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Top Crypto Assets Defying Bearish Market Outlook

Top crypto assets have seen short-term market corrections this week, however, some cryptocurrencies are still bullish.

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Updated 27 Aug, 2024 | 10:17:05 AM UTC

Top Crypto Assets Defying Bearish Market Outlook

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

David Pokima

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.

Published by

David Pokima

Updated: 27 Aug, 2024 | 10:17:05 AM GMT

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