Bitcoin And Ethereum-Led Surge Triggers Altcoins To Flash Green

By Ketaki Dixit
Published October 10, 2020 Updated October 10, 2020
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Bitcoin And Ethereum-Led Surge Triggers Altcoins To Flash Green

By Ketaki Dixit
Published October 10, 2020 Updated October 10, 2020

Weeks after trading sideways, and sustaining multiple corrections along the way, the cryptocurrency market was flashing green. Bitcoin hit the long-awaited and the recently breached level of $11k on the 9th of October. Along with it, the major altcoins demonstrated solid gains as the global crypto market noted an uptick of nearly 4% over the last day.

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Here’s the list of the top gainers

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Source: Coin360.com

Chainlink [LINK] was up by 14.41% over the past 24-hours which drove its price to $10.08. The token dipped below the crucial $8.80 support region as it continued its massive correction from its mid-August peak value of $20.The bullish flip comes a day after Cambridge-based artificial intelligence lab, Fetch.ai announced the adoption of Chainlink’s decentralized oracle network in a bid to connect Fetch.ai with valuable access to the real-world economic, currency, and commodity price data.

Polkadot [DOT] was currently valued at $4.20 after posting gains of 9.96% over the last day. This is a relatively new project but in its short lifespan, Polkadot has managed to join the top ten crypto coin list almost immediately after its official launch. The latest rise coincided with the Swiss non-profit, partnering with Polkastarter–a DEX built for interoperable token pools and auctions in Polkadot.

It was not just Bitcoin that led the price surge but also by Ethereum which broke above $359 after appreciating by 5.4% in the East 24-hours and recovering the losses incurred over the past week.

Movers in DeFi

While Chainlink continued to retain its position of the best-performing token, along with WTBC which noted a significant rise in tandem with the rise in Bitcoin’s price, there were a few other defi tokens that managed to gain control over the market.

After an impressive streak in the last couple of months, AAVE has garnered significant lauds from the community. Over the last 24-hours, this defi token was up by 10.54% which pushed its price to $0.484. Notably, this comes just a few days after popular cryptocurrency exchange, Gemini announced the listing of Aave Protocol’s native token, AAVE.

YFI ecosystem was plagued with community turmoil and massive selling pressure from major trading funds like Alameda Research. After a capitulatory decline that saw its price reeling down to the lows of $12,300, Yearn.Finance’s token, YFI surged by a whopping 25.04% over the last 24-hours as bulls retook the control thus driving its price to $18,846, at the time of writing.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Ketaki Dixit
94 Articles
Experienced writer and editor with a demonstrated history of working in the industry. Skilled in Copywriting, Web Content Writing, Copy Editing, Writing, Cryptocurrency News Writing, and News Editing.

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