(Saturday 29 June 2024, 08:51 AM IST):
On a quiet Saturday morning, the cryptocurrency market experienced a noticeable bearish trend. Both altcoins and memecoins saw a decline, largely influenced by the falling prices of Bitcoin (BTC) and Ethereum (ETH). Despite recent news about a Solana Spot ETF, the market remained unimpressed and failed to recover.
As of now, Bitcoin (BTC) is trading at $60,632, down by 1.86%, with a market capitalization of $1.19 billion. The key support level to watch is around $60,000. Observers are keen to see if BTC can make a pullback or if it will face a sharper decline. Similarly, Ethereum (ETH) has decreased by 2.14% in the past 24 hours, now priced at $3,379 with a market cap of $406 billion.
Altcoins Show Strength
Despite the overall bearish trend, some altcoins have shown resilience and strength:
Quant (QNT): Leading the way among Real-World Asset (RWA) tokens, Quant (QNT) surged by 6.86%, trading at $78.37. Its market cap stands at $944 million, indicating strong investor interest and market confidence.
Arweave (AR): Arweave, a Decentralized Permanent Information Network (DePIN) token, also saw an increase of 3.53%, trading at $27.03 with a market cap of $1.78 billion. This slight rise reflects steady support from its community and investors.
UNUS SED LEO (LEO): LEO recorded a modest gain of 2.81%, trading at $5.937 over the past 24 hours. With a market cap of $5.50 billion, LEO’s performance shows that it remains a strong player in the market despite the broader bearish trend.
While the market faces challenges with major cryptocurrencies like Bitcoin and Ethereum struggling to regain their bullish momentum, the strength shown by altcoins like Quant, Arweave, and LEO provides a silver lining for investors.