Dogecoin (DOGE) and Solana (SOL) Lead Crypto Market
Dogecoin (DOGE) and Solana (SOL) Lead Crypto Market Recovery as Bitcoin (BTC) Reclaims According to data provided by CoinGecko, Dogecoin (DOGE), XRP and Solana (SOL) are among the top gainers over the past 24 hours. Each of the aforementioned cryptocurrencies has surged by more than 4%.The total market capitalization of all cryptocurrencies listed on the website currently stands at $2.35 trillion. Internet Computer (ICP), dogwifhat (WIF) and Jupiter (JUP) are among the best-performing cryptocurrencies in the top 100. Notably, ICP is the only token from the list that has managed to However, the leading cryptocurrency is still down 18% from its record high that was achieved in March. As reported by U.Today, Glassnode co-founders predicted that a significant capital rotation to alternative cryptocurrencies could take place in the near future. Bitcoin's dominance currently stands at 51%. double-digit gains. kMeanwhile, Bitcoin has surged back above the $60,000 level after multiple failed attempts to break through the important resistance level. The flagship cryptocurrency managed to regain some ground after Saxony, a state in the eastern part of Germany, stopped selling its confiscated Bitcoins earlier this week.the same time, Coinbase researchers recently predicted that the crypto market would remain underwhelming in the third quarter of the year due the the apparent lack of positive catalysts. There is still a lot of uncertainty about the potential market reaction to the upcoming launch of spot Ethereum exchange-traded funds (ETFs) in the U.S. since it is unclear what level of demand they will attract. However, cooler-than-expected inflation could boost chances of a major price rally. According to QCP, hedge funds have been "aggressively" buying December and March Bitcoin options calls that are targeting six-digit Bitcoin pric $BTC $SOL #BinanceTurns7
Stellar (XLM) has recently gained nearly 12%, driven by on-chain market statistics and a recent development. Analysts predict potential further gains for the token.
Market Overview
On July 13, the price of Stellar's native token, XLM, rallied by 12%, sparking optimism across the crypto industry. This price increase is underpinned by several bullish market dynamics.
Stellar’s On-Chain Data Signals Market Uptrend
According to Coinglass data, Stellar is currently experiencing a significant market uptrend. The Futures Open Interest (OI) for XLM saw a remarkable 47.24% increase to $42.01 million, indicating a rise in money inflow within the derivatives market and underscoring investor interest in the asset. Additionally, the derivatives volume surged by 229.81% to $184.91 million, reflecting increased trading activity.
However, today’s data also showed more short liquidations compared to long ones. Coinglass liquidation data recorded $224.18K in short liquidations and $59.47K in long liquidations, causing some investor concerns about future price movements. Despite this, a recent upgrade to the Stellar network has mitigated bearish market sentiments.
Earlier this month, Stellar introduced Soroban, a smart contract platform that focuses on performance, sustainability, and security within its ecosystem. This development has attracted users and developers globally, serving as a potential bullish factor for the long-term prospects of XLM.
XLM Price Rallies
At the time of writing, XLM has increased by 11.79% to $0.102. The token’s 24-hour low and high were $0.09054 and $0.1041, respectively $XLM #BinanceTurns7