Crypto Market continues its bearish trend of Bitcoin falling below $83,000. However, certain altcoins are increasing rapidly.
Finally, Coingecko's data shows that Bitcoin (BTC) has declined by 4.4% over the past 24 hours.
Altcoins Spike Triple Digit
Safemoon (SFM) spiked 494.3% in the last 24 hours, reaching $0.00001186 to $0.00007107.
Price transfers in SFM appear to be related to recent token burns. The project announced that it had burned over 7.95 billion SFM tokens on March 7th.
The team also rolled out two updates quickly and in a row. In a recent announcement, Safemoon announced another major token burn of 8.688 billion and 8.4 billion SFM tokens.
Additionally, SFM updated the Solana (Sol) token with a new icon and spotlighted the Web3 Backup & Restore feature.
Coming to the second Gainer on the Top Gaines list, Pwease Token jumped 215.4% in the past day. The coin jumped from a minimum of $0.006037 to $0.02704.
Unlike Safemoon, Pwease does not have any clear developments that cause price. Recently launched on Pump.fun, Meme Coin appears to be experiencing the typical early surges that are common in new meme tokens.
Such a sudden pump without a fundamental backing Usualt leads to a quick correction, making PWEASE a high risk coin despite its surge.
Von, Vameon's native tokens for Play-to-earn games is third on the list. Tokens rose 74% in the last 24 hours, reaching $0.0002887 from $0.0001504.
There were no major announcements from the VON team, but steady improvements to Vameon gameplay helped to raise player interest.
Tokens have skyrocketed by over 800% over the last 30 days, and have experienced significant growth over a long time frame.
Despite these isolated success stories, the overall crypto market sentiment is cautious. Bitcoin continues to face sales pressure of less than $85,000, and it has dragged most major altcoins. The global crypto market fell 1.24% at press time to $2.8 trillion.
