Cryptocurrencies continue to rise on good US inflation data

As the crypto market has managed to gain momentum in the past few days and get back up on its feet, a number of tokens have surged. The rise in their value can be traced back to the start of this year. The last year could simply be described as an unending nightmare for the crypto market and investors. Not only did cryptocurrencies lose great value, but investors suffered irreparable losses.

Similarly, a number of aspiring crypto-based projects were permanently halted, and many firms went bankrupt. Keeping those issues aside, many believe that cryptocurrencies would finally be on their way to recovery this year. It is necessary to keep in mind that the surge in value can be a result of good inflation data and increased investor confidence.

Some Major Cryptocurrencies that Surged in Value

Some of the major cryptocurrencies that displayed an impressive increase over the last few days have been mentioned as follows.

BTC: Bitcoin (BTC) is one of the many cryptocurrencies that displayed a remarkable increase. Just a few days ago BTC crossed the $17k resistance barrier. At the time of writing, BTC has shown an increase of 0.96% over the last 24 hours, and almost 12.70% since last week. Similarly, it is trading for almost $18,985.

ETH: The next crypto on the list is ETH. As of now, the token is trading for approximately $1,410. Keeping the trading price in mind, ETH is up by an impressive 12.74% since the past week. Unfortunately, the price has witnessed a decline of nearly 0.90% in the last 24 hours.

ADA: Among the other cryptocurrencies on the list is ADA. The token has displayed an increase of 23.58% since last week. At the same time, it is up by nearly 0.24% in the last 24 hours. Keeping the increase in mind, ADA is currently trading for $0.3304.

Cryptocurrencies continue to rise on good US inflation data

SOL: At the time of writing, SOL is trading for almost $16.57. Apart from the trading price, the token is up by 0.30% since the previous 24 hours. On the other hand, SOL witnessed an increase of a whopping 25.49% since the previous 7 days as well.

SHIB: The next crypto on the list is the popular meme coin, SHIB. Just like the rest, the meme coin, too, began trading fundamentally higher. At the time of writing, the token is trading for $0.00000963. SHIB is up by almost 1.91% as of today.

XRP: The last of the many cryptocurrencies to trade higher is XRP. As of now, the token has unfortunately displayed a decrease of 0.19%. Despite that, XRP is trading for almost $0.3748.