Crypto buyers discovered trigger for celebration on July 14 because the market skilled a optimistic buying and selling session simply sooner or later after the Consumer Price Index (CPI) posted a June print of 9.1%, its highest degree since 1981.
Daily cryptocurrency market efficiency. Source: Coin360
The transfer larger available in the market wasn’t solely surprising for seasoned merchants who’ve change into accustomed to a one to two-day bounce in asset costs following the newest CPI prints. These merchants additionally know there’s nothing to get too enthusiastic about because the bounces have usually been adopted by extra draw back as soon as folks notice that the excessive inflation print is a unfavorable improvement.
Nevertheless, the inexperienced available in the market is a welcome sight after the tough begin to 2022.
Top 5 cash with the best 24-hour price change. Source: CoinMarketCap
According to information from Cointelegraph Markets Pro and TradingView, the largest gainers over the previous 24-hours have been Uniswap (UNI), Polygon (MATIC) and Aave (AAVE).
Robinhood lists UNI
Uniswap, the highest decentralized trade by quantity, noticed its token price head larger on July 13 after hitting a low of $5.23. The token has since climbed 36% to hit a each day excessive of $7.11 on July 14 amid a 104% spike in its 24-hour buying and selling quantity to $449 million.
UNI/USDT 4-hour chart. Source: TradingView
The sharp turnaround in UNI price and buying and selling quantity comes as the favored brokerage agency Robinhood introduced that the UNI token is now accessible to commerce on the platform, exposing the asset to a big cohort of recent patrons who don’t have accounts on different cryptocurrency exchanges.
Disney information supplies a lift for MATIC
Polygon is likely one of the prime layer-two scaling options for the Ethereum community that gives a quicker, lower-fee transaction expertise for customers and protocols.
Data from Cointelegraph Markets Pro and TradingView reveals that after briefly dipping to a low of $0.52 on July 13, the price of MATIC spiked 36% to hit a each day excessive at $0.707 on July 14 on the back of a 120% spike in its 24-hour buying and selling quantity.
MATIC/USDT 4-hour chart. Source: TradingView
MATIC’s price improve follows an announcement that the protocol was the one blockchain chosen by Disney to be a part of its 2022 Accelerator Program.
Interrupting the #GreenBlockchainSummit for some breaking information!
We’re excited to be the one blockchain chosen to be part of the Disney Accelerator program. https://t.co/LaGU4bhidi
— Polygon – MATIC (@0xPolygon) July 13, 2022
Related: Bitcoin analysts weigh sub-$17.5K dip after ‘weak’ BTC price bounce
Aave rallies on stablecoin developments
Aave, a populardecentralized finance platform, is a lending and borrowing protocol that at present holds $5.63 billion in complete worth locked (TVL), making it the second-ranked DeFi platform by TVL behind MakerDAO.
Data from Cointelegraph Markets Pro and TradingView reveals that over the previous 24-hours, the price of AAVE has rallied 38.5% from a low of $67.10 to hit a each day excessive of $93 within the afternoon hours on July 14.
AAVE/USDT 4-hour chart. Source: TradingView
Aave sparked pleasure inside its group on July 7 when it revealed plans to launch its personal GHO stablecoin, which shall be a collateral-backed stablecoin that’s native to the AAVE ecosystem.
1/ Calling all GHOsts
We have created an ARC for a brand new decentralized, collateral-backed stablecoin, native to the Aave ecosystem, often known as GHO.
Read extra under and focus on your ideas for the snapshot (coming quickly)!https://t.co/P7tHl9LbBe
— Aave (@AaveAave) July 7, 2022
The general cryptocurrency market cap now stands at $927 billion and Bitcoin’s dominance price is 42.6%.
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