The crypto market was higher over the past 24 hours, as the majority of top 10 cryptos were in the green at time of writing. The UK100 rose 0.81% yesterday to reach its highest level since December 2019.
Inflation in the US has reached 7%, its highest level for 40 years. The latest reading is in line with analyst expectations, with prices for cars, furniture, energy, and food driving much of the surge. Taking the inflation news in their stride, all three major US indices rose yesterday.
Investors will be closely following the monthly producer Price Index (PPI) data, set to be released today at 13:30 GMT.
Bitcoin climbed around 2%, trading above $43,000, while Ethereum and XRP were up around 3% each. Cardano has registered its first more substantial gains in a while, up almost 8% today. It is trading for $1.30 and has a 24-hour trading volume of just over $2 billion.
Dogecoin has been on a somewhat unexpected bull run. It is doing well after whales bought it in especially large amounts yesterday. Today, it added 12% to its value.
Shiba Inu is also up 12%, but the reason is a Robinhood listing rumor. This isn't the first time such a rumor has surfaced. Shiba Inu's October 2021 peak may have been due to the same rumor.
Harmony’s advent goes on. It gained 13% in the last 24 hours and an impressive 29% over the past week. Oasis Network is also trending with gains of 13% today.
Monero, which allows transactions to take place privately and anonymously, is up 10% today.
1inch Network, uniting decentralized protocols and enabling lucrative, fast, and safe operations in the DeFi space, added 10% to its value as well.
Zilliqa was briefly back in the top 100 biggest coins by market cap with gains of just over 10% in the last 24 hours.
Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. It is impacted by bullish trends affecting some other game tokens, adding 9% to its value today.
Another winner is XDC, the native coin of XinFin, an enterprise-ready hybrid blockchain technology company optimized for international trade and finance. It is up 9% today.
Velas, the world's fastest EVM blockchain with speeds up to 75 000 tx/s, gained 9% in the last 24 hours.
Fantom continues its bull run. It is up 7% today, bringing its 7-day growth to 10%.
Stellar Lumens, an open network that allows money to be moved and stored, registered a surge of around 7% today.
PAPPAY is the biggest gainer on yet another day. Today, it added an impressive 900% to its value. PAPPAY is a payment tool that provides holders with passive income. It enables safe, easy, and fast online payments, including ecommerce payments. It generates passive income of 1% and gives developers access to an API.
The token GamingShiba is the top trender on CoinMarketCap. This cryptocurrency, which describes itself as the link between gamers, streaming platforms, NFTs, and the Metaverse, is up 61% in the last 24 hours.