The cryptocurrency market has been trading in a consolidation range since the middle of the week after a price surge initiated on October 19. However, three cryptocurrencies continue to reap significant gains this Saturday (October 28).
Notably, THORChain (RUNE), Injective (INJ), and Render (RNDR) demonstrate continuation in a bullish trend for 9.34%, 6.95%, and 6.06% gains, respectively. Finbold retrieved the mentioned data from CoinMarketCap’s top gainers index in the last 24 hours, among the top 100 cryptocurrencies.
Meanwhile, the CRYPTOCAP index entered the consolidation range between $1.20 trillion and $1.26 trillion total market capitalization. This index created by TradingView measures the market cap of all cryptocurrencies.
At the time of writing, the cryptocurrency market value is at $1.23 trillion, in the middle of the mentioned consolidation range.
THORChain (RUNE) price analysis
Interestingly, THORChain is making a comeback after being involved in a controversy one week ago that also affected its price. One of its user-friendly interfaces, THORSwap, was forced to comply by censoring some transactions involved in a hack.
RUNE is now trading at $2.53 by press time, ranked in the 49th position by market cap, and showing strength in the daily price action. Over $113 million in RUNE was traded in the last 24 hours.
Injective (INJ) price analysis
Injective decoupled from the crypto market this week for extraordinary gains in an extended period of time. Despite being reportedly indexed in the ‘Overbought’ zone by high RSI points, this Cosmos’ protocol continues its uptrend for one more day.
The token INJ is trading at $13.38 at the time of publication, already up by $0.02 dollars since the “Top Gainers” screenshot shown at the start of this report. It also has the highest volume among the three gainers, with over $143 million traded in 24 hours.
Render (RNDR) price analysis
Meanwhile, Render is a top-48 cryptocurrency by market cap. It is a “distributed GPU rendering network” built on top of the Ethereum blockchain. According to the project’s description, Render aims to “connect artists and studios in need of GPU computer power with mining partners willing to rent their GPU capabilities out.”
By the time of writing, RNDR is trading at $2.35, with approximately half of Injective’s volume. The token registered a $75 million exchange volume in the last 24 hours during its daily price rally.
In such a volatile market, cryptocurrencies can vary among the top gainers and top losers in the blink of an eye. The cryptocurrency space is continuously changing, and different projects get the spotlight every day.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
