Bitcoin rallies after Japan rate increase with XLM, INJ, UNI advancing
Key takeaways
- The largest cryptocurrency has added 1.5% over the past 24 hours, continuing its recovery from a June 5 low below $60,000.
- Stellar’s XLM, Injective’s INJ and Uniswap’s UNI rose between 13% and 16%, ranking among the best performers in the top 100 cryptocurrencies by market capitalization.
- Memecoin SIREN extended its decline, falling another 21% in 24 hours.
The largest cryptocurrency has added 1.5% over the past 24 hours, continuing its recovery from a June 5 low below $60,000. Several altcoins posted even stronger gains.
Stellar’s XLM, Injective’s INJ and Uniswap’s UNI rose between 13% and 16%, ranking among the best performers in the top 100 cryptocurrencies by market capitalization. UNI's gain comes after Standard Chartered initiated coverage of Uniswap and set a long-term price target for the token of $100 by 2030.
Memecoin SIREN extended its decline, falling another 21% in 24 hours. The token has now lost a staggering 77% month-to-date. Blockchain data trackers on X pointed to a large holder, or whale, offloading coins representing 92% of the token’s supply as the main driver behind the collapse.