Cardano (ADA) and Dogecoin (DOGE) have made rapid strides in the crypto market. The last 24 hours have been interesting for the crypto market as prices have bounced across the board after a rally. Top coins like Bitcoin and Ethereum have seen huge price increases so far. It has added over $1 billion to the entire crypto market cap in just 24 hours.
As the run-up continues, altcoins such as ADA and DOGE continue to show tremendous market movements. Both digital currencies have gained more than 10% in price and continue to cruise higher as investors return to the market. Bull traders have now taken over the market as the bears record mounting losses.
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Short liquidations across markets have surpassed $1 billion, with Dogecoin having the fourth largest ever liquidations in the market. Altcoins are continuing a correction trend as most of the market turns green in this surprising turn of events this week.
Dogecoin, Cardano continue uptrend
Dogecoin continues to lead the charge so far, posting a 13% price increase over the past 24 hours. DOGE that continued to see the downtrend as hype around coin
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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>Coin and ‘dogfather’ Elon Musk died, now he’s out of that rut Which seemed to have stuck for the better part of the past week.
DOGE price broke above $0.20 from $0.195 and sat at the current price of $0.2244 where it is currently trading.
Crypto market gains over $1 trillion in 24 hours | Source: Crypto Total Market Cap on TradingView.com
As the current rally continues, Cardano[एडीए]has continued to gain over 11%. The digital asset which was trading for $1.20 had a tremendous rise, taking the price to $1.32 in a matter of hours.
Both the digital currencies continue to show double-digit price gains in the market. Dogecoin’s market cap now stands at $29 billion as Cardano market cap has put it at $43 billion.
Bullish News Moving Up the Crypto Market Cap
More support has emerged for bitcoin and other cryptocurrencies in the past week. News such as billionaire Elon Musk confirming that Tesla and SpaceX have bitcoin on their balance sheets has proven very bullish. The market showed positive sentiment as the price of bitcoin rose after the announcement. There was a break above $32,000 and maintaining a momentum that saw the price move above $34,000.
Related Reading | SpaceX Has Bitcoin on its Balance Sheet, Elon Musk
At the same conference, Musk confirmed that he personally held Bitcoin, Ethereum and Dogecoin. Proving that the billionaire never sold his wealth in a meme coin
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” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin. Musk also confirmed that he could pump coins, but he did not own coins. has never been dumped.
On its heels came hot news that Amazon was working towards integrating bitcoin into its platform. With cryptocurrency being speculated to be the payment method for the e-commerce giant, sentiments have risen in favor of the crypto market and as such, investors have returned to the crypto space with renewed vigor.
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On Sunday, after rumors spread that an insider at the e-commerce giant confirmed the integration of the cryptocurrency, the price surged as the weekend drew to a close.
So far, the crypto market has seen continued support as the cryptocurrency continues to maintain its attainable value, and charts remain in the green throughout the market. Dogecoin and Cardano continue to top the list of gainers in the market.
Featured image from Nairametrics, chart from TradingView.com