(Monday 12 August 2024, 11:19 AM GMT):
The cryptocurrency market is experiencing a slight downturn today as the price of Bitcoin (BTC) goes down by 2.02% in last 24 hr. While there haven’t been any major price movements among altcoins, some are attracting significant attention from smart money investors.
Despite bearishness, several altcoins are experiencing impressive surges, particularly Curve Dao (CRV), Aave (AAVE), and Lido Dao (LDO). These tokens have seen significant inflows, driving their prices higher.
According to data from Nansen, here’s a breakdown of the 24-hour inflow and price movements for these altcoins on the Ethereum network:
1. Curve DAO (CRV):
- Inflow: $576,848
- Current Price: $0.2831
- 24-Hour Change: +10.80%
- CRV has seen over $576K in inflows, which has contributed to its price gaining 10.80% in the past 24 Hr.
2. Aave (AAVE):
- Inflow: $973,335
- Current Price: $96.97
- 24-Hour Change: 3.74%
- AAVE has attracted significant funds, resulting in a 3.74% price increase.
3. Lido Dao (LDO):
- Inflow: $166,463
- Current Price: $1.11
- 24-Hour Change: +1.97%
- LDO has also experienced strong inflows, pushing its price up by 1.97% over the last 24 hours.
These inflows reflect the growing interest from sophisticated investors in these projects, with CRV, AAVE and LDO notably benefiting from this attention.
As Bitcoin’s price fluctuating at $59K, it will be interesting to see how these altcoins perform in the coming days, especially with smart money showing a clear interest in them.
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