SATS, Aave, Monero, and ORDI soar over 10% after Bitcoin jumps 4%

Altcoins SATS, Aave, Monero, and ORDI have all surged over 10% over the past day to rank as the top gainers in the crypto market, as Bitcoin, the leading cryptocurrency by market cap, jumped over 4% in the same timeframe.

SATS

SATS (1000SATS) led the charge among the top gainers on July 26.

At the time of writing, the crypto asset was still up 18.5% in the last 24 hours, trading at $0.00033. SATS’s daily trading volume was also up 18.4%, hovering around $202.6 million. 

The meme token’s market cap now stands at $695.6 million. However, the token’s value remains 64% below its all-time high of $0.00093, achieved on Dec. 26, 2023.

SATS is a BRC-20 token created to honor Satoshi Nakamoto, the pseudonymous inventor of Bitcoin. The name SATS refers to satoshi, the smallest unit of Bitcoin, equating to 0.00000001 BTC.

Developed by an anonymous team, SATS embodies a lighthearted approach within the cryptocurrency space, highlighting the cultural and historical importance of Bitcoin’s smallest unit.

Aave

Aave (AAVE) saw a 10% increase in price over the past day, trading at $102.6 at press time. In the same time frame, the crypto asset’s daily trading volume hovered around $240.5 million.

Aave’s market cap is $1.52 billion, making it the 55th largest crypto asset. The token is still 84% below its all-time high of $666, reached on May 19, 2021.

Aave is a decentralized finance protocol enabling users to lend and borrow cryptocurrencies and real-world assets without relying on a centralized intermediary.

The platform has its own cryptocurrency, AAVE, which serves as its governance token. Holders of AAVE can vote on Aave’s development proposals and earn staking rewards by locking their tokens into the system. Additionally, Aave issues aTokens to lenders, allowing them to earn interest on their deposits.

Monero

Monero (XMR), a privacy-focused peer-to-peer digital currency, was still up 8.5% in the last 24 hours and was trading at $168.7.

With a market cap of about $3.11 billion, Monero ranks 27th in global cryptocurrency rankings by market cap and has a daily trading volume of approximately $129.5 million at the time of publication.

Monero is a cryptocurrency that focuses on privacy and confidentiality. Unlike most cryptocurrencies that emphasize transparency and security, Monero upholds the principles of anonymity. This sets it apart from well-known transparent blockchains like Bitcoin and Ethereum.

Monero ensures user anonymity through technologies such as ring signatures, stealth addresses, and ring confidential transactions (RingCT). These features make every user on the Monero network anonymous by default, concealing information about the sender, receiver, and transaction amount.

ORDI

Ordi (ORDI) saw an 11.6% increase in price over the past day, trading at $38.5 at press time. In the same timeframe, the crypto asset recorded a trading volume of $165 million.

ORDI’s market cap is $809 million, making it the 83rd largest crypto asset. The token is still 60% below its all-time high of $96, reached on March 5, 2024.

ORDI is a meme coin on the Bitcoin network and the first BRC-20 token created using the Ordinals protocol.

The Ordinals protocol, developed by software engineer Casey Rodarmor, allows data like text, images, audio, and video to be directly inscribed on each satoshi, the smallest unit of Bitcoin. This technology has enabled new uses for non-fungible tokens (NFTs) and other tokens on the Bitcoin blockchain.

ORDI has a fixed supply of 21 million tokens and functions as a fungible and transferable asset within the BRC-20 ecosystem.

Bitcoin leads market recovery with 4% jump

The surge in these altcoins followed Bitcoin’s (BTC) 4.5% rise over the past day, reaching $66,968 on Friday, July 26. Bitcoin’s 24-hour low was $63,506, while its high was $67,338. The world’s oldest and most valuable cryptocurrency recovered from its losses, surpassing the $66,000 mark for the first time this week.

Other popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC), experienced minor fluctuations in gains and losses. The overall Market Fear & Greed Index stood at 59 (Neutral) out of 100, according to CoinMarketCap data.

At the time of writing, the global crypto market cap was $2.39 trillion, reflecting a 24-hour increase of 3.41%.