The market cap of the collective cryptocurrency market currently rose to $376 billion following the latest upsurge. As Bitcoin’s price action neared a step closer to the $12,000-mark, top altcoins also staged an upside alongside the king coin.
The fifteenth-largest cryptocurrency, Tron has been on a constant upward slope since the second week of August. One of the key developments that could have propelled the coin to aim for higher targets breaching crucial resistances along the way could be the strategic partnership with Waves to link DeFi services and solutions between the two blockchain communities.
At the time of writing, TRX registered a market cap of $2.14 billion and a 24-hour trading volume of $1.40 billion. In addition, the token was priced at $0.0298 after a surge of whopping 19.98% over the last 24-hours.
The dotted markers of Parabolic SAR below the TRX candles depicted a growing bullish momentum for the coin. backing up a positive sentiment was the RSI indicator which was in the overbought zone indicating a sentiment of buying pressure among the TRX traders.
As the Cardano headed towards its ultimate goal of full decentralization, the coin’s value was hovering close to a crucial resistance point despite limited price action. The highly anticipated Shelley launch and flurry of other developments under its hood has helped the blockchain’s native token ADA to retain its position as the ninth-largest cryptocurrency by market cap.
At press time, ADA stood at a market cap of $ 3.71 billion and a 24-hour trading volume of $347 million. It was up by 4.08% which drove the coin’s price $0.143.
The green closing bar of Awesome Oscillator sided with a bullish trend and a potential inflow of capital in the coin market following a brief decline. The Chaikin Money Flow indicator, however, was still in the bearish region.
With the ongoing DeFi craze, the Ethereum network has witnessed a significant upward swing in activity. This has resulted in a massive surge in daily transaction count closing just below its January 2018 all-time high. The increased network activity could essentially be a good long-term sign for Ethereum holders.
At the of writing, the second-largest cryptocurrency, ETH was valued at $428.6 after a minor appreciation of 0.89%. The coin recorded a market cap of $48.09 billion, and a 24-hour trading volume of $12.21 billion.
MACD underwent a bullish crossover depicting that ETH could be primed for more gains in the near future. The Klinger Oscillator, however, suggested bearish signs as the signal line hovered over it.