Crypto traders discovered trigger for celebration on July 14 because the market skilled a optimistic buying and selling session simply someday after the Client Value Index (CPI) posted a June print of 9.1%, its highest degree since 1981.
The transfer greater out there wasn’t solely surprising for seasoned merchants who’ve change into conversant in a one to two-day bounce in asset costs following the latest CPI prints. These merchants additionally know there’s nothing to get too enthusiastic about, because the bounces have sometimes been adopted by extra draw back as soon as folks understand that the excessive inflation print is a damaging growth.
Nonetheless, the inexperienced out there is a welcome sight after the tough begin to 2022.
In line with knowledge from Cointelegraph Markets Professional and TradingView, the most important gainers over the previous 24 hours have been Uniswap (UNI), Polygon (MATIC) and Aave (AAVE).
Robinhood lists UNI
Uniswap, the highest decentralized change (DEX) by quantity, noticed its token value head greater on July 13 after hitting a low of $5.23. The token has since climbed 36% to hit a day by day excessive of $7.11 on July 14 amid a 104% spike in its 24-hour buying and selling quantity to $449 million.
The sharp turnaround in UNI value and buying and selling quantity comes as the favored brokerage agency Robinhood introduced that the UNI token is now out there to commerce on the platform, exposing the asset to a big cohort of latest patrons who don’t have accounts on different cryptocurrency exchanges.
Disney information offers a lift for MATIC
Polygon is likely one of the high layer-2 scaling options for the Ethereum community that provides a faster- and lower-fee transaction expertise for customers and protocols.
Information from Cointelegraph Markets Professional and TradingView reveals that after briefly dipping to a low of $0.52 on July 13, the worth of MATIC spiked 36% to hit a day by day excessive at $0.707 on July 14 on the again of a 120% spike in its 24-hour buying and selling quantity.
MATIC’s value 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
Associated: Bitcoin analysts weigh sub-$17.5K dip after ‘weak’ BTC value bounce
Aave rallies on stablecoin developments
Aave, a well-liked decentralized finance platform, is a lending and borrowing protocol that presently holds $5.63 billion in whole worth locked (TVL), making it the second-ranked DeFi platform by TVL behind MakerDAO.
Information from Cointelegraph Markets Professional and TradingView reveals that over the previous 24-hours, the worth of AAVE has rallied 38.5% from a low of $67.10 to hit a day by day excessive of $93 within the afternoon hours on July 14.
Aave sparked pleasure inside its neighborhood 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’ve got created an ARC for a brand new decentralized, collateral-backed stablecoin, native to the Aave ecosystem, generally known as GHO.
Learn extra beneath and talk about 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 charge is 42.6%.
The views and opinions expressed listed below are solely these of the writer and don’t essentially mirror the views of Cointelegraph.com. Each funding and buying and selling transfer includes danger, it is best to conduct your personal analysis when making a call.
