The market of Crypto currency rose across board with altcoins that lead the charge. This is the sign about strong appetite of risk. The markets of Crypto currency are floating with altcoins that lead the charge. With the rally of US tech stock, weaken US dollar with reversal and lower in the US yields help to boost the sentiment.
However, traders must caution this against declaring the victory, with Fed yet moving in the hawkish direction.
Overview of Crypto Market
The market is floating, with total capitalization of crypto market that is rising over last 24 hours. However, two biggest cryptocurrencies through market cap, ethereum and bitcoin were up. This is with the earlier one hitting the highest level mark.
On the other hand, ethereum so far has been not able to break the important and crucial short-term level for support. This has turn the level of resistance. In the meantime, it is the sign of strong risk appetite of crypto market. Various key altcoins saw some of the substantial outperformance against likes of ethereum and bitcoin.
LUNA and SOL, the native tokens for Terra and Solana blockchains, are last up in previous 24 hours. The SOL/USD is last trading which is below $110 per token & with the eyeing some kind of breakout towards the 21-Day of Moving Average. On the other hand, LUNA/USD is the last trading over and eyeing the test of level for $100.
In a different place, Dogecoin is up 3.8%, Polkadot that was also last upto 6.0%, Polygon even high up 3.3% & Cronos also last up 3.2% during previous 24 hours.
In the meantime, other key altcoins Avalanche, Shiba Inu and Cardano are all trading through slightly modest gains. Few other prominent altcoin movers in previous 24 hours that consist of ApeCoin, they soured 34% on the anticipation which will be defacto payment mechanism.