The US Fed’s 0.2% rate cut has sparked the price of several cryptocurrencies, with Bitcoin hitting $117,000 from its previous $110,000 range. Multiple altcoins have surged in the wake of the rate cut, pushing the total crypto market cap $4.07 trillion. Across different regions, several coins have been trending, and in the UK, Trust Wallet Token (TWT), APX (APX), and Litecoin (LTC) are the top trending coins, according to CoinMarketCap. These coins are ranked within the top five at the time of reporting.
Trust Wallet Token (TWT)
Current price: $1.11
Market cap: $461.81 million
Trust Wallet Token (TWT) serves as the native utility token for Trust Wallet, a leading non-custodial crypto wallet acquired by Binance. TWT holders can participate in community governance and voting on different proposals. In intraday trading, TWT went up to $1.32, dropping to its current price of $1.11. The token easily crossed the $1.10 support level and is now climbing to tap $1.62 resistance level. Its price has been gradually going up since yesterday.
$405.58 million is TWT’s 24-hour trading volume, and its market cap is high by 87.51%. Nearly 264,050 people currently hold the coin.
APX (APX)
Current price: $0.633
Market cap: $95.13 million
APX has been trading steadily at nearly $0.09 for a long time, showing limited volatility. However, as September arrived, the coin performed exceptionally well, even trading at $0.76. APX broke its $0.09 price range on September 17 and suddenly skyrocketed to $0.76 on the last day. The community sentiment towards the coin is 78%, indicating a strong bullish trend and growing investor confidence.
The trading volume of APX is currently high at $87.4 million, marking a 53% increase over the past 24 hours. The token now has nearly 31,770 holders.
Litecoin (LTC)
Current price: $117.61
Market cap: $674.36 million
Litecoin (LTC), created in 2011, is a peer-to-peer cryptocurrency designed as a lighter version of Bitcoin. LTC’s price hovers at $117.6 and is slightly up in the past 24 hours. The $104 -110 range support zone was a hurdle that LTC surpassed last month. This support zone was also once a resistance point for the coin. LTC has been uptrending since the beginning of September, following a short fall.
The 24-hour trading volume of Litecoin stands at $668.77 million, with nearly 10,2910 traders currently holding the token.
The Fed rate cut has clearly injected a green signal into the crypto market and notable coins have surged in price and trading volume. As LTC, APX, and TWT show bullish characteristics, their prices are expected to surge in the coming days. With solid resistance and support levels broken and new resistance zones in sight, the three tokens are likely to continue their journey upward in the near term.
