging for clarity for years.
