Today, the broader virtual currency market has slowed down its upward momentum after experiencing an impressive recovery for several days since last week. The global market capitalization is currently down 0.47% to $3.59 trillion.
Despite the slump, its market volume reads at $192.77 billion, reflecting a 14% increase over the previous day. Meanwhile, the fear and greed index supports this rise, standing at 77, highlighting a rising wave of optimism in the market. The increasing user confidence in the market is largely fueled by the highly anticipated Trump’s swearing-in as America’s president.
Bitcoin remains steady at $103k
This resilience explains why Bitcoin saw a further increase, with its price currently trading at $103,539.64, a 1.25% rise over the previous day.
The uptrend is part of the remarkable strength that BTC gained last week on Wednesday following a favorable inflation report that boosted investors’ risk appetite.
Since then, Bitcoin further moved its price above $100,000 ahead of the upcoming ceremony that is set to inaugurate Trump as the US president next week.
The altcoin market shows mixed results
Today, altcoins displayed a mixed performance. Solana recorded outstanding results in the top 10 cryptocurrencies sector, with a 9.94% increase.
Apart from Bitcoin and Solana, other cryptocurrencies in this sector witnessed declines today. Ethereum showed a downward trend, dropping 3.40% to trade at $3,306.03 at press time.
Meanwhile, XRP, which registered massive upsurges in the past few days, today is down 3.07% to hover at $3.17. BNB also saw a 3.49% slump, with its price currently standing at $702.45.
Dogecoin also experienced a 3.43% decline, now priced at $0.3995. Lastly, Cardano and TRON also embraced downtrends, falling 4.59% and 1.74% to trade at $1.07 and $0.24 respectively.
Smaller tokens are top gainers today
Top performers in today’s crypto market are new faces dominated by smaller tokens. Official Trump emerged as the top gainer today, with a tremendous 206.07% rise in the last 24 hours.
Jupiter became the second-best performer with a remarkable 20.35% increase. It was closely followed by Raydium, which garnered an outstanding 19.57% upsurge.
BONK also became visible, with a great 11.08% climb. Finally, SPX6900 and Fartcoin closed today’s list of best performers with impressive gains of 10.41% and 10.24% respectively.
The massive gains of these upcoming cryptocurrencies signal that investors and traders are increasingly investing in emerging tokens, which have the potential to provide significant rewards. Part of these assets’ attractions is stories of early investors reaping substantial gains from such hidden gems.
