ADA, SHIB, and AVAX all post moderate gains as Bitcoin attempts $24K again CardanoADA Shibainu Avalanche
gains at press time, posting a 24-hour positive change of 3.71%, 4.14% and 4.73%, respectively. A slight recovery in the price of Bitcoin on Aug. 8 sparked modest increases in alternative cryptocurrencies, known as"altcoins."
Bitcoin continued its rebound on Monday as investors turned to digital assets in the wake of robust U.S. jobs data. The largest cryptocurrency by market value rose as much as 4.38% to trade above $24,000 at press time, while Ethereum was up 5% at around $1,787. The cryptocurrency market was aided partly as similar moves were seen in European stocks and U.S. equity futures after the strong payroll print suggested the U.S.
Altcoins added to the sea of green, with several posting mild increases at press time. Avalanche's AVAX token received a slight boost following the news of its listing on stock brokerage Robinhood. In recent times, the prices of Bitcoin and other cryptocurrencies have become increasingly affected by traditional market drivers like monetary policy. With another 75 basis-point rate hike next month now the favored outcome, investors are bracing ahead of Wednesday's inflation report.
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