Coin Edition -
- The global cryptocurrency market cap rose more than 4% to above $1.6 trillion over the past 24 hours.
- BTC, SOL, and ADA all saw their prices jump throughout the last day of trading.
- ADA was the best daily and weekly performer in the top 10 list and could continue climbing in the short term.
The entire cryptocurrency sector surged over the past 24 hours. Data from the market tracking website CoinMarketCap indicated that the market’s collective valuation stood above $1.6 trillion. This was after it registered a 4.10% uptick throughout the past day of trading. During this period, the prices of Bitcoin (BTC), Solana (SOL), and Cardano (ADA) jumped.
Daily chart for BTC/USD (Source: TradingView)
The market leader was up more than 4% at press time. This 24-hour gain resulted in BTC changing hands at $42,812.95. Despite the positive daily performance, the cryptocurrency king was still down 2.74% over the past 7 days.
Daily chart for SOL/USDT (Source: TradingView)
SOL, on the other hand, was able to outperform BTC with its 7.98% increase in price. This pushed the altcoin’s weekly performance further into the green zone to +12.21%. Overall, SOL’s price stood at $71.24 at press time.
SOL was also able to make it into CoinMarketCap’s trending list. At press time, it occupied the number 3 position. This ranked it behind Bonk (BONK) and Nerd Bot (NERD).
It was ADA that stood out from the pack with its impressive 24-hour performance. CoinMarketCap data indicated that ADA was the top performer in the top 10 list by a convincing margin after it recorded a 16.29% gain. The altcoin was the best performer in the top 10 list on the weekly time frame as well. Subsequently, ADA was changing hands at $0.6533.
At press time, ADA was up 44.64% over the past 7 days. This was slightly better than the weekly performance of Avalanche (AVAX), whose weekly performance stood at +43.18%.
Daily chart for ADA/USDT (Source: TradingView)
ADA was also able to break through the key $0.5940 resistance level with its latest surge. Overcoming this significant price point has cleared a path for the altcoin to potentially climb to the next major resistance level at $0.7425 in the coming few days.
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