Cardano’s (ADA) gains of 15% over the last 24 hours have made it the top crypto coin by market capital gainer. Bitcoin’s price is also looking to the possibility of a new peak after reaching $77k.
Several altcoins are poised to take advantage of the upward momentum. Flare (FLR), Injective(INJ) and Internet Computer (ICP) are some of the most popular altcoins today.
This is a snapshot of the cryptocurrency market for November 8.
Bitcoin dominates the crypto market with 59.5%, a $2.55 trillion global cap and a volume of $134.6 Billion in 24 hours.
The global Fear & Greed Index has fallen to 72. This indicates that the crypto market is still optimistic.
Donald Trump’s shocking victory in 2024’s US elections remains the top crypto topic, and the bullish market is backed by Bitcoin’s recent surge above $77,000.
This year’s altseason is boosted by the Federal Reserve cutting interest rates 25 basis points on November 7.
Total liquidations for the last 24 hours total $262 millions. Coinglass shows that during the past 24 hours, 91 632 traders have been liquidated.
Cardano (ADA)
Cardano’s (ADA) price has jumped dramatically from a low $0.32 in November 5th to a maximum $0.45 Friday, 8th of November 2024.
Since Trump’s victory, the token pump has gained 27% over the last week. It also traded at 15% more in just 24 hours.
Cardano, according to analysts, could be a parabolic.
The ADA is still below its March highs, but it is also well above the July highs.
Flare (FLR)
The native token Flare (FLR), which is the layer 1-focused blockchain Flare’s data-focused counterpart, has also seen a surge in value on this day.
FLR hit a record high of $0.014.
Flare, whose price was up by 6% when this article was written, announced an important collaboration with Red Date.
Flare says that the partnership between Red Date and Flare will give users the first ever decentralized solution to know your customer.
Hong Kong users from Mainland China can use stablecoins to purchase tokenized assets anonymously through the pilot program.
Injective (INJ)
INJ was another altcoin that recorded notable gains on the Friday. Injective has seen its price rise from $16 down to $23 in the last week.
Injective announced a partnership in relation to the Artificial Superintelligence Alliance.
ASI has announced that it will deploy its Inter-Blockchain Communication channels (IBCs) on Injective. This is a crucial step in moving towards greater interoperability.
In the future, this should lead to a new age of on-chain financing powered by artificial intelligence. This will likely boost INJ.
The top performers on Friday
Cronos, Polygon, FLR and INJ are also among the altcoins that have gained most in market capitalization, alongside ADA, FLR and INJ.
Cronos (CRO), one of the first coins to rise, is now up by 20% and trading at $0.1087.
POL (ex MATIC) was hovering around $0.38, with an increase of +11%. The price of Arweave AR (also rose) to $18.05 (+8%), and Internet Computer ICP (up more than 6%) changed hands for $8.21.
The Solana-based company Drift (DRIFT), too, rallied and reached a record high.
The post Crypto Wrap: Cardano climbs as FLR, INJ and ICP Ride Bitcoin’s momentum will be updated with any new information.
