Cryptocurrencies rise again Solana (SOL) and Cardano (ADA) lead within the TOP-10 - Crypto Economy

Despite taking a considerable dip yesterday, cryptocurrencies reclaimed the bullish trend once again today. A high percentage of people believe that the decline was followed as a result of new policies for banks. Similarly, some believe that the decrease in price of US stocks resulted in a similar trend for cryptocurrencies as well. The correlation with US stocks further strengthened today as cryptocurrencies went back up due to the positive activity on the US stock exchange.

So far, 2023 has been a delightful year for cryptocurrencies in the market. Investors initially believed that the crypto winter would stay for an extended period of time. Keeping in mind how cryptocurrencies have shot back up, many investors have regained their confidence. It is expected that these cryptos might dip a few more times any time soon before they’re on their way back toward proper recovery. 2022 was a devastating year for the crypto market and other crypto-based firms. Not only did these firms have to cut the employee force, but some of them had to file for bankruptcy as well. The current positive scenario must just be enough to help the crypto market leave previous disasters in the past.

Cardano (ADA) and Solana (SOL) have displayed an impressive increase just like the other cryptocurrencies. As a result, they have set foot within the top 10 cryptos based on trading volume.

major Cryptocurrencies on the Rise

As of now, Cardano (ADA) has witnessed an increase of almost 4.24% in the previous 24 hours. Similarly, the token is trading for approximately $0.3740 at the time of writing. Keeping the trading price in mind, Cardano (ADA) has a total market cap of $12 billion. The increase in the price of the token can be associated with the announcement of Cardano’s stablecoin, DJED. The token is scheduled to be released by next week.

Solana (SOL) has also been making decent moves in the crypto market. At the time of writing, Solana (SOL) is trading for approximately $24.31. Furthermore, the token has witnessed a surge of nearly 2.27% in the time frame of the previous 24 hours. apart from that, Solana (SOL) currently has a total market cap of $9 billion.