BTC and ETH are showing recovery signs in today's market session as SOL dominates with RNDR, which just completed its RNP voting process.
Today’s market session has defied the trend experienced in the past few days, starting today with a bullish turn as the global market cap recorded a 2.85 increase within 24 hours as of press time, taking the total cap to $1.18T. Bitcoin has started relatively well as the crypto king tries and recover from its recent market dip. Currently, at the $28K level, the asset had recorded a 3.6% increase within 24 hours as it tries to recover and pull back above the $30K level.
The asset’s trading volume has also increased by 10% within the same period, as volatility on Bitcoin continues to stabilize with the Bollinger Bands maintaining a close distance as the MACD indicator moves towards the positive region.
BTC 24-hour chart | Source: TradingView
Ethereum is also in for a recovery session today, as the number two crypto records a 2% gain within 24 hours despite the weekly loss still standing at 10%. Ethereum’s trading volume has also increased by 8.5% within the same period showing the increased action on Ethereum.
Altcoin markets
Today seems a rather good day for altcoins with XRP, Cardano, Dogecoin, DOT, and LTC also recording significant gains of about 3% as SOL recorded massive surges.
Trading at $22, Solana had recorded an increase of close to 5% with the trading volume recording a 2% increase within the same period. Showing the incredible dominance Solana presents in today’s market session.
Solana 1-day chart| Source: CoinMarketCap
The RNDR token stands out as today’s top 100 top gainers recording a 16% surge within 24 hours as it also sits on a 6% weekly gain in price in valuation within the same period as of press time. RNDR’s trading volume has also surged by 74% within the same period.
This comes as the token recently completed its RNP voting process which might have caused increased attention on the token as the RNDR whales awaited the final voting result.
Two suggestions, RNP-002 and RNP-003, were recently approved by a Render Network vote. There was enough support in the end for both plans to pass the vote, and they will both be implemented. The final tally for RNP-002 was around 4.8 million RNDR in favor and 36,000 RNDR against; for RNP-003, the tally was approximately 4.7 million in favor and 4.9 thousand opposed.
Both ideas have been formally included in Render Network’s future plans. The Render Network team appreciates the time and effort put in by all of the community members who cast votes and provided feedback.
Arbitrum has again popped up on CoinMarketCap’s trending list, bagging the second position with a 24-hour gain of 4.9% as the asset recovers from its recent weekly loiss of over 17% that reduced its monthly increase in valuation back to a 6% gain.