The cryptocurrency market is seeing a surge in prices with Bitcoin holding steady at around $30k. Many altcoins are pumping, both old and new, including Bitcoin Cash, Bitcoin SV, and Waves, as well as meme coins like Pepe and newly listed Uniswap coins. The market sentiment is high, and several trending cryptocurrency assets are up double digits or more today, despite ETH/BTC trending down.
Hot Pairs on DEXTools.io
DEXTools.io is showing the most visited pairs in the past 24 hours, which is an indication of what traders are looking at right now. The top ten trending crypto coins include $PEPE, which was the best performing crypto asset of Q2 2023 and is back in the #1 spot after its recent bounce of over 100%. Polygon (MATIC), the 12th largest cryptocurrency in the world, is trending today, although the MATIC price is flat.
New Cryptocurrencies on the Rise
Ben.eth’s controversial new cryptocurrency $PSYOP has bounced over 2,000% from its lows. It’s unclear why PSYOP is trending today, but some speculate it may be due to the project releasing its new decentralized exchange platform PSY DEX. The term ‘PSYOP’ is also trending in relation to the reported coup attempt on Putin, which some parties are speculating was a CIA false flag.
Tweety is a brand new meme coin with a $1 million market cap at the time of writing. Based around the Warner Bros Looney Tunes cartoon character Tweety, the new token is up over 200% and in the top three trending crypto coins. Elon Musk tweeted over the weekend that the best coverage of the Ukraine-Russia situation was from controversial crypto influencer Mario Nawfal, which led to another new coin on Uniswap being listed – Wagner Inu (WAGINU). A play on Shiba Inu and the conflict between Vladimir Putin and Yevgeny Prigozhin, the new token made its debut on Uniswap today.
Possible Reasons for the Market Surge
While it’s unclear why some cryptocurrencies are trending today, the surge in the market sentiment may be due to several factors. One possibility is the recent announcement that El Salvador has become the first country to adopt Bitcoin as legal tender. This news has sparked interest and excitement in the cryptocurrency community. Additionally, the recent dip in prices may have created buying opportunities for traders, leading to the current surge in prices.
The cryptocurrency market is seeing a surge in prices with several trending cryptocurrency assets up double digits or more today. Many altcoins are pumping, both old and new, indicating high market sentiment. While it’s unclear why some cryptocurrencies are trending today, the recent announcement of El Salvador adopting Bitcoin as legal tender and the recent dip in prices may have contributed to the surge in the market sentiment.