AVAX and SHIB Lead Market Recovery; ADA Overtakes ETH in Transaction Volume
- Shiba Inu surged by over 12% over the previous days in its top 10 race even as the 16% increase by Avalanche threatens to overtake SHIB.
- Cardano overtook Ethereum in transaction volume even with the 4% gain by Ether.
Indeed, Shiba Inu has seen remarkable performance over the past day, leading the crypto market recovery, keeping pace with the top ten digital coins. The meme cryptocurrency saw its value rising by 12.5% while its volume soared, its market capitalization surging towards $26.8 billion. Meanwhile, Avalanche remained the best performer in the large-cap assets, jumping by 16% as the overall market increased $90 billion amid market-wide recovery.
Though SHIB flashed gains over the past day, it hasn’t had the best in the last seven days, dropping 6% of its price since Monday. Meanwhile, the recent upswings had SHIB making it to this year’s crypto to watch, surging 12.5% to hover at $0.00004886.
The Dogecoin competitor also saw its volume increasing by 4%, touching $4billio, the 6th-largest in the space after the Tether, Bitcoin, Ethereum, USD Coin, and Binance USD.
SHIB has been the biggest gainer this year, leading SOL and LUNA in 2nd and 3rd, respectively. The meme crypto rose by more than 70,000,000% YTD, high than Solana (+12,000%) and Terra (+7,000%).
Bitcoin nearly doubled, while ETH increased fivefold and ADA 10X. XRP has also surprised market players, surging over 400% this year, regardless of the ‘unending’ SEC lawsuit.
Cardano Flip-flops Ethereum Transactions
Most crypto projects measure their success against Ethereum, as it is the leading altcoin. Friday had Cardano flipping Ethereum in daily transactions, a massive achievement by Charles Hoskinson’s project.
However, ADA is yet to see massive price gains despite on-chain activity increase. Though the brief upswing over the previous day, Cardano is still down 10% over the past seven days. At this publication, ADA has its value at $1.87, standing 32% lower from its all-time peak recorded nearly three months ago. On the other side, Ethereum gained 3.6% in 24 hours to stand at $4,291 with its market capitalization above half a trillion, Ether becoming bigger than Walmart, VISA, and JPMorgan.
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