ALEO and GMT Lead the Altcoin Surge

While Ethereum has bounced back above the $1,600 level, several altcoins are surging with ALEO and GMT leading the charge.

Several altcoins are showing strong gains on Wednesday, with ALEO leading the charge as it soars 26.2% in the past 24 hours.

ALEO is trading at $0.2498 by 09:18 ET Wednesday, showing a recovery from the day’s low of $0.1949. The token has also risen by 70% over the past seven days.

While ALEO’s price action has been noteworthy, there haven’t been any major project announcements or developments that clearly explain the surge. Some market observers on X have speculated that external factors might be driving interest in the token.

One X user suggested: “ALEO is pumping hard right now, suspect it has something to do with the Coinbase learning rewards, but hey! 16% in 1 day, is sixteen percent in 1 day.”

Second on CoinGecko’s list of the top crypto gainers is GMT, the native token of the move-to-earn platform STEPN GO. The token has climbed 25.7% in the past 24 hours, trading at $0.05762. The token has also shown a 30% growth over the past week.

Unlike ALEO, GMT’s price action appears connected to recent platform developments. STEPN GO has launched several new initiatives including leaderboard challenges, mystery boxes, and easter sneakers. This has created engagement opportunities for users and potentially driving increased token demand.

Among other notable gainers, DAR Open Network has gained 16.9% in the last 24 hours, trading at $0.04408 at press time. The project has been particularly active with development updates and announced several new features.

The first half of April has seen major progress toward the Dalarnia Legends Mainnet launch, alongside the debut of a new PvP game called Marble Rumble on the Telegram platform.

DAR’s development team has also started community events like Game Nights and a Marble Rumble x DAR Zealy Campaign to boost ecosystem engagement.

The overall crypto market shows signs of recovery, with Bitcoin (BTC) climbing above the $85,000 level and Ethereum (ETH) holding above the $1,600 mark.