Biggest Crypto Gainers Today on Uniswap – DOJO, KEKEC, FANZ
After profit-taking liquidations of overly aggressive/greedy leveraged long positions saw major cryptocurrencies pull back aggressively from highs on Tuesday, the market is enjoying a strong recovery on Wednesday amid renewed dip buying.
Bitcoin (BTC) dipped as low as $35,000 on Tuesday but has since recovered over $1,500 to trade back above $36,500, with the cryptocurrency enjoying strong support at a short-term uptrend/its 21DMA and last up nearly 3% on the day.
Ether (ETH), meanwhile, was last trading back to the north of $2,000, up more than 4% from Tuesday’s lows.
Solana (SOL), the best performer in the top 20 by market capitalization recently, was last up around 14% in the past 24 hours above $60 having hit new highs for the year, whilst Avalanche (AVAX) was another notable strong performer, gaining around 17.5% in the past 24 hours to hit its highest level since last April above $20.
Sentiment in crypto markets remains buoyant amid ongoing expectations that spot Bitcoin ETFs will soon gain approval in the US and as macro investors increasingly bet that a US Federal Reserve rate cutting cycle will begin midway through next year.
With prices pumping, its perhaps unsurprising to see that capital inflows into the broad crypto market have amped up in recent weeks.
CoinShares’ weekly fund flow report revealed net investor inflows into regulated digital asset investment products remained at close to $300 million for a third consecutive week, with institutions moving into the space in size ahead of expected spot Bitcoin ETF approvals.
Meanwhile, as per data presented by Glassnode, the 90-day net change of the outstanding supply of the top four stablecoins by market capitalization (USDT, USDCC, DAI and BUSD) has shifted into a
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