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Saturday, May 28, 2022

Altcoins See Major Surge

The market of altcoins has been undergoing major double-digit gains on the 5th of November- even when BTC and ETH are struggling. According to the alt season indicator from Cointelegraph Markets Pro, it has been suggested that the current conditions in the market would line up with the price moves of the previous alt season.

As of now, the price action in the cryptocurrency indicator has not been for those with a faint heart- as it is pretty clear that the volatility that has succeeded the breakouts of Bitcoin and Ethereum has brought forth newer all-time highs.

XYO Lists On Crypto.com As One Of The Performing Altcoins 

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According to data received from TradingView and Cointelegraph Markets Pro, the biggest gainers in the altcoins over the last 24 hours were Crypto.com Coin, XYO Network, and Wrapped NXM.

The XYO Network is a geospatial oracle network that is based on blockchain that would tap into most of the decentralized devices which would validate, collect, and record the data on the XYO Blockchain. According to data that was received by Cointelegraph Markets Pro, the market for XYO has been pretty favorable for quite some time now. 

One of the other altcoins that have been performing steadily is CRO- which is the native token of the ecosystem of Crypto.com, where users would be able to stake it alongside a few other cryptocurrencies in a venture to seek more rewards- all the while utilizing their holdings in order to make everyday purchases via the mobile payments app. 

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The market cap of the cryptocurrency sector- including the altcoins- stands at $2.702 trillion, with the dominance rate of Bitcoin standing at 42.6%.

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