XRP, SOL Lead Crypto Market Bounce; RLB and UNIBOT Surge on Bullish Sentiment

Trading volumes for rollbit tokens grew 500% on a revamped token buy-and-burn plan.

AccessTimeIconAug 9, 2023 at 9:41 a.m. UTC
Updated Aug 9, 2023 at 3:27 p.m. UTC

XRP and solana's SOL led gains among crypto majors as bitcoin (BTC) posted steady growth in the past 24 hours, data from CoinDesk show.

Alternative tokens rollbit (RLB) and unibot (UNIBOT) drove the most gains for traders on separate catalysts. Crypto casino Rollbit unveiled plans to buy and burn its tokens using platform revenues daily, while Telegram bot Unibot rose on increasing social sentiment for its tokens – igniting growth.

Elsewhere, Reddit-based tokens moon (MOON) posted a second day of growth with a 14% rise.

FxPro senior market analyst Alex Kuptsikevich opined the recent growth of crypto likely came as investors digested a new wave of concerns about banks following Moody's downgrade of ten mid-sized US banks and an unexpected Italian windfall tax.

“Investors are piling into the largest cryptocurrencies to preserve large amounts of capital to stay far from the banks, where deposit guarantees apply to not-so-large sums,” Kuptsikevich told CoinDesk over email.

“Technically, the market made its second failed attempt this month to get back above the 50-day average. The ability to consolidate above $30,000 will be a milestone, cementing the breaking of the downtrend of the last four weeks,” Kuptsikevich added.

Edited by Omkar Godbole.


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Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

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