Feeling bullish? Today, crypto traders woke up and chose to hit the “buy” button, with 90% of the top 100 coins by market cap skyrocketing in price over the past 24 hours.
Bitcoin and Ethereum Today they are up about 5% and 7%, respectively, as are many other top stocks. Altcoins are doing even better. This event is all the more impressive given that this came after a short period of panic, during which Bitcoin experienced its worst day since November 9, 2022, dropping 14.4% in 24 hours. .
Currently leading the way among alternatives is ONDO, the best-performing cryptocurrency in the top 100, with an impressive gain of 36.51% in the past 24 hours. ONDO is the governance token of the Ondo DAO, which is currently focused on powering the Flux Finance ecosystem, a DeFi lending protocol that allows users to borrow using tokenized U.S. government bonds.
Other coins currently doing well include Conflux (CFX )It is included. JasmyCoin (JASMY), the native token of Internet of Things (IoT) provider Jasmy Corporation (+21.78%). Kaspa (KAS) is the native token of the Kaspa layer 1 blockchain and aims to be extremely efficient and fast via the GhostDAG protocol (16.32%).
But even Render, the worst performing token in the top 100, was green most of the time today. However, a small intraday correction caused the price to fall by 3.5% in the last few hours. Render is a token of a decentralized GPU rendering network built on the Ethereum blockchain.
Notably, all Green Zone tokens are currently experiencing price increases of more than 1%.
This rebound came after a brief panic episode on BitMEX where Bitcoin flash crashed 80% in a matter of minutes, leading to a massive sell-off. However, the leading cryptocurrency has since rebounded, rising more than 5.7% in the past 24 hours to its current price of $66,539.
BTC-USD. 24 hour candlestick. Image: Tradingview
Ethereum, the second-largest cryptocurrency by market capitalization, also experienced a significant rally, with its price increasing by about 7% to its current price of just over $3,400.
Meme coins are also reacting positively to the overall backlash. The third best-performing token, Floki, grew by 26.92%, bringing its current price to his $0.000227. Although Bonk has the “worst” performance among meme coins, he still has a significant growth of 11.97%, bringing his current price to $0.00002355.
In the past 24 days, the total market capitalization of the crypto market has increased from $2.36 trillion to $2.53 trillion, with trading volume fluctuating above $150 billion for most of the period, which is currently the largest market capitalization of traders. This is a historically high level that reflects how hot the cryptocurrency market has become. .
The Crypto Fear and Greed Index, a tool that measures investor sentiment and sentiment, is currently showing a state of extreme greed among crypto enthusiasts. This suggests a high level of optimism and risk-taking appetite in the market, which may be contributing to the current rally.
This positive trend is not limited to the cryptocurrency market, but the stock market as a whole is also showing signs of recovery. The Fear and Greed emotional index indicates extreme greed, recovering from last week's “greedy” state. Most of the world's major indexes are in the green, with the exception of China and Brazil, which have fallen slightly.
In the US, the S&P 500 rose +0.6%, the Nasdaq surged 0.78% and the Russell 2000 rose +1.23%. In Europe, the STOXX 600 rose 0.9%, the UK's FTSE100 rose +1.88%, France's CAC40 rose 0.22% and Germany's DAX rose 0.9%. Meanwhile, Asian markets also had a very strong day, with Japan's Nikkei Stock Average soaring more than 2%, South Korea's Kospi rising more than 2.4%, and Taiwan's stock market rising 2.10%.
The views and opinions expressed by the authors are for informational purposes only and do not constitute financial, investment, or other advice.
