What Is Bitcoin ‘Halving’ and Does it Push Up the Cryptocurrency’s Price?

As of November 2, 2023, the cryptocurrency market is in a state of prosperity, boasting a total value of $1.31 trillion after a 2.88% increase in the past 24 hours. Notably, Bitcoin has crossed the $35,000 mark, exhibiting a 2.8% rise. Furthermore, an extensive array of approximately two dozen digital assets has demonstrated double-digit growth on this Wednesday. Among these, the leading performers for the 24-hour period are the crypto tokens Sushi (SUSHI) and Beldex (BDX), which have stood out with substantial gains compared to their peers.

Explosive 24-Hour Growth for 24 Cryptocurrencies A significant number of cryptocurrency tokens are thriving today, with 24 of them in particular experiencing double-digit increases concerning the U.S. dollar. In contrast, around five coins have observed a decline in value ranging from 2% to 5% within the same timeframe.

SUSHI and BDX Leading the Market Surge with Two Dozen Cryptos Demonstrating Double-Digit Gains Sushi (SUSHI), associated with the decentralized exchange (dex), has emerged as the top performer for this Wednesday. Impressively, SUSHI has surged by over 56% in just one day and has exhibited a remarkable 94% increase over the past week.

Following SUSHI in terms of 24-hour gains is the coin Beldex (BDX), a pivotal component of the Beldex private ecosystem. BDX has witnessed a substantial 38% increase in the last 24 hours, and its performance over the previous seven days reflects a 34% rise.

Celo (CELO) secured the third spot with a notable 27% increase on Wednesday, while PancakeSwap (CAKE) also enjoyed a 27% growth within the past day. Other notable leaders on November 2 include JST, MASK, ROSE, AAVE, UNI, and MANA.

On the flip side, the most significant losers against the U.S. dollar today are POLY, OMI, RLB, BONE, and WLD. POLY has experienced a decrease of slightly over 5%, while OMI has gone down by 4.47% in the past 24 hours. RLB has seen a 4.3% decline, BONE has exhibited a 2.9% decrease, and WLD has recorded a 2.4% slide.

While the majority of the market is on an upward trajectory, approximately 15 digital currencies have declined concerning the U.S. dollar. In terms of trade volume, USDT, BTC, ETH, and USDC lead the way, followed by SOL, XRP, LINK, and DOGE. Solana (SOL) has witnessed a substantial $3.78 billion in trades over the past 24 hours, while XRP has experienced $1.88 billion in trading volume.

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