Bitcoin’s rally past $30,000 has made it one of the top 10 performers of the past 24 hours. CryptoSlate data showed only six other coins surpassed BTC’s 6.41% rise, with some newcomers to the industry leading the way when it comes to performance.

Table showing the 7 top-performing coins in the past 24 hours (Source: CryptoSlate)

Most of this growth happened during Asian trading hours and could be a result of increased investor confidence. China’s CPI and PPI inflation numbers came in lower than expected, leading many BTC investors to expect that the People’s Bank of China (PBoC) will start a new round of stimulus.

Data from CryptoSlate showed RenderToken (RNDR), a Polygon-based protocol, jump by almost 17% and return to its monthly high of $1.58. This is a culmination of a month-long increase propelled by the protocol’s migration to Solana.

Conflux Network, an ambitious scalable network targeting the Chinese market, ranked close second with a rally of just under 14%. The CFX token seems to be regaining its ATH from mid-March when news of a $10 million funding round propelled its growth.

Stacks, formerly known as Blockstack, saw its native STX token rise 12.14% in the past 24 hours. STX has been one of the best-performing tokens this year and a recent announcement about the launch of a Stacks Staking ETP has furthered fueled this growth.

The Cosmos-based Injective posted a solid 10.56% gain in the past 24 hours, reclaiming its January 2022 high.

Solana recorded a 10.26% increase, correcting the losses that began in the second half of March. The protocol’s introduction of low-cost, compressed NFTs last week triggered a rally that pushed SOL past $22.3.

Fantom has seen a tumultuous few months with steep corrections and supercharged rallies. Over the course of the last 24 hours, FTM saw a modest 9.25% gain bringing it back to its late March price of just under $0.50.

 

The post Only 6 coins outperformed BTC in the past 24 hours appeared first on CryptoSlate.

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Filed under: Bitcoin - @ April 11, 2023 2:04 pm