Altcoins
These Altcoins Outpace Crypto Market Rebound
The crypto market saw a significant jump over the past 24 hours, with altcoins erasing previous losses. This change in sentiment comes after the release of Consumer Price Index (CPI) data showing a slowdown in inflation in the United States. Bitcoin and altcoins rose, bringing the crypto market cap to $2.52 trillion, an increase of 3.45% over the past 24 hours.
Altcoins in the top 20 are rebounding, but some assets are surpassing the maker with double digits while others have seen slight gains. Overall, crypto bulls are rallying into their assets, projecting a bounce above current resistance levels. Here are the best altcoins in the crypto market today.
Uniswap (UNI)
UNI, the decentralized crypto exchange token, Uniswap has seen an increase in flows compared to top altcoins. The asset surged 11% in the last 24 hours, pushing its price to $9.81. Although the weekly numbers remain in the red zone, the recent rise has rallied its community, anticipating renewed interest. UNI is down 10% this week, along with other crypto assets. Last week, crypto assets recorded a drop in sentiments after the U.S. employment data.
The rise above the top 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 past 24 hours as broader crypto assets rebound. Chainlink’s market capitalization stands at $9.4 billion while trading volumes jumped to $448 million. Like Uniswap, the weekly numbers are in the red zone after previous selloffs. Assets have seen outflows of 9.5% over the past seven days while monthly figures are up 19%.
Solana (SOL)
Solana, known for outpacing the market, gained 5% today, rebounding with recent inflows. Solana also saw an uptick in decentralized finance (Challenge) Numbers. Solana price regained $155 with a 1.5% rise in daily trading volumes. With a market cap of $71.5 billion, Solana’s growth continues to spark bullish trends.
Solana meme coins are also marking huge gains in the market as the tokens form frenzied Q1 inflows.
Read also: 3 Meme Coins with Potential Post-CPI 300X Data
David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in emerging technologies and has an eye for the latest news. Staying on top of trends, David has worked across several niches including regulation, partnerships, crypto assets, stocks, NFTs, and more. Far from the financial markets, David goes cycling and horse riding.