SATS, Aave, Monero, and ORDI soar over 10% after Bitcoin jumps 4%

Altcoins SATS, Aave, Monero and ORDI have become among the biggest gainers in the cryptocurrency market, increasing by over 10% in the last day, while Bitcoin, the leading cryptocurrency by market value, has increased by over 4% in the same time period.

STSs

SATS (1000SATS) led the way among the top gainers on July 26.

At press time, the crypto asset was trading at $0.00033, up 18.5% in the last 24 hours. SATS’s daily trading volume also rose 18.4% to around $202.6 million.

1000SATS 24-hour price chart | Source: CoinMarketCap

The meme token currently has a market cap of $695.6 million, but its value remains 64% below its all-time high of $0.00093 reached on December 26, 2023.

SATS is a BRC-20 token created to honor Bitcoin’s pseudonymous inventor, Satoshi Nakamoto. The name SATS refers to the smallest unit of Bitcoin, a satoshi, which is equal to 0.00000001 BTC.

Developed by an anonymous team, SATS takes a playful approach to the cryptocurrency space, highlighting the cultural and historical significance of Bitcoin’s smallest unit.

Aave

Aave (AAVE) saw a 10% increase in its price in the past day and was trading at $102.6 at press time. During the same time frame, the daily trading volume of the crypto asset hovered around $240.5 million.

AAVE 24-hour price chart | Source: TradingView

Aave has a market cap of $1.52 billion, making it the 55th largest crypto asset. The token is still 84% below its all-time high of $666, which it reached on May 19, 2021.

Aave is a decentralized finance protocol that allows users to lend and receive cryptocurrencies and real-world assets without the need for a central intermediary.

The platform has its own cryptocurrency, AAVE, which serves as its governance token. AAVE holders can vote on Aave’s development proposals and earn staking rewards by locking their tokens into the system. Additionally, Aave issues aTokens to lenders, which allows them to earn interest on their deposits.

Monero

Monero (XMR), a peer-to-peer digital currency focused on privacy, was trading at $168.7, up 8.5 percent in the last 24 hours.

XMR 24-hour price chart | Source: CoinMarketCap

With a market cap of approximately $3.11 billion, Monero ranks 27th in the global cryptocurrency rankings by market cap and has a daily trading volume of approximately $129.5 million at the time of publication.

Monero is a cryptocurrency that focuses on privacy and confidentiality. Unlike most cryptocurrencies that emphasize transparency and security, Monero advocates the principles of anonymity. This sets it apart from well-known transparent blockchains like Bitcoin and Ethereum.

Monero provides user anonymity through technologies such as ring signatures, stealth addresses, and ring confidential transactions (RingCT). These features make every user on the Monero network anonymous by default and hide information about the sender, recipient, and transaction amount.

ORDI

Ordi (ORDI) saw an 11.6% increase in its price in the past one day and was trading at $38.5 at press time. During the same time frame, the crypto asset recorded a trading volume of $165 million.

ORDI 24-hour price chart | Source: TradinView

ORDI has a market cap of $809 million, making it the 83rd largest crypto asset. The token is still 60% below its all-time high of $96 reached on March 5, 2024.

ORDI is a meme coin on the Bitcoin network and the first BRC-20 token created using the Ordinals protocol.

The Ordinals protocol, developed by software engineer Casey Rodarmor, allows data such as text, images, audio, and video to be written directly into each satoshi, the smallest unit of Bitcoin. The technology has enabled new uses for non-fungible tokens (NFTs) and other tokens on the Bitcoin blockchain.

ORDI has a fixed supply of 21 million tokens and functions as a fungible and transferable asset within the BRC-20 ecosystem.

Bitcoin leads market recovery with 4% jump

The surge in these altcoins follows Bitcoin’s (BTC) 4.5% increase over the past day, reaching $66,968 on Friday, July 26. Bitcoin’s 24-hour low was $63,506, while its high was $67,338. The world’s oldest and most valuable cryptocurrency has recovered from its losses, breaking the $66,000 mark for the first time this week.

Other popular altcoins like Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) experienced minor fluctuations in gains and losses. The overall Market Fear & Greed Index stood at 59 (Neutral) out of 100, according to CoinMarketCap data.

At press time, the global cryptocurrency market cap was $2.39 trillion, reflecting a 24-hour increase of 3.41%.