As the crypto market rises, Cardano (ADA) and Dogecoin (DOGE) have risen quickly. The crypto market has had an intriguing previous 24 hours, with prices surging across the board following a bullish run-up. So far, top coins such as Bitcoin and Ethereum have seen enormous price increases. Over $1 billion has been added to the whole crypto market cap in only 24 hours.
Altcoins like ADA and DOGE continue to see massive market moves as the rally continues. Both digital currencies’ prices have risen by more than 10% and are continuing to rise as investors return to the market. As bears continue to lose money, bull traders have taken control of the market.
Shorts liquidations have surpassed $1 billion throughout the markets, with Dogecoin being the fourth-highest so far in the market. In a surprising turn of events this week, altcoins are continuing to experience rebounding patterns as the majority of the market turns green.
Dogecoin and Cardano are still on the rise.
So far, Dogecoin has led the charge, with a 13 percent price increase in the last 24 hours. DOGE has finally broken out of the rut it looked to have been caught in for the greater part of last week as the hoopla around the coin and its “Dogefather,” Elon Musk, died down.
DOGE’s price has risen from $0.195 to $0.2244.
As the current rise continues, Cardano (ADA) has posted gains of over 11%. The digital commodity, which was trading for $1.20 at the time, went from $1.20 to $1.32 in a couple of hours.
In the market, both digital currencies continue to display double-digit price growth. Dogecoin’s market capitalization has risen to $29 billion, while Cardano’s has risen to $43 billion.
The Crypto Market Cap Is Being Moved By Positive News
More support for bitcoin and other cryptocurrencies has emerged in the last week. The confirmation by entrepreneur Elon Musk that Tesla and SpaceX carry bitcoin on their balance sheets has been quite optimistic. Following the announcement, the market reacted positively, with the price of bitcoin rising. Breaking the $32,000 barrier and maintaining the momentum that saw the price rise to above $34,000.
Musk revealed his own holdings of Bitcoin, Ethereum, and Dogecoin at the same conference. Proving that the billionaire never sold his meme coin holdings. Musk also stated that he has never dumped his coins, despite the fact that he may pump them.
The revelation that Amazon was working on integrating bitcoin into its platform followed closely behind. With the possibility of cryptocurrencies being used as a payment mechanism by the e-commerce behemoth, investor mood has shifted in favor of the crypto market, and as a result, investors appear to have returned to the crypto area with fresh zeal.
As the weekend came to a close, prices rose after rumors spread that an insider from the e-commerce giant confirmed the integration of cryptocurrency.
So far, the crypto market has experienced continued support as cryptocurrencies have maintained their value gains and market charts have remained in the green. Dogecoin and Cardano continue to be the market’s top gainers.