As the trading week draws to a close – although cryptocurrencies can be bought and sold over the weekend – the cryptocurrency market is slipping a bit. The most valuable cryptocurrencies are showing a mixed picture. While Ethereum is up just under 2%, Bitcoin’s price has fallen by more than 3%. However, the following article focuses on some of the altcoins that have caught the attention of investors today.
Flow (FLOW)
With a strong performance of around 30% in the last 24 hours, Flow is leading the cryptocurrency market. While the price of Flow had barely moved on a weekly basis until now, that changed today, Friday. Apparently, investors are increasingly betting on the cryptocurrency project, which wants to make blockchain accessible to everyone. The approach to a concept suitable for the masses is exciting and sparks the imagination. At the same time, the chart looks more positive again. After the strong price rally, there could be room for further progress, although short-term setbacks must also be expected.
Cardano (ADA)
Early in the morning, Cardano was already trading at a significantly higher level. The price moved resolutely towards the 1.32 US dollar mark. Subsequently, however, a significant correction took place, so that the entire price increase of the last 24 hours was abandoned. The Cardano price remains trapped in the sideways range in which the coin has been moving for several weeks.
However, there has been positive news for Cardano in recent days. The long-awaited Cardano Alonzo White Hard Fork upgrade was successfully launched in mid-July. This measure aims to integrate dApps and DeFi into the Cardano network. With this upgrade, Cardano wants to become a real competitor to the Ethereum blockchain in the medium term. Smart contracts are of central importance in this context and will also be used in everyday life via Cardano in the future. This could give the stock price further momentum in the medium term, although the sideways range must be considered a decisive price area for the time being.
Ontology (ONT)
Ontology is also leading the way. In the last 24 hours, the coin has gained more than 10% of its value. At the same time, the market capitalization of less than 700 million euros remains manageable compared to established coins. Last month, the performance was around 10%. Ontology is very far from the all-time highs. After the May craze, there was a drastic correction that reached its lowest point in mid-June. Since then, the price has caught up and consolidated sideways. Today, however, a breakout may have taken place, but it has yet to prove sustainable.
Solana (SOL)
Solana is also up around 10%. It has thus reached a new 14-day high. Nevertheless, there are still some hurdles that SOL must overcome to reach new highs. Since the high reached in May, which was well over 50 USD, the price has more than halved to almost 20 USD. The blockchain project convinces with its speed and is repeatedly described as an “ETH killer”. In terms of growth, hardly any blockchain project comes close to Solana. This could also be reflected in the SOL price in the medium term.
0x (ZRX)
In terms of market capitalization, ZRX is probably not one of the most important coins. The coin has lost the strong performance of this morning. In the meantime, almost nothing has changed on a daily basis. However, in the past week, ZRX has gained almost 14% in value. Developers describe 0x as the open protocol for reliable and seamless exchange of assets based on the Ethereum blockchain.
