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On a largely favorable day for cryptocurrency markets, traders shifted their focus to altcoins in search of leading crypto performers today, with several assets surpassing Bitcoin (BTC) by a significant margin.
Bitcoin remained stable within the $58,000 to $60,000 range on Monday.
Traders are exercising caution ahead of the upcoming release of US CPI inflation data later this week.
“July core CPI data to leave the door wide open to rapid Fed easing” @IanShepherdson https://t.co/2L5LM7xb8A #PantheonMacro pic.twitter.com/NwNOBWNoTl
— Pantheon Macro (@PantheonMacro) August 12, 2024
If the data indicates a stronger case for a more significant rate cut from the Fed next month, the CPI release could serve as a positive trigger for Bitcoin and the wider crypto market.
While BTC remained stable, several altcoins experienced notable gains.
Ethereum (ETH) managed to increase by over 6% in the last 24 hours, while others surged even more.
Here are some leading crypto performers today that investors will be monitoring.
Top Crypto Performers Today
1000SATS (SATS)
The meme coin 1000SATS (SATS) is among the top crypto performers on Monday, rising over 20% in 24 hours according to CoinMarketCap.
Last priced at $0.00000032, SATS is targeting a retest of support-turned-resistance in the $0.00000036 region.
A breakout above this level could see SATS rally back to its March highs exceeding $0.00000080.
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Sui (SUI)
The layer-1 protocol Sui (SUI) continues to rise sharply in anticipation of heightened institutional investor interest following Grayscale’s introduction of a Sui-linked investment product.
BREAKING NEWS: Leading crypto asset manager @Grayscale has just added $SUI to its list of investment products!
This paves the way for Sui’s mass adoption, with Grayscale recognising Sui’s innovations in smart contract development.https://t.co/CwR2N8EFaM pic.twitter.com/MNJsptLkla— 0xMedia (@0xmediaco) August 8, 2024
BREAKING NEWS: Leading crypto asset manager @Grayscale has just added $SUI to its list of investment products!According to CoinMarketCap, SUI increased by 17% in 24 hours, making it one of the top crypto performers today.
SUI was last trading around $1.025, having surpassed key resistance represented by its 50DMA.
This could indicate a potential rally to March highs close to $2.20.
ORDI (ORDI)
The Bitcoin-based protocol Ordinals native token ORDI (ORDI) has risen an impressive 16% on Monday, according to CoinMarketCap. This positions it as one of the top crypto performers today.
However, last priced at $31, ORDI remains entrenched in a long-term downtrend since it reached its peak in early 2024 near $100.
ORDI will need to convincingly break above its 50DMA at $34 to initiate a longer-term bullish trend.
The post Top Crypto Performers Today – 1000SATS, Sui, ORDI appeared first on Cryptonews.
