Thursday, October 5, 2023

Altcoins Skyrocketed


While digital currency markets improved slightly on Sunday, the $2.21 trillion cryptocurrency market capitalization has decreased 9.79 percent from $2.45 trillion since September 6, 2021.

While the two most popular cryptocurrencies, bitcoin, and Ethereum, have lost between 8 and 12 percent over the previous week. Several other digital assets have enjoyed double-digit weekly rises and in the last 24 hours, a double-digit percentage spike.

Cryptocurrency Gainers

Bitcoin’s (BTC) price has fallen by 8% in the last seven days, while Ethereum’s (ETH) price has fallen by 12%. Cardano (ADA) fell 4% during the previous seven days, while Binance Coin (BNB) fell more than 16%.

XRP, the top-ten crypto asset, saw its market cap fall by about 11.6 percent this week. While dogecoin (DOGE) fell by 18.2 percent. Solana (SOL), was up more than 26% this week. Polkadot (DOT), was up of 5.5 percent. These are the only two crypto assets in the top ten rankings.

Solana and Polkadot are among a growing group of decentralized finance (defi) currencies and Ethereum (ETH) competitors. Elrond (EGLD) increased 27.5 percent in the last 24 hours and is now up 70.2 percent for the week.

Osmosis (OSMO) is up 24.5% today and 57.5% over the last seven days. Tron (TRX) increased by 20.5 percent in 24 hours on Sunday. While Cosmos (ATOM) gained 20.1 percent in a single day. Avalanche (AVAX) is up 16.1 percent in the last 24 hours, while AVAX is 32.3 percent this week.

Tether Controls the Weekend’s Highest Cryptocurrency Trade Volume

Another strong performer this weekend is algorand (ALGO). Which is up 14% year to date, while Polkadot (DOT) is trailing ALGO. Sushi (SUSHI) on the Sushiswap decentralized exchange (dex) platform is up 7.4 %, while Kusama (KSM) is up 10% today.

In contrast, sales of sushi have fallen by 13% in the last week. On Sunday, Solana (SOL) was the third-largest loss, losing 5.6 percent of its value. Both fantom (FTM) and icon (ICX), which plunged 6.2% on Sunday, have lost the majority of their fiat value over the weekend.

According to coin market cap aggregators, it is estimated that the entire trade volume of all 10,000+ crypto-assets currently in existence is $118 billion. The stable cryptocurrency tether (USDT) has the largest volume in trade volume, with $61.8 billion in swap transactions.

Bitcoin (BTC) is currently worth approximately $27.3 billion. While Ethereum (ETH) is worth roughly $18.1 billion at the time of writing. Cardano (ADA) is the fourth most active cryptocurrency in terms of 24-hour volume. It has an approximately $6 billion in global swaps with ADA. Finally, according to data from Bloomberg, BNB has gathered a global transaction volume of $4.6 billion in the last 24 hours.

Miguel Garcia
Miguel Garcia
Miguel Garcia is a writer for Cryptoconstellation. Miguel has always been fascinated with Crypto. He has experience in Business and finance. Miguel loves sport cars and football.

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