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Bitcoin Struggles, While Jamsycoin, Ordinals and Arweave Going Higher


(31 May 2024, 11:05 AM IST):

On Friday morning, the cryptocurrency market continues bearish sentiments and fluctuations, with Bitcoin’s price fluctuating around the $68,000 mark for the past 11 days. Despite the bullish momentum following the approval of the Ethereum spot ETF, Bitcoin has struggled to surpass the $71,000 threshold. The recent news of a $9 billion BTC transfer from Mt.Gox has further dampened market sentiment. Additionally, the memecoin rally, including tokens like Pepecoin, Dogewhifhat, Bonk, and Maga, has faded since yesterday.

In contrast, several altcoins are standing out with impressive gains. Jamsycoin (JASMY), Ordinals (ORDI), and Arweave (AR) are today’s top gainers, capturing the market’s attention.

Bitcoin (BTC) and Ethereum (ETH) Overview

Currently, Bitcoin (BTC) is trading at $68,310, up by 0.45% in the last 24 hours, with a market cap of $1.35 trillion. Ethereum (ETH), on the other hand, has dropped by 0.95%, trading at $3,738, with a market cap of $449 billion.

Jamsycoin (JASMY), Ordinals (ORDI), and Arweave (AR) Making Gains

Source: CoinMarketCap

1.Jamsycoin (JASMY):
Jamsycoin, an Internet of Things (IoT) token, has seen significant gains, with its price surging by 22.27% to $0.03113. The market cap of Jamsycoin is currently $1.51 billion. Over the past seven days, JASMY has surged by an impressive 44.53%.

2.Ordinals (ORDI):
The BRC-20 token, Ordinals, has jumped by 14.14% in the last 24 hours, reaching $48.88. The market cap of Ordinals now stands at $1.03 million. Over the past week, ORDI has experienced a notable surge of 28.99%.


3.Arweave (AR):
Arweave, a Decentralized Permanent Information Network (DePIN) token, has increased by 8.03% in the last 24 hours, reaching $43.15. The market cap of Arweave is now $2.84 billion.

In Summary, the overall sentiment in the cryptocurrency market remains cautious due to the significant transfer from Mt.Gox and the fading memecoin rally. However, the notable gains in Jamsycoin, Ordinals, and Arweave indicate that investors are still finding opportunities in select altcoins.

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