ALEO, GMT jump close to 30% as Ethereum reclaims $1,600

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

ALEO has risen 26.2% in the last 24 hours, trading at $0.2498 from a low of $0.1949. Data also shows that the token is up 70% over the past seven days.

Despite the strong price movement, there haven’t been any major project announcements or developments that clearly explain the surge. Some market observers have pointed to external factors that might drive 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 top gainers list 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 from a low of $0.04548. 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.

DAR Open Network has gained 16.9% in the last 24 hours, trading at $0.04408 from $0.03546. 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 $85,000 and Ethereum (ETH) holding above the $1,600 mark.