The crypto market witnessed a dramatic turnaround in the past 24 hours, fueled by a surge in altcoin prices. This positive shift follows the release of US Consumer Price Index (CPI) data indicating a potential slowdown in inflation. Both Bitcoin and altcoins have climbed, propelling the total market capitalization to $2.52 trillion, a healthy 3.45% increase within the last day.
Altcoins Take Center Stage:
While most top 20 altcoins experienced rebounds, some stand out with double-digit gains, exceeding the overall market recovery. This bullish sentiment has investors optimistic about a potential breakout above current resistance levels. Here’s a closer look at some of today’s top-performing altcoins:
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Uniswap (UNI): The native token of decentralized exchange Uniswap has seen a significant uptick in inflows compared to other leading altcoins. UNI surged an impressive 11% in the past 24 hours, reaching a price of $9.81. Though weekly figures remain negative, this recent spike has invigorated the Uniswap community, anticipating renewed interest in the platform.
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Chainlink (LINK): Trading at $16.02, LINK has gained 6.7% in the past day, mirroring the broader crypto market rebound. Chainlink’s market capitalization sits at $9.4 billion, with trading volumes surging to $448 million. Similar to Uniswap, LINK’s weekly performance remains negative due to prior market liquidations. However, monthly figures reflect a positive trend with a 19% increase.
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Solana (SOL): Renowned for its history of outperforming the market, Solana has gained 5% today, showcasing a strong rebound alongside recent positive inflows. DeFi activity on the Solana network has also seen an uptick. SOL’s price has reclaimed the $155 mark, with a 1.5% increase in daily trading volume. With a market capitalization of $71.5 billion, Solana’s growth continues to fuel bullish sentiment within the crypto market.
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