Markets
These Altcoins Are Outperforming the Crypto Market Recovery
The crypto market recorded a significant jump in the last 24 hours as altcoins erased previous losses. The change in sentiments comes after the release of Consumer Price Index (CPI) data showing the cooling of inflation in the United States. Bitcoin and altcoins rose, bringing the crypto market capitalization to $2.52 trillion, an increase of 3.45% in the last 24 hours.
Altcoins in the top 20 mark recover, however, some assets are outpacing the maker with double-digit numbers, while others have made slight gains. Overall, crypto bulls rally their holdings, projecting a recovery above current resistance levels. Here are the top altcoins on the crypto market today.
Uniswap (UNI)
UNI, the decentralized crypto exchange token, Uniswap has seen increased inflows onto top altcoins. The asset rose 11% in the last 24 hours, bringing its price to US$9.81. Although the weekly numbers remain in the red zone, the recent increase has revived its community, anticipating renewed interest. UNI is down 10% this week along with other crypto assets. Last week, crypto assets recorded bearish sentiments following the YOU.S. working data.
The rise above major altcoins led to speculation that the asset would surpass the $10 mark.
Chain link (LINK)
LINK is trading at $16.02, up 6.7% in the last 24 hours as broader crypto assets recover. Chainlink’s market capitalization is $9.4 billion, while trading volumes have risen to $448 million. Just like Uniswap, the weekly numbers are in the red zone following previous sell-offs. Assets have seen outflows of 9.5% in the last seven days, while monthly numbers have increased by 19%.
Solana (SUN)
Solana, popularly known for outperforming the market, gained 5% today, rebounding on recent inflows. Solana has also seen a rise in decentralized finance (DeFi) numbers. Solana price recovered $155 with a 1.5% jump in daily trading volumes. With a market capitalization of $71.5 billion, Solana’s growth continues to trigger bullish trends.
Solana meme coins are also marking huge gains in the market as the tokens take the form of frenzied Q1 inflows.
Read too: 3 meme coins with 300X potential post-CPI data
David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in learning about emerging technologies and keeps an eye on the latest news. Keeping up to date with trends, David has reported across multiple niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from financial markets, David rides his bike and horses.