Based on trading volume and transaction details from the previous 24 hours, the hottest altcoins are, in that order, HOLO, VET, ADA, and ETH. Holo has gained 30.99 percent in the last 24 hours, while VeChain, Cardano, and Ethereum have gained less than 15 percent.
With growing discussions on crypto Twitter about the lack of realistic use and application for top alts and DeFi tokens, interest in HOT, VET, and ADA has skyrocketed.
HOT’s trading rate has increased by more than 214 percent in the last 24 hours, and this increased liquidity is being consumed by demand on Binance, the USDT market, and the Turkish exchange Paribu’s fiat market. HOT reached its all-time high earlier today, at $0.01134, according to coinmarketcap.com numbers.
HOT has provided retail traders with double-digit returns in the last month, with a YTD ROI of over 152 percent. Similarly, the price of ADA and VET increased by 5.71 percent and 11.82 percent, respectively. In the case of ADA, a bullish theme appears from the repeating ADA-BTC volume trend; the chart below depicts ADA-BTC trade volume over the last 6 months.
Based on on-chain review, intotheblock data shows that sentiment for ADA is currently bearish, but volume is at a pace before a possible breakout. The rally is expected to cool further over the weekend before resuming next week.
In the case of VET, after more than two weeks of high volume sales, mood has shifted to bearish, and big HODLers’ focus is dwindling.
The 24-hour trading rate has fallen by more than 12%, indicating a price reversal for VET. According to Cryptocompare, over 90% of VET’s trading volume comes from Binance markets, and the stock is reportedly up more than 10% in the last 24 hours.
VET could already be on a bullish run, as demonstrated by an overbought stock spike on Binance. As with ETH, the commodity remains undervalued even at the current price level. ETH was rangebound below $1738, and it could be difficult for volatility to raise and cross the $1738 threshold unless there is adequate liquidity. With ADA cooling, the bullish streak for HOT, VET, and ETH can be extended.
320 Interactions, 8 today