Fantom Network sees an 11% surge as Web3 activities grow and price breaks critical resistance.
Sui Network jumps 25.71% in the past 24 hours, with increased ecosystem growth and $13.3 billion valuation.
Whale activity rises in altcoins, including STG, GMX, and GALA, signalling renewed interest from major investors.
In the recorded market movements, altcoins are beginning to show signs of a breakout following the recent decision by the US Federal Reserve to cut interest rates by 50 basis points. This decision has brought activity in the cryptocurrency market in select altcoins, which have responded with notable price surges.
Fantom Network Sees 11% Surge as Web3 Activity Rises
As the Fantom network prepares to migrate its operations to Sonic Labs, its Web3 activities have continued to rise. According to the latest market data from Santiment, the Fantom network recorded an 11% increase, with a 23.33% surge in stablecoins market cap at the time of writing.
https://twitter.com/santimentfeed/status/1836532873773642105
In the past 24 hours, FTM price surged to trade on Thursday during the early Asian session. As a result, the FTM price rallied above the crucial resistance level, which matched with the 50 weekly Moving Average (MA).
Sui Network Surges 25%, Whale Activity Increases
Sui network, a growing layer one blockchain with a deep Web3 ecosystem, has registered gains in the past few days. The altcoin, which has a fully diluted valuation of about $13,285,751,571 billion, has pumped over 25.71% over the past 24 hours.
Sui’s bullish sentiment is supported by its vast web3 ecosystem, which has about $797 million in total value locked and over $366 million in stablecoins market cap. On Wednesday, stablecoin issuer Circle announced plans to bridge its USDC to the Sui network soon.
In addition to the price increases in Fantom and Sui, other assets have shown whale activity. Whale transaction numbers have risen in several cryptocurrencies, including Stargate (STG), GMX, Big Time (BIGTIME), Origin Protocol (OGN), Gala (GALA), and Pixel (PIXEL).
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