The latest crypto market spurt added 4.6% to overall capitalization in the past 24 hours, taking the total to $1.44 trillion, levels not seen since May 2022.
Cardano's ADA and dogecoin (DOGE) led gains among the top 10 tokens by market capitalization, surging as much as 12% without any immediate catalysts. Liquidations on the futures tracking these majors were lower than usual, suggesting the price action was primarily driven by spot buying.
Solana's SOL climbed to as high as $67, extending a week-long ascent amid a favorable view of the blockchain and waning concerns of an impending FTX sale of the token that would release more SOL into the market. Avalanche's AVAX jumped 24% as developer Ava Labs said it was working with banking giant JPMorgan on an upcoming portfolio management product offered in Singapore.
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