Bitcoin Again Takes U-Turn, While Akash Network, Gnosis and Injective Making Gains

Bitcoin Again Takes U-Turn, While Akash Network, Gnosis and Injective Making Gains


(11 June 2024, 11:08 AM IST):

On the morning of Tuesday, the cryptocurrency market witnessed a bearish turn as Bitcoin (BTC) took a sharp U-turn from the $71,000 level. This latest drop saw Bitcoin fall to $67,000, causing a ripple effect that led to dips in other major altcoins like BNB, TON, and Solana.

Bitcoin’s Downtrend

Analyzing the charts, Bitcoin may continue its downward trend, potentially reaching $67,200 in the coming hours if this bearish momentum persists.

As of now, Bitcoin (BTC) is trading at $67,862, down by 2.46% in the last 24 hours, with a market capitalization of $1.34 trillion. Similarly, Ethereum (ETH) has also seen a decline, dropping 3.41% to $3,560 over the past 24 hours, bringing its market cap to $428 billion.

Top Gainers: Akash Network, Gnosis, and Injective

Source: Coinmarketcap

Despite the overall market downturn, a few cryptocurrencies have managed to record impressive gains. Notably, Akash Network (AKT), Gnosis (GNO), and Injective (INJ) have all shown strong performances.

1.Akash Network (AKT)

Akash Network (AKT), an AI-focused coin, has made a significant comeback, jumping by 11.26% over the last 24 hours to reach $4.70. The market cap of AKT now stands at $1.12 billion. Over the past 30 days, the AKT token has surged by 8.15%, reflecting growing investor confidence.

2.Gnosis (GNO)

Gnosis (GNO), a decentralized exchange (DEX) token, has also been in the spotlight today, with its price surging by 8.43% to $351.33. Gnosis’ market cap currently sits at $909 million. In the last 7 days, Gnosis has seen a gain of 6.59%, indicating positive momentum.

3.Injective (INJ)

Injective (INJ) has seen a price increase of 4.16% over the last 24 hours, reaching $28.50. Injective’s market cap is now $2.67 billion. The token has experienced a substantial surge of 13.88% in the past 7 days, showcasing strong market performance.

In Summary, Bitcoin and several other major cryptocurrencies face a bearish phase, Akash Network, Gnosis, and Injective are defying the trend with notable gains.

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