Key Takeaways
What are the trending cryptocurrencies today?
BTC and ETH led the daily trends, with other high gainers like CC, SPX, and HBAR joining the list.
Why was the crypto market up?
Most coins were forming potential bottoms from oversold territory, while the biggest losers recorded single-digit figures.
The crypto market rose by about a percent in the past 24 hours, with Canton [CC], Hedera [HBAR], Story Protocol [IP], SPX6900 [SPX], and Telcoin [TEL] leading the gains for the top 100 cryptos.
They all recorded gains of 5% and above.
The crypto market rebounded from the oversold territory, which also saw Bitcoin [BTC] plunge to $80,000 while Ethereum [ETH] dipped below $2,650.
Most of the coins were showing signs of potential bottom formation, even though it remained seller-controlled.
Top trending cryptocurrencies today
The top trending tokens were the usual Layer 1s and those coins that were the highest gainers in the past 24 hours. Solana [SOL] and Binance Coin [BNB] filled this list of top trending tokens.
Bitcoin and Ethereum rebound
Bitcoin recovered from $80K to $86K, but bulls showed weak momentum as the net volume stagnated. The net volume was at 111 with spikes between the 21st to the 22nd of November.
Ethereum also rose from $2,650 to $2,800, which was less than a percent change. Canton remained above the $3 billion valuation with 13% gains, followed by HBAR’s 8%.
IP, SPX, and TEL all recorded a 7% rise, representing a mix in sector performance.
Source: TradingView
These altcoins were trending based on their price performance. However, BTC and ETH led the entire crypto sector because of their market capitalization.
Tokenized gold gain
Tether’s gold was also among the top trending cryptos. Tether, PAX, and Matrixdock were some leading tokenized gold issuers that were gaining traction.
The price action had been in sideways movement since the 14th of November, bouncing off between $4,027 and $4,080. Bulls were in charge but struggling to push the price above $4,050.
Source: TradingView
The asset remains in sideways movement after making its entry inside a market dominated by cryptocurrencies.
Solana and BNB thrive
On the sentiment side, Solana and BNB coins were the most on the CoinMarketCap list.
Official Trump [TRUMP], Jupiter Perps LP [JLP], and Fartcoin [FARTCOIN] led the Solana ecosystem, even though they did not all record positive changes.
Source: CoinMarketCap
BNB’s Planck [PLANCK] led the market with a 27% rise, with the market cap at $5.53 million after two months of trading.
Other trending narratives
Other trending narratives in the crypto market today were the DeFi protocol coins. Aave Protocol [AAVE], PancakeSwap [CAKE], Ethena [ENA], and Curve DAO [CRV] filled this sector, as some appeared in the top 10.
Source: CoinMarketCap
The memecoin sector was represented by SPX. The memecoin rallied 7%, but others in this sector underperformed.
