On August 10, 2024, the cryptocurrency market showed signs of recovery over the past 24 hours following the recent crypto and stock downturn. Leading the comeback, Helium ($HNT) experienced a remarkable 15.41% increase. This significant increase makes it the top gainer among major coins. Close on its heels were Zcash ($ZEC) with a 12.95% rise, MANTRA ($OM) up by 11.95%, CRONOS ($CRO) increasing by 10.86%, and Arbitrum ($ARB) with an 8.9% boost. These figures were reported by PHOENIX, a well-known crypto media outlet.
Bitcoin Leads .67M in Short Liquidations
However, the defined positive price movements were also accompanied by immense sell-offs within 24 hours. Bitcoin ($BTC) topped the chart with $36.67 million in short liquidations due to its gradual upward movement. Next was Ethereum with $26.40 million lost then Solana which was left with $9.64 million. Ripple ($XRP) and Dogecoin ($DOG) are also shown on the chart of liquidations with $3.6 million and $3.34 million respectively.
The recent recovery points to improving investor sentiments especially after the recent downfall observed in the early days of the week. Analysts have said that such recoveries are suggestive of resilience in the crypto market. However, they have urged traders to remain extra cautious when trading in crypto assets given their price volatility.
HNT, ZEC Surge, But Losses Highlight Crypto Market Risks
Market participants are eagerly watching all of these developments as they seek a meaningful trigger for continued upward momentum. The major percentage gains of these coins like HNT and ZEC offer a taste for what you can get, while the huge losses show exactly how much can disappear.
Above all, investors are urged to research and keep up with the latest trends before investing. There is not much clarity on whether these increases will continue further or there may be some new fluctuations in the days to come as can be observed from this data provided by PHOENIX.
