XRP and Cardano tokens have been the top gainers among the top 10 coins by market capitalization over the past 24 hours. Bitcoin is trading above $90,000 as investor attention soars above $100,000.
XRP (XRP) and Cardano (ADA) tokens lead the top 10 coins by market capitalization in 24-hour gains.
At the time of writing, Ripple's XRP had risen more than 12% in the past 24 hours, with the price hovering around $0.90. Cardano rose 22% to trade around $0.68.
Interestingly, even though the Satoshi-era wallet sent 2,000 BTC to the exchange, the price of BTC remains close to $90,000.
A miner holding 2,000 $BTC ($180M) woke up after sleeping for over 14 years and transferred all 2,000 $BTC today.
This miner earned $2,000 BTC through mining in 2010 and has held onto it ever since! https://t.co/PBny3oXw2R pic.twitter.com/Kddhh3YvMY
— Lookonchain (@lookonchain) November 15, 2024
XRP and Cardano skyrocket
XRP price has surged over 64% in the past week. Meanwhile, in Friday afternoon US trading, ADA was trading near $0.68, with the Cardano token up more than 22% on the day, making it the biggest gainer among the top 10. ADA price rose 53% last week.
Bitcoin (BTC) is up 1.4% in the past 24 hours and 18% in the last week, continuing its upward trend since November 5, when the United States elected Donald Trump as the next president. Cardano and Ripple tokens have reflected this upward momentum, with altcoins generally benefiting amidst overall bullish sentiment.
“As stablecoins like USDT grow and flow into exchanges, market liquidity is improving. Since the US presidential election, $3.2 billion USDT has flowed into exchanges, and since November 2021, This is the highest net inflow. This increase in liquidity could signal an increase in crypto prices going forward,” noted analysts at on-chain data and analytics provider CryptoQuant.
Meanwhile, cryptocurrency exchanges' Bitcoin reserves have been decreasing in recent weeks. This is currently near the lows last seen in November 2018, suggesting a hold as the market has become very greedy.
According to market analysts, this sharp reduction in currency supply could create further buying pressure. Bitcoin is expected to explode above $100,000. Matthew Siegel, head of research at VanEck, said Bitcoin is only at the beginning of a bull market.
BTC recently rose to a high of over $93,000.
