The cryptocurrency market experienced a notable surge on the last day as alternative coins erased earlier losses. Following the release of statistics from the Consumer Price Index (CPI) indicating declining U.S. inflation, opinions took a sharp turn. Thanks to the rise of Bitcoin and other cryptocurrencies, the value of the cryptocurrency market has increased to $2.52 trillion, a 3.45% rise in just one day.
The top 20 altcoins are seeing a resurgence. However, some assets are outperforming the others by double digits, while others have only had marginal increases. Cryptocurrency bulls generally rally behind their holdings, predicting a rise above the present barrier levels. These are the most popular cryptocurrencies available right now.
Uniswap (UNI)
Increased inflows over popular altcoins have been recorded for UNI, the token of Uniswap, a decentralized cryptocurrency exchange. The asset’s price increased to $9.81 on the last day after an 11% rise. Weekly numbers are still in the red zone. Still, the recent increase inspired the community, hoping for a resurgence of interest. Along with other cryptocurrency assets, UNI has dropped 10% this week. The U.S. job report last week caused sentiments towards cryptocurrency assets to plummet.
Rumours were that the asset might surpass $10 after rising over the top altcoins.
Chainlink (LINK)
LINK is trading at $16.02, up 6.7% over the previous day on a rebound in broader crypto markets. Market capitalization for Chainlink is $9.4 billion, while trading volume increased to $448 million. Similar to Uniswap, weekly figures from earlier liquidations are in the red. The last seven days saw a 9.5% outflow from the assets, compared to a 19% increase in monthly numbers.
Solana (SOL)
Solana, well-known for outperforming the market, is up 5% today due to new inflows. There has also been an increase in Solana’s decentralized finance (DeFi) data. Solana’s price rebounded to $155 as daily trading volumes increased by 1.5%. With a $71.5 billion market capitalization, Solana’s rise is stoking positive tendencies.
Solana meme coins also record significant market gains as tokens experience Q1 frenzied inflows.
