Today's Crypto Market Is Down Despite Showing Resilience

Its market capitalization dropped to $2.76 trillion after registering a 0.09% fall over the past 24 hours.

Today, the crypto market is down though showing resilience. Its market capitalization dropped to $2.76 trillion after registering a 0.09% fall over the past 24 hours. Its transaction volume decreased by 29.45% to $42.62 billion. The fear and greed index dropped to 27 from yesterday’s 32. This means the market is still in a fear zone, signifying investors are currently feeling bearish and cautious about crypto assets.

Why the market down today?

The continuing trade tensions have substantially affected investor enthusiasm, reflected in the recent declines in tokens’ prices. The market is witnessing a significant drop in trading activity. This signifies that investors shifted their trading behavior, especially rechanneling their funds towards safer assets amid geopolitical unrest. Market analysts believe that tensions associated with tariffs could remain until next month when possible agreements could restore market conditions. This concern has triggered a slump in trading activity.

Today, Bitcoin is down after it failed to surpass the crucial resistance level of $85k, currently standing at $84,262, after seeing a 0.02% drop over the past 24 hours. Ether saw a surge of 0.94%, which currently placed its value at $2,005. Most cryptocurrencies continue their correction trend, with the likes of XRP, BNB, and Cardano are currently down 0.48%, 1.47%, and 0.01% respectively.

Top gainers today

Curve DAO Token (CRV)

Curve DAO Token emerged as the top performer in today’s crypto market with a price growth of 7.79% over the past 24 hours. The altcoin has indicated impressive price action today, reaching a high of $0.4904, reflecting a notable upward movement. Besides that, CRV’s price has been up 17.7% over the past two weeks. The price rally appears attracting long-term buyers, hoping for future growth prospects.

Bitget token (BGB)

Bitget token took second position with a price rise of 3.77% over the period. The rise of BGB has been incredible. It is one of the few crypto assets that have sustained their uptrends. Its value has been up 7.4% and 426.9% over the last seven days and one year ago respectively. The asset’s ongoing price movement suggests robust investor confidence in the token and heightened market activity in its network.

Pyth Network (PYTH)

Pyth Network settled on the third place with today’s price surge of 3.33%. The asset has standout with its impressive performance. Its value has been up 6.6% over the past week, indicating buying interest continues building. This remarkable rise is also seen in its trading volume, which has recorded a 53.20% jump over the past 24 hours, showing renewed interest and robust bullish sentiment.

Jupiter (JUP)

Jupiter also made headlines today with a price rise of 2.86%. Its recent upward movement has attracted significant attention. As its value rose by 2.1% over the past week, questions linger in users whether JUP would continue its momentum. Open Interest (IO) on Jupiter increased by 14.93% over the past 24 hours, indicating that more derivatives traders are entering the market, suggesting a rising confidence in the asset’s price momentum.

Pi coin (PI)

Pi coin wrapped this list of top five garners in today’s crypto market with a price growth of 2.64%. It has captured the interest of the crypto community since its launch a month ago. Following its debut, Pi gained over 290% rise, with its price climbing past $2.16. Despite a recent decline, its value is currently standing at $1.02. The key catalyst for the enthusiasm around the token is its recent listing on several exchanges, which now support the asset, making it easier for investors to trade.

The above is the detailed content of Today's Crypto Market Is Down Despite Showing Resilience. For more information, please follow other related articles on the PHP Chinese website!