Crypto On March 24: Market Continues To Surge; Cardano, Dogecoin Become Top Movers

The cryptocurrency market continued to gain momentum for the third consecutive day on Thursday. Cardano and meme crypto Dogecoin became top movers of the market.

The global market cap was up 2.66% at $1.96 trillion as of 3.06 a.m. ET, CoinMarketCap data showed.

Cardano moved 14.33% up to $1.11. The top coin has been moving up since it completed its latest network update.

Dogecoin surged 11.20%. Barring Tether and USD Coin, all of the top 10 cryptos traded in the green. Meme crypto Shiba Inu too rose.

While Bitcoin was up 2.23% at $43,153, Ethereum rose 3.25% to remain above the $3k mark.

On the gaining momentum of the market, Jay Hao, CEO of OKX.com, a global crypto exchange, said, "The rise of Altcoins indicates towards higher risk appetite among investors, LRC (the native token of Ethereum scaling network Loopring) is the newsmaker of the day with a 34% jump in its prices after it announced the partnership with Gamestop for the NFT marketplace."

However, Hao said, " The markets are expected to remain choppy due to growing geopolitical tension and hawkish stance by Fed in an interest rate hike."

In another positive update, cryptocurrency lender Nexo has announced the launch of its venture arm to invest $150 million in Web3 development. Nexo Ventures will focus on Web 3, decentralized finance (DeFi) innovation, non-fungible tokens (NFT), metaverse and GameFi as well as payments and trading infrastructure and compliance services.

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