Altcoins SATS, Aave, Monero and ORDI have all risen more than 10% in the past day, leading the crypto market in gains, while Bitcoin, the leading cryptocurrency by market cap, has jumped more than 4% in the same time period.
SATS
SATS (1000SATS) led the gainers on July 26.
At the time of writing, the crypto asset is still up 18.5% over the past 24 hours, trading at $0.00033. SATS’s daily trading volume is also up 18.4%, hovering around $202.6 million.
The meme token’s market cap is currently $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 in honor of Satoshi Nakamoto, the pseudonymous inventor of Bitcoin. The name SATS refers to the satoshi, the smallest unit of Bitcoin, equal to 0.00000001 BTC.
Developed by an anonymous team, SATS embodies a light-hearted approach to the cryptocurrency space, highlighting the cultural and historical significance of Bitcoin’s smallest unit.
Aave
Aave (AAVE) has gained 10% in the last day, trading at $102.6 at press time. During the same period, the crypto asset’s daily trading volume hovered around $240.5 million.
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 financial protocol that allows users to borrow and lend cryptocurrencies and real-world assets without the need for a centralized intermediary.
The platform has its own cryptocurrency, AAVE, which serves as its governance token. AAVE holders can vote on Aave development proposals and earn staking rewards by locking their tokens in the system. Aave also issues aTokens to lenders, allowing them to earn interest on their deposits.
Monero
Monero (XMR), the privacy-focused peer-to-peer digital currency, has gained 8.5% in the past 24 hours to trade at $168.7.
With a market cap of around $3.11 billion, Monero ranks 27th in the world cryptocurrency rankings by market cap, with a daily trading volume of around $129.5 million at the time of publication.
Monero is a cryptocurrency that focuses on privacy and confidentiality. Unlike most cryptocurrencies that emphasize transparency and security, Monero adheres to the principles of anonymity. This distinguishes it from well-known transparent blockchains such as Bitcoin and Ethereum.
Monero provides anonymity to its users 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 amount of a transaction.
ORDI
Ordi (ORDI) has gained 11.6% in the past 24 hours, trading at $38.5 at press time. The crypto asset has seen $165 million in trading volume over the same period.
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 Rodarmo, allows data such as text, images, audio, and video to be directly written to each satoshi, the smallest unit of bitcoin. The technology has opened up new possibilities 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 in the BRC-20 ecosystem.
Bitcoin Leads Market Recovery with a 4% jump
The rise in these altcoins follows Bitcoin’s (BTC) 4.5% gain in the past day to reach $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 has bounced back from its losses to top $66,000 for the first time this week.
Other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC), saw minor fluctuations in gains and losses. The overall market greed and fear index was 59 (neutral) out of 100, according to CoinMarketCap.
At the time of writing, the global cryptocurrency market capitalization was $2.39 trillion, reflecting a 24-hour increase of 3.41%.
