The crypto market has not been able to break the downtrend since the beginning of 2022. After a short period of gains, its momentum was always southward for most of the first quarter. The crypto market, led by Bitcoin (BTC) and Ethereum, seems to have started to breathe a little easier these days. Bitcoin is still in a downtrend, while Ethereum (ETH), Solana (SOL), Cardano (ADA), Polygon (MATIC) and FTX Token (FTT) are showing bullish signs.
The most important altcoin of the market, Ethereum (ETH), is trading at about $ 2,422 at the time of writing, rising by 2% in the last 24 hours. Although ETH exhibits a price performance of almost half of its ATH of $ 4,800, perhaps this rise can be a precursor to a serious increase. ETH has been hovering below $3,000 since April 21, affecting both the NFT market and many projects on the Ethereum network.
Solana (SOL), another important altcoin for the NFT market alongside Ethereum, is trading at around $72.8 at the time of writing, up 3% in the last 24 hours. SOL was last able to reach $ 94 on May 5, but could not consolidate above it. SOL, which has been on the decline since then, is on the rise today by breaking the devil's leg. In addition, Cardano, which is expected to update the Vasil hardfork in June, joins these two altcoins and becomes one of the rising altcoins. At the time of this writing, ADA is trading at around $0.686, up over 4% in the last 24 hours.
The most profitable tokens of the day are Polygon's MATIC and FTX Token's FTT. At the time of this writing, MATIC is trading at around $0.971, up close to 10% in the last 24 hours. FTT, on the other hand, is trading at around $34.4, at the time of writing, with an increase of over 7% in the last 24 hours. FTT, which is gaining more than $2 per day, and MATIC, which has been in a downtrend for a long time, manage to break their declines since May 5th.
In this process, BTC continues its declines with its price, which is still around $ 32,000. Normally, the market is watching altcoin charts that mostly go the way of BTC, today it is watching the rise of these 5 important altcoins independent of BTC.