Crypto majors XRP and Solana (SOL) tokens led the way in gains over the past 24 hours, as Bitcoin posted steady growth, according to data from CoinDesk. Rollbit (RLB) and Unibot (UNIBOT) tokens drove the most gains for traders on separate catalysts. Rollbit announced plans to buy and burn its tokens using platform revenues daily, while Unibot rose on increasing social sentiment for its tokens. Moon (MOON) tokens, based on Reddit, posted a second day of growth with a 14% rise.
FxPro senior market analyst Alex Kuptsikevich believes the recent growth of crypto likely came as investors digested a new wave of concerns about banks following Moody’s downgrade of ten mid-sized US banks and an unexpected Italian windfall tax. “Investors are piling into the largest cryptocurrencies to preserve large amounts of capital to stay far from the banks, where deposit guarantees apply to not-so-large sums,” Kuptsikevich said. “Technically, the market made its second failed attempt this month to get back above the 50-day average. The ability to consolidate above $30,000 will be a milestone, cementing the breaking of the downtrend of the last four weeks,” he added.