Most Popular Crypto Coins Today October 14 – Ethereum Name Service (ENS), Quant (QNT), Algorand (ALGO), Tamadoge (TAMA)
The global cryptocurrency market unexpectedly rallied on Thursday despite negative inflation data after the release of the US Consumer Price Index (CPI).
The news that inflation was once again at 8.2% led to a quick and drastic sell-off in coins – with Bitcoin falling to a low of $18,319.82 – before an unexpected and massive recovery in both crypto and traditional markets.
BTC pumped to $19,835.17 – an 8.2% gain at its low – in 12 hours with volume up 76% on the previous day.
As CryptoNews reported earlier on Friday, many Bitcoin traders and analysts expect more short-term gains with $21,000 in play.
The overall crypto market saw a 5% increase to $950 billion as volume reached $355 billion – marking only the second time volume had hit $300 billion since early August.
A number of altcoins have performed even better:
Ethereum Name Service (ENS)
Ethereum Name Service (ENS) was by far the top coin on Thursday and Friday, reaching highs of $20.25 as trading volume surged 95% to over $250 million.
ENS is now up 11% in the last 24 hours at the time of writing and almost 12.5% on the seven-day chart.
The price had been as low as $16.18 on Tuesday, October 11, meaning the coin gained 25% in that time.
ENS, which has more than 2 million addresses and a user base of 500,000, could be set for more gains in the coming weeks.
In late September, Coinbase announced its intention to release ENS domains to users who want simplified transactions.
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Quant (QNT)
Quant has pulled back a bit, but the QNT token is still up almost 6% after volume increased by 59%.
Its 24-hour high saw the token nearly reach $175 – its highest price since January.
Quant has been flying in recent weeks and is now up nearly 20% in seven days, 67% in a month and nearly 300% since June’s low.
Quant has continued to push for its use in central bank digital currencies (CBDC) and increased chatter around the implementation of this technology appears to be driving growth.
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Algorand (ALGO)
Algorand is another sleeping giant – and another coin linked to CBDCs – that has recently found some love after a rough 2022.
Algorand (ALGO) is one of the most scalable and energy-efficient blockchains out there, and its links to world-leading university MIT – the founder is a professor – indicate that it should be well positioned for institutional adoption in the near future.
ALGO saw a huge sell-off soon after CPI data was revealed – falling to $0.2887 before rising 14% to $0.3289.
It remains down on the seven-day chart.
Buy ALGO on eToro
Tamadoge (TAMA)
The TAMA token has endured a lot of volatile movement over the past week, but the new project ticked off two key hallmarks on its roadmap this week.
The first 100 Tamadoge NFTs were sold on OpenSea and became the most popular collection on the site after seeing 258ETH worth of sales.
Investors paid as much as 6ETH for one of the ultra-rare pets, which will be at the center of the new play-to-earn game based on the 90s craze Tamagotchi.
The project developers also released screenshots and development images of the secondary game, Enter the Tamaverse, which was extremely well received by the community as it evoked memories of popular side-scrolling platformers Mario and Sonic the Hedgehog.
Buy TAMA at OKX
