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SATS, Aave, Monero, ORDI Soar Over 10% After Bitcoin Jumps 4%
Altcoins SATS, Aave, Monero, and ORDI have all surged more than 10% over the past day, ranking as the top gainers in the cryptocurrency market, while Bitcoin, the largest cryptocurrency by market cap, has jumped more than 4% in the same time frame.
SAT
SAT (1000 SAT) was the top gainer among companies on July 26.
At the time of writing, the cryptocurrency was still up 18.5% over the past 24 hours, trading at $0.00033. SATS’s daily trading volume is also up 18.4%, sitting at around $202.6 million.
1000SATS 24-hour price chart | Source: CoinMarketCap
The meme token’s market cap is now $695.6 million. However, the token’s value remains 64% below its all-time high of $0.00093, reached on December 26, 2023.
SATS is a BRC-20 token created to honor Satoshi Nakamoto, the pseudonymous inventor of Bitcoin. The name SATS refers to satoshi, the smallest unit of Bitcoin, equivalent to 0.00000001 BTC.
Developed by an anonymous team, SATS embodies a lighthearted approach to the cryptocurrency industry, highlighting the cultural and historical importance of the smallest unit of Bitcoin.
Ave
Hail (AAVE) has seen a 10% increase in price over the past day, trading at $102.6 at press time. Over the same time frame, the cryptocurrency’s daily trading volume has hovered around $240.5 million.
AAVE 24-hour price chart | Source: TradingView
Aave’s market cap is $1.52 billion, making 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 having to go through a centralized intermediary.
The platform has its own cryptocurrency, AAVE, which serves as a governance token. AAVE holders can vote on Aave 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
Currency (XMR), a privacy-focused peer-to-peer digital currency, is still up 8.5% over the past 24 hours and is trading at $168.7.
XMR Price Chart 24 Hours | Source: CoinMarketCap
With a market capitalization of approximately $3.11 billion, Monero It ranks 27th in the world cryptocurrency rankings by market capitalization and, at the time of publication, has a daily trading volume of approximately $129.5 million.
Monero is a cryptocurrency that focuses on privacy and confidentiality. Unlike most cryptocurrencies that emphasize transparency and security, Monero supports the principles of anonymity. This distinguishes it 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 every user on the Monero network anonymous by default, hiding information about the sender, recipient, and transaction amount.
ORDERS
Orders (ORDERS) has seen a price increase of 11.6% over the past day, trading at $38.5 at press time. Over the same time frame, the cryptocurrency has recorded a trading volume of $165 million.
ORDI 24 hour price chart | Source: TradenView
ORDI’s market cap is $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.
The Ordinals protocol, developed by software engineer Casey Rodarmor, allows data such as text, images, audio, and video to be directly inscribed onto each satoshi, the smallest unit of Bitcoin. This technology has enabled new uses for non-fungible tokens (NFTs) and other tokens on the Bitcoin blockchain.
ORDI has a fixed supply of 21 million tokens and functions as a fungible and transferable asset within the BRC-20 ecosystem.
Bitcoin leads market recovery with a 4% jump
The surge of these altcoins followed that of Bitcoin (BTC) Increased 4.5% from the previous day, reaching $66,968 on Friday, July 26. Bitcoin’s 24-hour low was $63,506, while its high was $67,338. The world’s oldest and most valuable cryptocurrency has recovered from its losses, surpassing the $66,000 mark for the first time this week.
Other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (Exchange rate risk), Solana (SOL), and Litecoin (LTC), saw small fluctuations in gains and losses. The overall Market Fear & Greed Index stood at 59 (neutral) out of 100, according to CoinMarketCap data.
At the time of writing, the global cryptocurrency market cap was $2.39 trillion, up 3.41% in 24 hours.