Lately, seven altcoins in particular have come up with overall gains in value. Here are the coins that rose with Bitcoin rising above $35,000 in the last 24 hours…
The first altcoin to rise was NEAR
In a groundbreaking announcement on November 1, NEAR Protocol announced a strategic partnership with Nym Technologies, a project specializing in secure infrastructure development, backed by investments from Binance Labs and a16z. This collaboration marks a significant milestone in strengthening the security and privacy of transactions on the NEAR Blockchain, with potential implications for the broader cryptocurrency ecosystem. Nym Technologies’ Nym mixnet, often referred to as layer-0 security infrastructure, is known for its exceptional compatibility with multiple blockchains.
This partnership heralds a new era in improving privacy for NEAR users, especially those involved in NFTs, DeFi and dApps. Users can now transact with confidence knowing that their personal information is protected from prying eyes. The impact of this collaboration on NEAR’s token price was immediate and profound. Within 24 hours of the announcement, NEAR’s value increased by an impressive 11%, outperforming most other cryptocurrencies on the market. This upward momentum shows no signs of abating, with NEAR reaching a significant milestone, trading at $1,576 per token, as of the time of this writing, and trading at $1.5 before the partnership announcement.
Solana soars with Firedancer launch
Solana’s SOL has made impressive gains over the past 30 days, up nearly 81%, and the rally continued last week with over 30% growth. This outstanding performance is attributed to the testnet launch of blockchain’s long-awaited scaling solution, Firedancer, which is seen as a game-changer in the blockchain space. Often referred to as the “Ethereum killer,” SOL has vastly outperformed its rival Ether, which gained less than 11% last month. This success attracted great attention from investors and the crypto community.
SOL-related investment products have also seen significant inflows in recent weeks, according to CoinShares. However, it is worth noting that SOL is still down approximately 84% from its all-time high of around $260 on November 6, 2021. Announced at Solana’s Breakpoint conference on October 31, Firedancer’s testnet launch aims to increase the network’s speed, reliability, and validator diversity. The planned mainnet launch is expected in the first half of 2024.
Altcoin CELO experienced a significant rise
According to market data on November 2, CELO briefly surpassed $0.57 and is currently trading at $0.573, representing a notable 24-hour increase of 18.63 percent. This increase in the price of CELO has attracted the attention of traders and investors and reflects the growing interest in this cryptocurrency.
AAVE and SUSHI witnessed impressive price increase
On the other hand, according to OKX market data, on November 2, AAVE experienced a significant price increase, reaching $101 and is currently trading at $99.18. This represents a 24-hour increase of 21.66%. Finally, DEX governance tokens have seen significant price increases overall. Among them, SUSHI is currently up 48.9 percent in 24 hours at $1,149; UNI is currently at $4,798, a 15.17 percent 24-hour increase; CAKE is currently trading at $1,419, up 14.9% in 24 hours. cryptokoin.comAs we reported, Binance’s perpetual futures contract may be behind the rise of CAKE.