Crypto On April 26: Top Coins Gain, Dogecoin Jumps On Musk's Twitter Buy

The cryptocurrency market zoomed Tuesday, a day after trading in the red as a majority of the top coins gained momentum. Meme crypto Dogecoin zoomed over 25%, becoming the top mover in the market.

The global market cap rose 4.06% at $1.86 trillion as of 3.22 a.m. ET, CoinMarketCap data showed.

Dogecoin surged 25.3% to $0.1582. This came as Twitter accepted Tesla CEO Elon Musk’s $44-billion-proposal for acquisition.

"DOGE’s price surge has outperformed the crypto markets considerably," WazirX trade desk told International Business Times.

Bitcoin rose 4.49% to $40,522. WazirX tied this also to Musk's Twitter buy. "This mega-deal could play out in favour of the crypto markets, triggering a bullish trend since Musk is an advocate of crypto tokens like Bitcoin and Dogecoin," the Indian exchange said.

Ethereum, too, surged 5.88% to $2,996. Barring a slight dip in Tether, all other top 10 tokens surged. Meme crypto Shiba Inu too gained.

Cardano gained 3.69%. Cardano's block size will be increased 10% in its latest update, which in turn would mean faster transactions and a better DApp experience. Meanwhile, analysts indicated that Cardano’s current price is at an opportunity level for bulls, based on one of the on-chain metrics.

In other news, Brazilian soccer player Ronaldinho has partnered with the decentralized exchange P00LS to launch his own token, called RON. The ERC-20 token will be formally launched and can be earned on the P00LS platform Thursday, the company said Monday.

The crypto market is extremely volatile and experts recommend investors not make decisions based on the sudden shift in prices.