Skip to main content

Cardano and Avalanche Soar, Outperforming Top 20 Cryptos in Weekly Surge

Cardano and Avalanche Soar, Outperforming Top 20 Cryptos in Weekly Surge

Market statistics indicate that two specific crypto assets among the top 20 in market capitalization, avalanche and cardano, have experienced substantial gains this past week. Avalanche has surged 48.7% and cardano has increased by 50.4% against the U.S. dollar in the previous seven days.

Top Performers of the Week: Cardano and Avalanche Record Substantial Rises

Currently, the 11,380 crypto assets listed on 940 crypto exchanges hold a collective value of $1.71 trillion. Among the top 20 tokens, bitcoin (BTC) rose 10.2% this week, and ethereum (ETH) saw an 8.3% increase. It was cardano (ADA) and avalanche (AVAX) that stood out, as both coins recorded double-digit gains against the U.S. dollar.

ADA is up 50.4% after reaching a high of 63 cents on Dec. 9, 2023. Over the past month, ADA has climbed 60.4%, and in the last year, the token has increased 89.1% against the dollar. Cardano’s market capitalization is approximately $20.75 billion, placing it ninth among the top ten cryptocurrencies.

In the last day, ADA has seen $1.39 billion in 24-hour trade volume. While ADA is up 89.1% for the year, the crypto asset is still down more than 80% from its all-time high. On Sept. 2, 2021, it reached $3.09 per coin, and today, it is trading at 59 cents per unit. Cardano is up 2,964% from its price of about 1.9 cents recorded three years ago.

Avalanche (AVAX) has increased 48.7% against the dollar this week, and with a market capitalization of $12 billion, it is the 11th largest crypto asset in terms of overall valuation. It is down from the recent high of $33.98 recorded on Dec. 9, 2023, currently exchanging hands at $33.15 per AVAX. The crypto asset has seen significantly larger gains than ADA over a 30-day timeline, jumping 149%.

Over the past year, AVAX is up 146.5% against the dollar. Meanwhile, AVAX is still down more than 77% from its all-time high price recorded on Nov. 21, 2021. At that time, AVAX was trading at $144.96 per unit. AVAX is up 1,067% from its all-time low of $2.80 on Dec. 31, 2020. In the past 24 hours, avalanche has seen around $1.13 billion in global trading volume.

What do you think about the gains ADA and AVAX have seen? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/kTlJxP9
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more