LINK, MATIC, ETH surge amid capital boost in the altcoin market

• The cryptocurrency market saw a 0.18% increase in total market capitalization.
• Bitcoin’s price decreased by 0.37%, while Ethereum increased by 0.86%.
• Chainlink recorded a notable 4.47% increase in the last 24 hours.

The cryptocurrency market largely experienced gains during the previous trading day. Current data from CoinMarketCap shows a 0.18% increase in the total market capitalization during this time. However, despite this minor growth over the last 24 hours, traders and investors needed a clear agreement about the market’s future trajectory.

In the last 24 hours, Bitcoin , the leading cryptocurrency, experienced a 0.37% decrease in its price. On the other hand, Ethereum , the largest altcoin by market capitalization, saw a 0.86% increase in the same timeframe. Consequently, BTC was trading slightly under the $27K level, specifically at $26,933.43. At the time of reporting, the price of ETH was $1,673.28.

Most funds injected into the market in the last 24 hours appear to have been allocated to altcoins, with Polygon also recording a daily profit. CoinMarketCap data shows that the altcoin’s price increased by 0.44%. This recent surge elevated MATIC’s weekly performance to +0.82% and raised its price to $0.5258.

Even though there was a surge in its price, MATIC experienced a 9.10% decrease in its 24-hour trading volume. As a result, the total trading volume of the cryptocurrency across all exchanges was approximately $235 million at the time of reporting.

Over the last 24 hours, Chainlink has been the standout performer, recording a notable 4.47% increase. This recent surge has further bolstered the altcoin’s impressive weekly performance, pushing it further into positive territory. As a result, LINK’s price has risen by 15.69% over the past week, reaching $8.12.

LINK’s 24-hour increase resulted in it securing a position on CoinMarketCap’s trending list. As of the reporting time, the digital currency held the 5th position on the list. This placed it one rank below Terra Classic and immediately above the well-known meme coin Shiba Inu .