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.

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Shaurya Malwa

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.