Markets
Top Crypto Assets Defying Bearish Market Outlook
Crypto assets are trading in the red zone for the second day in a row, with some coins recording double-digit losses. To date, market capitalization has fallen 0.5% in the last 24 hours, with a massive 41% decline in trading volumes.
The drop in market prices is linked to macroeconomic factors, the Securities and Exchange Commission’s position on most assets and industrial factors affecting some currencies. Although declining sentiments have led to low market prices, some crypto assets increase trading against the market, triggering bullish pressure. Here are the top assets turning green today.
BNB
BNB trades at $592, up 1.17% in the last 23 hours, turning the tide after a negative outlook. The asset has a market capitalization of $87.5 billion and a 24-hour trading volume of $1.3 billion. Although volumes remain low due to low overall sentiment, the crypto asset has broken out of the previous low.
BNB it is now up 1.25% this week, showing strength as bulls target another run into the market. Although monthly flows are still negative, recent performance has brought optimism to the market.
Toncoin (TON)
Toncoin price rose 2% today to $6.87. The asset has recorded recent highs amid new developments surrounding the ecosystem. From the token distribution announcement to the HashKey listing, TONNE marked a series of positive developments.
Just like BNB, asset trading volumes fell for TON coins as bulls attempt a short-term recovery. Toncoin outperformed the market this week, showing a massive 18% upward move.
Litecoin (LTC)
Litecoin price is at $81.60, up 1.80% today, moving away from other crypto assets. The currency’s market value is over US$6 billion, with day trading volume recovering, although still in the red zone. Daily volumes on the Litecoin network are expected to recover with the broader market.
Crypto assets have faced significant corrections in the last 48 hours as major assets such as Bitcoin and Ethereum plummeted.
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