The crypto market has seen a significant recovery, with XRP, XLM, and DOGE prices aligning on both Coinbase and Binance. This week, these cryptocurrencies have returned to similar pricing on both exchanges, indicating a resurgence in stateside demand. Previously, in December, these tokens were trading at a discount on Coinbase, but the gap has now narrowed. The Coinbase premium indicator, which compares dollar-denominated prices on Coinbase with tether-denominated prices on Binance, had spiked in early December when Bitcoin hit over $108,000. However, as market sentiment shifted due to hawkish Fed expectations, the premium turned into a discount. The current alignment of prices suggests a renewed interest from U.S. investors in these alternative cryptocurrencies.
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