The cryptocurrency market is now trading in a consolidation range following the rally that started on October 19. However, all three altcoins continue to post significant gains over the weekend.
These 3 cryptocurrencies continued to shine during the weekend calm
cryptokoin.comAs you follow from , Bitcoin’s wind has also dragged the market. After the long winter market, green days are back. However, it remains unclear how long this will last and whether it will continue. Still, some cryptocurrencies continue to post notable gains. Even though there was a calmness in the overall market over the weekend, 3 altcoins continue their brightness. Especially THORChain (RUNE), Injective (INJ) and Render (RNDR) continue to trend upwards.
Meanwhile, the CRYPTOCAP index has entered the consolidation range between $1.20 trillion and $1.26 trillion total market cap. This index created by TradingView measures the market value of all cryptocurrencies. At the time of writing, the total crypto market cap sits in the middle of that consolidation range at $1.23 trillion.
The top secret altcoin: THORChain (RUNE)
Interestingly, THORChain was involved in a controversy a week ago that also affected its price. However, it later makes a strong comeback. THORSwap, one of its user-friendly interfaces, censored some transactions involved in a hacking incident. Thus, the altcoin project had to comply with the rules. RUNE was trading at $2.53 at the time of writing. The token is ranked 49th by market cap and is showing strength in daily price movement. Meanwhile, transaction volume in the last 24 hours has reached over $113 million.
Injective (INJ) comes in second place
Injective broke away from the crypto market this week, racking up extraordinary gains over a long period of time. Although it is reported to be indexed in the ‘Overbought’ zone with high RSI scores, this Cosmos protocol continues its uptrend for another day. INJ was trading at $13.38 at the time of writing. Additionally, it reached over $143 million in trading volume within 24 hours.
Last ranked altcoin: Render (RNDR)
Meanwhile, Render is one of the top 48 cryptocurrencies by market cap. Render is a “distributed GPU rendering network” built on the Ethereum Blockchain. According to the project’s description, Render aims to “connect artists and studios in need of GPU computing power with mining partners looking to rent GPU talent.” At the time of writing, RNDR is trading at $2.35 with about half of Injective’s volume. The token recorded an exchange volume of $75 million in the last 24 hours during its daily price rise.
In such a volatile market, cryptocurrencies can switch between top gainers and biggest losers in the blink of an eye. The cryptocurrency space is constantly changing and different altcoin projects come to the fore every day. That’s why we recommend that you do your own research and keep the risks in mind when investing.
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