The cryptocurrency market changed direction on Saturday, October 7, moving into positive territory and recouping recent losses. This upsurge, however, was driven by large rises in the majority of the top cryptocurrencies, demonstrating investor confidence in the market’s future.
On Friday, October 6, the digital currencies went southward as a result of robust US job statistics that signaled the Federal Reserve still had room to act on its hawkish objectives. However, the market has recovered as investors’ confidence in the market has grown.
Bitcoin’s price was up 1.43% to $27,941.42 as of this writing, and its volume during the previous 24 hours increased by 15.46% to $13.48 billion. At the same time on Saturday, its market cap increased by 1.35% to $545.03 billion.
While the market capitalization of Ethereum fell by 7.20% to $4.86 billion, its price increased by 1.26% to $1,643.27. In the meantime, its market capitalization increased in line with its price and remained at $197.57 billion. Currently, the Solana’s price has increased by 2.97% to $23.90, while its volume has increased by 16.91% to $408.08 million.
The price of Dogecoin, a meme coin, increased by 0.97% to $0.06165 over the course of the last day, and its volume increased by about 6% to $117.67 million. The Shiba Inu price, on the other hand, increased 0.97% to $0.000007257, while its volume increased 4.19% to $63.56 million.
As of writing, the worldwide crypto market cap increased by 1.09% to $1.09 trillion, while its volume increased by 4.06% to $26.5 billion. The fear and greed index for the cryptocurrency market also maintained at 46, indicating a neutral mood dominating the sector.
The Top 4 Cryptocurrencies Right Now Are: Pepe Coin Gains 2%
The meme coins’ prices increased on Saturday as a result of the cryptocurrency market’s rise. As of October 7 at the time of writing, Pepe coin’s price had increased by 1.94% to $0.0000007194 while its volume had decreased by 4.38% to $43.1 million.
7% growth for Avalanche (AVAX)
The Avalanche cryptocurrency kept up its upward trend throughout the weekend, indicating that investors are becoming more interested in it. As of the time of writing, the Avalanche’s price increased by 7.01% to $11.07, and its market cap increased by a comparable percentage to remain at $3.92 billion.
Monero (XMR) increases by 3%
As of writing on October 7, the price of Monero increased by 2.48% to $152.47, but its volume decreased by 12.32% to $49.44 million. Despite the lack of recent news regarding the rise in the price of cryptocurrencies, it appears that gains have been aided by the market’s overall bullish trend.
Polygon (MATIC) increases 5%.
One among the major gainers on Saturday was the cryptocurrency Polygon, which caught the attention of traders. At the time of writing, the Polygon price was up 4.86% to $0.5763, while its 24-hour volume increased by 12.49% to $271.23 million.