Top Crypto Performers Today – 1000SATS, Sui, ORDI
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
On a broadly positive day for cryptocurrency markets, traders turned to altcoins in their search for top crypto performers today, with various names outperforming Bitcoin (BTC) by a decent margin.
Bitcoin went sideways between the $58,000 and $60,000 levels on Monday.
Traders are keeping their powder dry ahead of the release of US CPI inflation data later in the week.
"July core CPI data to leave the door wide open to rapid Fed easing" @IanShepherdson https://t.co/2L5LM7xb8A #PantheonMacro pic.twitter.com/NwNOBWNoTl
Assuming the data supports the case for a larger rate cut from the Fed next month, the CPI release could be a positive catalyst for Bitcoin and the broader crypto market.
But while BTC went sideways, a number of altcoins saw impressive gains.
Ethereum (ETH) was able to rise over 6% in the past 24 hours, whilst others rallied harder.
Here are some top crypto performers today that investors will be watching.
Meme coin 1000SATS (SATS) is one of top crypto performers on Monday, gaining over 20% in 24 hours per CoinMarketCap.
Last at $0.00000032, SATS is eyeing a retest of support-turned-resistance in the $0.00000036 area.
A break above here could see SATS pump back to its March highs above $0.00000080.
Layer-1 protocol Sui (SUI) continues to aggressively pump in anticipation of increased institutional investor interest in wake of Grayscale’s launch of a Sui-linked investment product.
Read more on cryptonews.com
