The crypto market is currently enjoying an altcoin-led rally, with the global crypto cap surging by 1.4% over the past day.
While Bitcoin has appreciated by 1.5% today and is trading above the $26,500 mark, altcoins like Solana is almost 6% up, while Cardano and NEAR have both risen by over 3% on the back of a strong rally in the equities market.
Another token showing bullish growth is yPredict ($YPRED), which recently passed $3.5 million milestone in its ICO.
Cardano, Solana Lead Crypto Recovery, How Long Will The Rally Last?
Solana has broken out of last week’s extreme bearish trend and has surged over 5.5% in the last 24 hours. While $SOL is still down 5% in the weekly time frame and 10% over the last 14 days, it has breached the crucial $21 price level and is currently trading at $21.73.
The token’s current rally can be attributed to Solana’s continued mainstream adoption as it has now become a part of Shopify’s payment solution. Millions of merchants using the Shopify platform can now make and receive payments in USDC through Solana Pay.
As a result of the current bull rally, Solana is now inching towards reclaiming the $9 billion market capitalization. Popular analyst @CryptoKaleo likes what he sees in the $SOL charts and believes that the token looks ready to go vertical.
The bulls would next hope to flip the 100-day Exponential Moving Average at $21.98, which could result in a strong continuation.
Cardano has emerged as another winner in the crypto market, rallying over 3% in the daily time frame to trade above the $0.27 mark, before correcting slightly to $0.267.
Similar to Solana, Cardano is also seeing rapid innovation in its ecosystem. On-chain data firm Santiment reveals that Cardano has outpaced both Polkadot and Kusama in terms of the blockchain with most GitHub developments in 2023.
$ADA may also be seeing a surge due to Cardano founder Charles Hoskinson’s recent comments regarding the token’s status in the eyes of the SEC. Hoskinson believes that the SEC is not coming after ADA, despite listing it as a security in both the Coinbase and Binance lawsuits.
If Hoskinson is correct, this could provide a monumental boost to the token as the SEC’s hawkish stance against the crypto industry has become one of the market’s overarching narratives.
yPredict Also Growing as $YPRED ICO Raises $3.5 Million
Another token showing upward momentum is $YPRED, the native token of the new yPredict project.
Artificial intelligence and blockchain are two of the most groundbreaking and futuristic technologies, driving the bulk of the innovation and thus attracting the majority of the investments.
yPredict has combined both these in-demand phenomena, offering a wide range of AI-powered analytical tools and ML-based predictive trading to give a competitive edge to its users in the crypto market.
For example, investors can head to the yPredict Analytics platform and utilize cutting-edge features like automated chart-pattern recognition, sentiment analysis and transaction data analysis to make calculated investments and trading decisions in real-time.
Similarly, pro traders can take advantage of the yPredict’s trading engine and execute their trades at rapid speeds.
The Marketplace platform is the cornerstone of the yPredict ecosystem – it allows AI/ML experts to sell accurate and highly-vetted data models as subscriptions, which traders can purchase to make smart, data-driven market decisions.
10% of every subscription purchased is distributed amongst $YPRED token holders, who can earn up to 45% quarterly staking rewards.
Every $YPRED token holder also enjoys lifetime access to the Market Predictions platform – a cutting-edge tool that uses AI models to predict the prices of thousands of crypto assets and securities.
Due to the token’s high utility, yPredict has emerged as one of the hottest presales to watch, with over $3.5 million worth of $YPRED tokens already sold out.
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