Large-cap rivals of smart contract platform Ethereum (ETH) rose on Friday as crypto markets continued to rise.
Cardano (ADA) had the strongest day among large-cap, layer-1 blockchain projects, rising nearly 20% in 24 hours.
The ninth-ranked crypto asset by market capitalization reached its highest price since August 2022 and is trading at $0.546 at the time of writing. The ADA is also up about 43% over the past seven days.
Avalanche (AVAX) also showed a strong performance on Friday, gaining more than 11% in 24 hours. The 11th-ranked crypto asset by market cap is still rising and is trading at $32.10 at the time of writing.
Additionally, Polkadot (DOT) rose almost 9% on Friday, and Solana (SOL) rose 6.5%. DOT traded at its highest level since April, and SOL reached its highest level in 19 months.
By comparison, Ethereum traded sideways on Friday. The second-ranked crypto asset by market cap has a price of $2,366 at the time of writing.
The crypto analysis company Santiment encourages Traders should proceed cautiously regarding the red-hot Ethereum competitors, noting that ADA’s social discussion rate hit a six-month high while SOL’s hit a two-month high. The company says the public “may be a little too euphoric” about both assets.
Total crypto market capitalization rose 2.4% on Friday Coin gecko.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on Tweet, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: Midjourney