Siacoin and UNUS SED LEO Lead Gainers, Starknet Sees Biggest Losses
Siacoin (SC) and UNUS SED LEO (LEO) were the top gainers in the cryptocurrency market over the past 24 hours, surging by 14-15%. On the other hand, Starknet (STRK) experienced the largest losses, plunging by 22%. These significant price movements highlight the ongoing volatility and uncertainty in the crypto market, characterized by weak sentiment and volumes.
Gainers: Siacoin and UNUS SED LEO
Siacoin (SC) rallied by 14.48% to reach $0.01673 with a trading volume of over $312 million. Similarly, UNUS SED LEO (LEO) saw notable gains, climbing by 5.16% to reach $4.365 with a trading volume of over $1.5 billion.
Losers: Starknet
Starknet (STRK) experienced a significant loss of 21.82%, dropping to $1.842. A sell-off resulted in over $1.7 billion worth of STRK being traded.
Other Gainers and Losers
Other top gainers included Fetch.ai (FET), Stacks (STX), and TRON (TRX), which posted gains between 4-6%. On the other hand, SATS, Conflux (CFX), and Beam (BEAM) were among the biggest losers, dropping between 9-10%.
Volatile Conditions in the Crypto Market
The wide price swings across cryptocurrencies reflect the ongoing volatility in the crypto asset class amidst uncertain macroeconomic conditions, including the FTX collapse and the ongoing crypto winter. Daily trading volumes have generally declined, but certain altcoins like Siacoin are defying the trend and experiencing spikes in activity.
Market Dominance of Bitcoin and Ethereum
Bitcoin currently holds a market dominance of 51.7%, while Ethereum commands an 18% market share, according to CoinMarketCap data. The combined dominance of these two leading cryptocurrencies remains above 70%. The market will likely continue to experience volatility as it searches for signs of recovery, but analysts predict further drawdowns before any sustainable uptrend can occur.
By
By
By
By