- The cryptocurrency market has experienced a volatile week, and certain altcoins have started the weekend on a high note.
- Bitcoin (BTC), the leading cryptocurrency, traded between $58,000 and $60,000 over the past week. Experts suggest that BTC has yet to find a stable price equilibrium.
- This uncertainty in BTC has also impacted altcoins, leading to significant price fluctuations throughout the week. Crypto analyst Mags described the overall market outlook as negative.
Discover which altcoins have rebounded and gained momentum as the weekend begins.
Altcoins Leading the Charge
After a turbulent week in the cryptocurrency market, a few altcoins have shown signs of recovery, starting the weekend on an upward trend. Let’s delve into the top-performing altcoins of the day.
SuperRare (RARE)
SuperRare (RARE), an NFT marketplace on the Ethereum blockchain, emerged as the top gainer of the day. RARE soared by 80% in the last 24 hours, according to CoinGecko. With a trading volume of $530 million, RARE’s market capitalization now stands at $156 million.
Tribe (TRIBE)
Tribe (TRIBE), the governance token of the decentralized stablecoin issuer Fei Protocol, saw a 46% increase in the past 24 hours. CoinGecko reports that TRIBE registered a trading volume of $26 million and has a market cap of $275 million.
Synapse (SYN)
Synapse (SYN), an inter-chain communication protocol, recorded a 45% price rise over the past day. SYN’s 24-hour trading volume reached $250 million, with a market capitalization of $155 million, based on CoinGecko data.
OKX Chain (OKT)
OKX Chain (OKT), the blockchain token of popular crypto exchange OKX, also made headlines with a 32.4% surge in the last 24 hours. According to CoinGecko, OKT’s trading volume for the day was $1.5 million, and its market cap sits at $145 million.
Banana Gun (BANANA)
Banana Gun (BANANA), a trading bot available on Telegram, kicked off the weekend with a remarkable 31% rise in the past 24 hours. CoinGecko shows BANANA’s trading volume at $260 million and a market capitalization of $210 million.
Conclusion
This week, investors witnessed significant volatility in the cryptocurrency market, mirrored by the price fluctuations in both Bitcoin and various altcoins. However, a few altcoins have managed to regain their footing and show promising growth as the weekend begins. As always, readers are advised to conduct their research before making any investment decisions.
