In a week filled with fervent market action, digital assets like BitcoinCash, Chainlink, Maker, and THORChain commanded the spotlight by registering remarkable double-digit increases in market capitalization. This rally, which held the crypto community in suspense, was marked by a positive sentiment as major players accumulated substantial holdings of Bitcoin (BTC) and Tether (USDT), igniting optimism for a continued surge into the month of October.
In a tweet by Santiment, the prominent crypto analytics source, showcased the notable cryptocurrencies like Bitcoin Cash, Chainlink, Maker, and THORChain exhibited double-digit market cap rises during a bullish week for crypto, with.
📈 #BitcoinCash (+13%), #Chainlink (+15%), #Maker (+13%), and #THORChain (+14%) are notables that saw double digit market cap rises during a positive week for #crypto. We are seeing accumulation from big $BTC & $USDT wallets, indicating this rally can continue into October. pic.twitter.com/SyeZEndoZv
— Santiment (@santimentfeed) September 30, 2023
BitcoinCash (BCH) Takes the Lead with a 13% Surge
Among the frontrunners, BitcoinCash (BCH) displayed a notable 13% increase, capturing the attention of traders and investors alike. This surge in BCH’s value was a testament to the newfound confidence in the crypto market, signaling a potential reversal from the previous bearish trends.
Bitcoin Cash (BCH) is currently trading at $234.91, marking a modest increase of 0.64% over the last 24 hours. With a market capitalization of approximately $4.59 billion, BCH holds the 16th position among cryptocurrencies by market cap. Over the past 24 hours, Bitcoin Cash has experienced a trading volume of approximately $215.85 million.
Chainlink (LINK) Soars with a 15% Gain
Chainlink (LINK) joined the bull run, achieving an impressive 15% gain in market capitalization. LINK’s ability to outperform expectations highlights the growing interest in decentralized oracles and smart contracts, further solidifying its role in the crypto ecosystem.
Chainlink (LINK) has experienced a notable surge in its price over the last 24 hours, rising by 4.52% to reach $8.1063. This upward movement demonstrates a positive sentiment in the market. With a market capitalization of approximately $4.51 billion, LINK currently holds the 17th position among cryptocurrencies by market cap. The trading volume for LINK in the past day has reached around $255.62 million, representing 17.70% of its market capitalization, which indicates a substantial level of market activity and interest.
Maker (MKR) Sees a 13% Rise
Maker (MKR) exhibited a 13% increase in its market cap, reinforcing its reputation as a pioneer in the DeFi space. Its steady ascent suggests that the demand for decentralized finance solutions remains robust.
Maker (MKR) has witnessed a substantial price increase in the past 24 hours, rising by 4.73% to reach a value of $1,477.01. This positive momentum reflects a favorable sentiment in the market. In terms of market capitalization, Maker holds a position at #33 among cryptocurrencies, with a market cap of approximately $1.44 billion. The trading volume for MKR over the last day stands at around $107.69 million, representing 0.80% of its market cap.
THORChain (RUNE) Climbs 14% Higher
THORChain is also on the line, recording a remarkable 14% gain in market capitalization. RUNE’s ascent underscores the growing interest in cross-chain liquidity and decentralized exchange solutions.
THORChain’s native token, RUNE, has shown positive momentum in the past 24 hours, with its price rising by 2.41% to reach $1.9659. While it might not be among the top cryptocurrencies in terms of market capitalization, RUNE has still managed to secure a spot at #51 with a market cap of approximately $660.50 million. The trading volume for RUNE over the last day has amounted to roughly $63.58 million, accounting for 9.22% of its market cap, indicating moderate market activity and interest.
Accumulation by BTC and USDT Wallets Fuels Optimism
The market’s optimism is further fueled by substantial accumulation witnessed within Bitcoin (BTC) and Tether (USDT) wallets held by major players. This accumulation signals a strong belief in the ongoing rally’s sustainability, and a potential push towards even greater heights in the coming weeks.
The crypto market’s recent performance demonstrates its resilience and ability to defy bearish sentiments. Moving to October, the focus remains on these leading assets, their potential for further gains, and the positive sentiment that continues to define the crypto landscape. With the broader financial world paying closer attention to the crypto space, it will be intriguing to see how these digital assets evolve and what opportunities and challenges lie ahead.
