Top Crypto Assets Defying Bearish Market Outlook

12 May, 2024 Updated 27 Aug, 2024

By David Pokima

Crypto Journalist

Expertise : Finance/Crypto Journalist

David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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Crypto assets are trading in the red zone for the second consecutive day with some coins posting double-digit losses. At press time, the market capitalization is down 0.5% in the last 24 hours with a massive 41% decline in trading volumes.

The fall in market prices is linked to macroeconomic factors, the Securities and Exchange Commission’s stance on most assets, and industry factors affecting some coins. While declined sentiments have led to low market prices, some crypto assets add trading against the market igniting bullish pressure. Here are the top assets flipping green today.

BNB

BNB trades at $592, a 1.17% high in the last 23 hours changing the tide after a bearing outlook. The asset has a market capitalization of $87.5 billion and a 24-hour trading volume of $1.3 billion. While volumes remain low because of general low sentiment, the crypto asset has broken out of the previous bottom.

BNB is now up 1.25% this week showing strength as bulls eye another market run. Although monthly flows are still negative, the recent performance has brought optimism to the market.

Toncoin (TON)

Toncoin price has soared 2% today to $6.87. The asset has recorded recent highs amid new developments around the ecosystem. From the token distribution announcement to HashKey’s listing, TON has marked a series of positive developments.

Like BNB, the assets trading volumes have plunged for TON coins with bulls attempting a short-term recovery. Toncoin has outpaced the market this week showing a huge 18% upward movement.

Litecoin (LTC)

Litecoin price stands at $81.60, a 1.80% rise today moving away from other crypto assets. The coin’s market cap is over $6 billion with a recovering day trading volume although still in the red zone. Litecoin’s daily on-chain volumes are tipped to recover with the wider market.

Crypto assets have faced significant corrections in the last 48 hours as top assets like Bitcoin and Ethereum plunged.

Also Read: SHIB Burn: How Many Shiba Inu Tokens Are Burnt Till Date

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.