ADA And DOT Advance As The Market Rallies Before Christmas

ADA and DOT advance ahead as the market rallies before Christmas and the thin liquidity is leading to a brief revival of most crypto coins so let’s read more in our latest altcoin news.

The Christmas rally gripped the markets on Friday with most larger-cap coins showing gains over the 24 hours. Binance Coin, Ether, and BTC as the three biggest cryptos by market value added about 4% and set the theme of a bigger move among the other currencies or altcoins. The Liquidity across exchanges for BTC dropped to under $8 billion and the trends are showing a historic theme on the markets before the holiday season which is that the trading volumes are dropping and the volatility is enhanced which is leading to extreme price movements in both directions.

The rally on the market over the past few days was led by LUNA as the native token of the decentralized payment network Terra which surged to over $100 on Asian markets on Friday. ADA and DOT advance as the tokens are among the big movers as they both added 7% to their value. Both protocols are positioned as ETH Rivals and are seeing some major upgrades this year. The smart contracts went live on Cardano and it opened up for more Defi applications going forward while the parachains are live on Polkadot allowing for the creation of the blockchains on the Polkadot network.

The tokens of NEAR gained 8% to a new high of $14 and NEAR traded under $8 earlier this week and surged after the integration with Terra for the UST stablecoins. The UST is pegged 1:1 with the US dollars and it is the biggest decentralized stablecoin with a market cap of $9.6 billion. Among the meme coins over the past 24 hours, DOGE added 3.4% and SHIB added 8% to continue its rally. The SHIB prices reached $0.0004 briefly during the Asian hours before dropping back but the prices of the meme coin jumped as one whale purchased over $136 million worth of coins. The tokens of The Sandbox led gains among other metaverse projects with 22% surges in the past day and the move came as the PwC Hong Kong company said it purchased digital land in the metaverse.

Bitcoin crossed the $50,000 resistance and these prices were last seen during the first week of December which is a level from which BTC slid to support of $46,000. these RSI levels were seen during November as well when BTC traded at a high around $67,000 and then the prices fell to under $59,000 but the reading on Friday doesn’t mean a price drop will happen.