Dogecoin jumps by 5%, Litecoin and Avalanche are up too – Crypto market overview
- Tokens like DOGE, ADA, VAX, LTC, and others have recorded significant gains in the latest price surge in the crypto market.
- The recent gains don’t mean the bearish situation is over, as the market is still far from entering a bullish rally.
The price of crypto assets is witnessing a boost, with some top coins rising in the past 24 hours. Despite their previous slumps, the two leading digital assets, BTC and ETH, are on a decent surge. At the time of writing, DOGE saw a massive 6.50 percent jump, with ADA recording a 2.60 percent rise, followed by LTC with 1.01 percent.
Also, AVAX is included in the party as it experienced a jump of 1.18 percent. A further evaluation of the price uptrend shows that BTC has increased by 1.1 percent over the past 24 hours, with Ethereum climbing by 2.5 percent within the same period. However, the Binance native token, BNB, also rose by 1.5 percent despite the fear, uncertainty, and doubt (FUD) that continues to surround the largest crypto exchange.
On the other hand, Ripple’s XRP spiked by 2.1 percent, with Polygon seeing a 2.8 percent rise in the latest price rally. Furthermore, the broader crypto market capitalization has recorded a slight increase of 1.3 percent in the past 24 hours and now stands at $844.86 billion. Additionally, the total trading volume for the crypto market soared compared to December 22, which currently stands at $38.09 billion.
Top Crypto Tokens by Trading Volume
The largest meme digital currency takes another step in its attempt to pull itself up by adding 2.5 percent over the past 24 hours. DOGE’s market cap currently stands at $10.225 billion. Per CoinMarketCap data, DOGE currently trades at $0.07707.
Cardano’s ADA has seen a price jump of 2.99 percent, with a current market cap of $8.91 billion. Moreover, the ADA token is changing hands at $0.2582 with a 24-hour trading volume of nearly $204 million.
For Litecoin, its LTC token recorded gains of 0.94 percent over the past 24 hours. Litecoin’s market cap currently stands at $4.71 billion. LTC’s 24-hour trading volume also surged and stood at $346 million, with the token currently trading at $65.58.
Avalanche’s AVAX token has had a relatively quiet year so far. However, the token has joined other assets in moving to the green zone by increasing to 2.33 percent over the last 24 hours. The token’s market capitalization stands at $3.67 billion. AVAX is up 2.33 percent over the last 24 hours and trades at $11.81.
Is the Bear Trend Over?
The latest price surge offers a significant boost to the market, considering the bearish trend that has enveloped the crypto space for most of the year. Meanwhile, the recent gains don’t mean the bearish situation is over. Given the current conditions, the market is still far from entering a bullish rally.
With the prices of most of the top crypto assets shrinking for most of 2022, it will take some time for prices to stabilize on a broader scale. Meanwhile, the latest price rally is exciting news for investors as it signifies the market is testing its way back to bullishness.
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