Cardano (ADA) and Dogecoin (DOGE) have grown rapidly with the surge in the crypto market. The last 24 hours are still interesting for the crypto market, as prices have risen across the board after a bullish run-up. Top coins like Bitcoin and Ethereum have seen massive price gains so far. Total crypto market cap increased by more than $ 1 billion in just 24 hours.
In the further run-up, altcoins such as ADA and DOGE continue to show enormous market movements. The price of both digital currencies has risen over 10% each and will continue to rise as investors come back into the market. Bull traders have now taken over the market as the bears mount increasing losses.
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Short liquidations in the markets have exceeded $ 1 billion, with Dogecoin liquidations being the fourth highest on the market to date. Altcoins continue to see recovery trends as most of the market moves towards green in this surprise twist this week.
Dogecoin, Cardano continue uptrend
Dogecoin continues to lead the way so far, recording a price gain of 13% in the past 24 hours. DOGE, which continued to see downtrend after the hype about the coin and “Dogefather” Elon Musk subsided, has now broken out of what it seemed to have been in for most of the past week.
The DOGE price moved from trading at $ 0.195 to above $ 0.20 to sit at the current price of $ 0.2244, where it is currently trading.
Crypto market gains over $1 trillion in 24 hours | Source: Crypto Total Market Cap on TradingView.com
Cardano (ADA) has continued to post gains of over 11% in that direction as the current rally continues. The digital asset, which was trading for $ 1.20, had a huge surge, causing the price to hit $ 1.32 in a matter of hours.
Both digital currencies continue to show double-digit gains on the market. Dogecoin’s market cap is now at $ 29 billion as the Cardano market cap is making gains at $ 43 billion.
Bullish news moving crypto market cap
In the last week there has been more support for Bitcoin and other cryptocurrencies. News like billionaire Elon Musk, who confirms that Tesla and SpaceX have Bitcoin on their balance sheets, has proven very optimistic. The market had shown positive sentiment as the Bitcoin price rose after the announcement. Breaking through $ 32,000 and maintaining momentum where the price surged above $ 34,000.
Related reading | SpaceX has Bitcoin on its balance sheet, Elon Musk
At the same conference, Musk had confirmed that he personally holds Bitcoin, Ethereum and Dogecoin. Proof that the billionaire never sold his holdings of the meme coin. Musk had also confirmed that while he pumps coins, he never threw his coins away.
Shortly afterwards, the news came that Amazon was working on integrating Bitcoin into its platform. With cryptocurrencies being speculated as a payment method for the e-commerce giant, sentiment in favor of the crypto market had grown, and as such, investors seem to have returned to the crypto space with renewed vigor.
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After rumors circulated on Sunday that an insider at the e-commerce giant confirmed the integration of cryptocurrencies, prices rose towards the end of the weekend.
So far, the crypto market has seen sustained support as cryptocurrencies continue to maintain their gained value and the charts across the market remain in the green. Dogecoin and Cardano continue to top the list of winners in the market.
Featured image from Nairametrics, chart from TradingView.com