Altcoin
These altcoins are outpacing the cryptocurrency market recovery
The cryptocurrency market has seen a significant jump in the last 24 hours as altcoins have erased previous losses. The swing in sentiment comes after the release of consumer price index (CPI) data showing cooling inflation in the United States. Bitcoin and altcoins moved higher bringing the cryptocurrency market capitalization to $2.52 trillion, up 3.45% in the last 24 hours.
Altcoins in the top 20 mark a rebound, however some assets are outperforming the producer by double digits, while others have recorded slight gains. Overall, cryptocurrency bulls rally behind their assets, projecting a bounce above current resistance levels. Here are the best altcoins in the cryptocurrency market today.
Uniswap (UNI)
UNI, the token of decentralized cryptocurrency exchange, Uniswap has seen an increase in inflows compared to major altcoins. The asset has risen 11% in the past 24 hours, pushing its price to $9.81. Although weekly data remains in the red zone, the recent spike has rallied the community in anticipation of renewed interest. UNI fell 10% this week along with other crypto assets. Last week, crypto assets saw a collapse in sentiment following the crisis U.S. work data.
The rise against top altcoins led to speculation that the asset would surpass the $10 mark.
Shirt (LINK)
CONNECTION trades at $16.02, up 6.7% over the past 24 hours as broader crypto assets rebound. Chainlink’s market capitalization stands at $9.4 billion, while trading volumes rose to $448 million. Like Uniswap, weekly numbers are in the red zone after previous liquidations. Assets have seen outflows of 9.5% over the past seven days, while monthly figures have increased by 19%.
Solana (SOL)
Solana, popularly known for outperforming the market, gained 5% today rebounding with recent inflows. Solana has also seen a rise in decentralized finance (DeFi) numbers. Solana price regained $155 with a 1.5% increase 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 shape from the frenetic inflows of the first quarter.
Read also: 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 has an eye for the latest news. Staying up to date on trends, David has reported in several niches including regulation, partnerships, cryptocurrencies, stocks, NFTs, etc. Away from the financial markets, David cycles and rides horses.