Two Top Cryptocurrencies On the Rise Late Sunday
It was a big Sunday for the top two cryptocurrencies, Solana and Cardano, as both saw a huge jump in price late in the day. Both coins reached monthly highs, with Solana up 21% and Cardano up 21% as well. This surge of growth could signal a major shift in the crypto markets, as investors are beginning to take notice of these top coins. In this blog post,
Solana and Cardano both up 21% late Sunday
Cryptocurrency markets saw a major uptick on Sunday evening, as two of the top crypto coins, Solana and Cardano, both surged over 21% in value. The two altcoins set monthly highs, with Solana closing at $29.92 and Cardano ending the day at $2.06.
The gains come as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and EOS all saw declines in the market. Bitcoin dropped 1.5%, while Ethereum dropped 2.5%. Litecoin fell 4%, while Bitcoin Cash and EOS dropped 3.8% and 7.5%, respectively.
However, Binance Coin was up 5.5%, and Polkadot rose 4.5%. This surge in crypto prices led to a combined increase in the overall cryptocurrency market cap of $40 billion in just 24 hours.
Overall, it appears that investors are becoming more optimistic about the potential of altcoins, as they search for higher returns in a volatile market. While the gains may not be long lasting, it is clear that investors have not given up on cryptocurrencies entirely.
Bitcoin down 1.5%, Ethereum down 2.5%
On Sunday, the cryptocurrency market saw a major surge, with some of the top coins experiencing large gains. However, not all cryptos had such luck. Bitcoin, the world's largest cryptocurrency by market capitalization, fell 1.5%, while Ethereum, the second-largest crypto, dropped 2.5%. This could be due to investors taking profits from the higher-risk assets that have been rising in value and reallocating their funds into the safer, more established currencies.
The rest of the top 10 were also down, with Litecoin, Bitcoin Cash, and EOS each losing around 3%. Binance Coin was the lone gainer among these coins, posting a 5.5% increase. Polkadot was also up 4.5%, likely due to the recent news that it will soon be listed on Coinbase Pro.
Despite the declines in some of the major cryptocurrencies, the total crypto market cap increased by $40 billion in the last 24 hours. This is likely due to investors piling into smaller altcoins, which have seen some incredible growth over the past few weeks. It remains to be seen if this trend will continue in the coming days.
Litecoin, Bitcoin Cash, and EOS also down
The recent surge of activity in the cryptocurrency market did not extend to Litecoin, Bitcoin Cash, and EOS. These three coins were all down on Sunday, although their losses were far less than those of Bitcoin and Ethereum.
Litecoin was down 0.25%, Bitcoin Cash was down 1.2%, and EOS was down 0.8%. All three of these coins have been volatile in recent weeks, with wild price swings that have been both positive and negative.
Despite this lack of participation in the recent surge, investors remain hopeful that these coins will eventually catch up. Litecoin in particular is a favorite amongst crypto traders, as it is seen as a more stable asset compared to other cryptocurrencies.
Ultimately, the decline in Litecoin, Bitcoin Cash, and EOS may be temporary. With the overall market looking bullish and other coins surging, these coins could soon join the party and start rising as well.
Binance Coin up 5.5%, Polkadot up 4.5%
Late Sunday, the crypto market saw two of the largest coins, Solana and Cardano, surge 21%, setting monthly highs for both. However, other major currencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and EOS all dropped in value in the same 24 hour period.
In spite of the overall dip, two currencies in particular had a good day: Binance Coin (BNB) and Polkadot (DOT). BNB increased by 5.5% while DOT climbed 4.5%. This brings BNB’s market cap to over $30 billion and DOT’s market cap to nearly $23 billion.
The rise in both coins demonstrates that investors are still confident in the crypto market despite its recent dip. Combined with the gains made by Solana and Cardano, the total crypto market capitalization increased by $40 billion in the past 24 hours, which is a positive sign of things to come.
Crypto Market Cap up $40 Billion in 24 Hours
The crypto market capitalization surged $40 billion in the past 24 hours, led by gains from major cryptos like Solana and Cardano. According to CoinGecko, the total market capitalization of all cryptocurrencies hit a monthly high of $1.8 trillion on Sunday, with a 24-hour gain of 2.29%.
The surge in market cap was largely driven by two of the largest cryptos - Solana and Cardano - both of which had impressive performances late Sunday. Solana was up 21% to a new all-time high of $34.47, while Cardano climbed 21.3% to an intraday high of $1.59.
In contrast, Bitcoin was down 1.5%, Ethereum down 2.5%, Litecoin down 0.5%, Bitcoin Cash down 1%, and EOS down 1%. Other top cryptos saw mixed performance as well, with Binance Coin up 5.5% and Polkadot up 4.5%.
The massive surge in crypto market capitalization has been largely attributed to increasing institutional interest in the space. Analysts believe that this is only the beginning of what could be a long bull run for the crypto market, as more investors are looking to add digital assets to their portfolios.