Market highlights November 8: Ether hits new record, Solana firmly sets foot in top 5
Cryptos were mixed today. As a whole, the market registered gains. The total crypto market cap is nearing $3 trillion. US markets ended strong, closing at record highs on Friday. Job data released on Friday boosted Wall Street indices with higher-than-expected growth.
Top cryptos
On Monday, Bitcoin began surging toward its all-time high. Ether hit a new record as cryptocurrencies rode a wave of momentum amid inflation concerns and favorable news. The king of cryptocurrencies rose by over 4% to $66,170, approaching its all-time high of $67,016.
According to BitInfoCharts data, the transaction fee on Ethereum was $41.5 on average this weekend, almost three times what it was three months ago. Ether peaked at $4,768, bringing its gains to almost 60% since the start of October.
Some of the biggest winners in the past 24 hours were Ripple and Polkadot. Ripple gained 9.52% and 16.62% over the past 7 days. Polkadot gained just 1.51% today, but 22.33% in total this past week.
Shiba Inu and Solana were on the losing side today. Still, the market’s main narrative has moved to altcoins against the backdrop of Bitcoin’s receding market dominance. On Monday Solana, Avalanche and other tokens associated with layer 1 blockchains kept grabbing the market’s attention as ether’s transaction fees rose.
Top movers
Internet Computer registered gains of 8.33% in the past 24 hours, increasing by 19.09% in the past week. Helium at #45 by market cap gained 8.03% today and 49.6% in the past 7 days. Kusama at no. 48 is up 8.42% in 24 hours and 30.63% in 7 days. ThorChain, 52nd by market cap, is losing its gains from last week. The token RUNE lost 0.85% today and 13.99% in 7 days.
The biggest winner in the top 100 so far is Kadena, 56th by market cap. It gained 18.27% today and 168.42% in the past 7 days.
Trending
Hero Essence (HES), an in-game currency that you can earn and spend playing HeroVerse, recorded a trading volume of $10.1 million, up 1981% in the past 24 hours. HES is developed by HiKer Game Studio, famous its wide variety of successful games in Southeast Asia. HeroVerse uses play-and-earn instead of play-to-earn mechanisms. It places a greater focus on the gameplay and on improving player experiences. Its fully diluted market cap is just over $3 million, up 1176.94% in 24 hours.
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Daniela Kirova, Khareem Sudlow