Newly Rising Altcoins Of The Market; Analysed
July 1 has been quite favoring for the altcoins as their global market cap has witnessed quite a surge, but today did not follow the same trend to perfection. However, the current market situation was enough to surge a few altcoins that were following a downtrend with the shift in investor sentiments. According to the fear and greed index, the market sentiments are at 49, a neutral zone, but it is better than an earlier score of 44. The stories of altcoins rally is out in the market, but before that, check out today’s rising cryptos after battling declines.
Toncoin (TON)
Toncoin is now just 3% away from its all-time high of $8.25, set in the middle of June. However, like other altcoins, Toncoin also faced a decline after its rallying days, but that has changed today. In the last 24 hours, the TON price has hiked by 4% and is currently at $8.00, beating Dogecoin on the best cryptos list with its high market capitalization.
Polkadot (DOT)
Polkadot price has been struggling since its March rally, where the price rose to $11.54. From the last few months, it followed a downtrend, with value declining as low as $5.6 by June end. But this week, it has made quite a comeback, trading at $6.39 after a 9% hike. Though it is still under a 10% loss over the month’s stats, the rise is worth counting.
Solana (SOL)
Solana has been just decent this year, with no major breakthroughs other than the March rally. Following the altcoin’s fall, SOL struggled earlier as the price dropped to $123.96. However, things began to change as the Solana ETF discussion is hyping its demand in the market. Two companies, i.e., VanEck and 21Shares, have already applied for the Spot Solana ETF because of its low cost and high transaction capabilities. At the time of writing, the Solana price has surged to $148.67 after an 8% hike.
Bonk (BONK)
BONK and many other popular Solana Meme Coins have shown bullish behavior after having a slight fallback in the past few days. These gained huge popularity at the beginning of the year but lacked once the market turned slightly bearish. BONK price has gained 5% in the last 24 hours and 10% over the week, bringing the value to $0.00002526. It is still in high loss compared to its best-performing days, as the ATH is 46% away.
Many other altcoins are attempting similar recoveries, bringing new gains after days or weeks. It has been a decent start to this month after facing a heavy fall by the end of June. It has to see whether the month can turn bullish or the market will continue the same.
Continue Reading Why the BTC Price Trend Might Be Your Best Bet in 2024
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