Altcoins SATS, Aave, Monero and ORDI have all surged by more than 10% in the past day, making them the biggest gainers on the crypto market, while Bitcoin, the top cryptocurrency by market cap, has risen by more than 4% in the same period.
knowledge
On July 26th, SATS (1000SATS) was the top gainer among stocks with the highest rate of increase.
At the time of writing, the cryptocurrency is up 18.5% over the past 24 hours and trading at $0.00033. Daily trading volume on SATS has also increased 18.4% to hover around $202.6 million.
The meme token’s market cap currently stands at $695.6 million. However, the token’s value remains 64% below its all-time high of $0.00093, which it reached on Dec. 26, 2023.
SATS is a BRC-20 token created to honor Bitcoin's anonymous inventor, Satoshi Nakamoto. The name SATS refers to the smallest unit of Bitcoin, a Satoshi (equivalent to 0.00000001 BTC).
Developed by an anonymous team, SATS embodies a light-hearted approach in the cryptocurrency space, highlighting the cultural and historical significance of Bitcoin's smallest unit.
Ave
Aave (AAVE) has seen a 10% increase in price over the past day and is trading at $102.6 at the time of writing. During the same period, the crypto asset's daily trading volume has hovered around $240.5 million.
Aave’s market cap of $1.52 billion makes it the 55th largest crypto asset. The token is still 84% below its all-time high of $666 reached on May 19, 2021.
Aave is a decentralized finance protocol that allows users to lend and borrow cryptocurrencies and real-world assets without relying on a centralized intermediary.
The platform has its own cryptocurrency, AAVE, which acts as a governance token. AAVE holders can vote on Aave's development proposals and earn staking rewards by locking their tokens into the system. Additionally, Aave issues aTokens to lenders, allowing them to earn interest on their deposits.
Monero
Monero (XMR), a privacy-focused peer-to-peer digital currency, is still trading at $168.7, up 8.5% over the past 24 hours.
With a market capitalization of approximately $3.11 billion, Monero ranks 27th in the world's cryptocurrency rankings by market capitalization, with a daily trading volume of approximately $129.5 million as of press time.
Monero is a cryptocurrency that values privacy and confidentiality. Unlike most cryptocurrencies that value transparency and security, Monero adheres to the principles of anonymity, which sets it apart from well-known transparent blockchains such as Bitcoin and Ethereum.
Monero ensures user anonymity through technologies such as ring signatures, stealth addresses, and Ring Confidential Transactions (RingCT). These features make all users on the Monero network anonymous by default, hiding information about senders, receivers, and transaction amounts.
Oldie
Ordi (ORDI) has seen its price rise by 11.6% over the past day and is trading at $38.5 at the time of writing. During the same period, the crypto asset recorded a trading volume of $165 million.
ORDI’s market capitalization stands at $809 million, making it the 83rd largest crypto asset. The token is still 60% below its all-time high of $96, reached on March 5, 2024.
ORDI is a meme coin on the Bitcoin network and the first BRC-20 token created using the Ordinals protocol.
Developed by software engineer Casey Lodermore, the Ordinals protocol allows data like text, images, audio and video to be written directly into each satoshi, the smallest unit of Bitcoin. The technology enables new uses for non-fungible tokens (NFTs) and other tokens on the Bitcoin blockchain.
ORDI has a fixed supply of 21 million tokens and acts as a fungible and transferable asset within the BRC-20 ecosystem.
Bitcoin leads market recovery 4% increase
The surge in these altcoins follows Bitcoin (BTC) rising 4.5% the previous day to hit $66,968 on Friday, July 26. Bitcoin's 24-hour low was $63,506 and its 24-hour high was $67,338. The world's oldest and most valuable cryptocurrency recovered from losses to surpass the $66,000 level for the first time this week.
Other popular altcoins such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL) and Litecoin (LTC) experienced small fluctuations in gains and losses. According to data from CoinMarketCap, the overall Market Fear and Greed Index was 59 out of 100 (neutral).
At the time of writing, the global cryptocurrency market capitalization is $2.39 trillion, up 3.41% in 24 hours.
