After inflation reached a four-decade high, the U.S. Federal Reserve decided to reduce stimulus benefits and stop buying government bonds. The crypto market saw an increase of almost $59 billion over the last day.

Top cryptos

Solana is today’s biggest winner. Solana’s live price is $180, with a daily trading volume of $3.76 trillion. It is rapidly recovering from its losses. It has gained 10% in the past 24 hours.

Bitcoin traded at $48,000 today, up about 1%. Ethereum rose by around 4% while Cardano was up about 3% and XRP experienced gains of approximately 1.1%.

Avalanche continues yesterday’ surge on news of adding USDC to its platform. Terra gained 10% today, and 15% in the 24 hours since yesterday.

Dogecoin and Shiba Inu saw slight growth after yesterday’s rise, which followed an announcement by Elon Musk that he would start accepting payments in DOGE for some merchandise.

Top Movers

Kadena is a unique ecosystem featuring the only scalable layer 1-POW blockchain. It has seen 22% growth in the last 24 hour. Kadena has Pact, the most secure smart contract language. Today’s live Kadena price is $11.76, with a trading volume of $62.5 millions over 24 hours.

XDC Network’s token XDC has gained 22% today. XDC network, a enterprise-ready hybrid blockchain tech company, is optimized for international trade. The XDC protocol supports smart contracts, 2000TPS and two-second transaction times.

Stacks, a layer-1 blockchain solution that is designed to bring smart contracts and decentralized applications to Bitcoin, is rapidly reversing losses. It has gained 19% within 24 hours.

Helium is a blockchain-powered decentralized network for Internet of Things devices. It has seen a 16.83% increase in its value over the past 24 hours.

Fantom is a decentralized acyclic graph smart contracts platform offering financial services to developers via its own unique consensus algorithm. Fantom’s stock price has risen 13.49% over 24 hours.

Hedera’s price has increased 10.83% in 24 hours. It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face — such as slow performance and instability.

Today’s Elrond live price is $319, with a trading volume of $406 millions over the 24-hour period. Elrond’s price has increased by 12% over the last 24 hours.

Harmony, which received +14%, and Arweave (+17%) were also winners. Immutable X, the first layer-two scaling solution for NFTs on Ethereum, gained 12% today. WAX is now up 11%

Last but not least, there is Horizen, a self-described zero-knowledge-enabled network of blockchains powered by the largest node infrastructure in the industry. It cracked the top 100, almost 20% higher today.