Crypto Market Shows Greed as Altcoins Surge and Bitcoin Recovers
Release: 2024/03/02 00:59 Reading: 272
You can also read this news on COINTURK NEWS: Crypto Market Shows Greed as Altcoins Surge and Bitcoin Recovers
The fear and greed index indicates that the crypto market is currently experiencing a phase of extreme greed. Many altcoins have shown extraordinary price performances, especially towards the end of the past month. While the first day of March began with a slight retreat for some cryptocurrencies, others continue their ascent. In this article, we will take a look at some of the altcoins that have been trending throughout the week.
Today’s Trending Altcoins
According to the list by Coinmarketcap, the top five trending altcoins of the week are Pepe Coin, Digwifhat, Portal, Ondo, and Fetch.ai. Besides trending, the price of ETH has also surpassed $3,500 and is currently trading at $3,411.17 after a 2% decrease at the time of writing.
The price of Bitcoin touched $64,000 a few days ago before experiencing a slight decline. However, it has found buyers at the $61,934 level after a 1.26% recovery, despite a 40% drop in trading volume, falling to the $50 billion level. So, what’s happening with the five altcoins on the list?
Pepe Coin (PEPE) Price
Pepe Coin appears to have left behind a market value of 1 billion dollars. Following Dogecoin and Shiba Inu, this meme coin is in fierce competition with its market rivals. It had stirred up the stagnant crypto world at the time of its emergence and made a name for itself for a while.
After its decline, a strong recovery in the price of PEPE coin was observed, starting to rise on February 26. Over the past week, PEPE has seen an increase of over 110%, trading at $0.000003553 and approaching its all-time high (ATH) level.
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Dogwifhat (WIF)
Dogwifhat is another meme coin that has made an impact recently. The meme coin reached a new ATH of $1.02 after a recent surge.
The theme of the meme coin is a Shiba Inu dog with a pink hat and it seems to have already become quite popular. It wouldn’t be wrong to say that Arthur Hayes also drew attention to the project recently.
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WIF’s price began to rise on February 24, and it has experienced a 217% increase over the last 7 days. At the time of writing, its price is at $0.9598.
Did Portal (PORTAL) Fail to Deliver?
Portal had pleased its investors with the announcement of an airdrop in recent days. Portal is positioned as a gaming platform aiming to unite games and players from different blockchains. At the time of writing, PORTAL was trading at $2.19 after a 14% drop.
Portal began trading on central exchanges including Kucoin recently and experienced a decline after the first day of its Binance launch on February 29.
Ondo (ONDO) On the Rise
The Ondo token is positioned as the native token created by Ondo Finance to provide better liquidity access in the market. On the other hand, the price has fluctuated throughout the week, and at the time of writing, it has found buyers at $0.04734 after a 20% increase in the last 24 hours.
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Ondo’s market capitalization also increased by 20%, surpassing $653 million. Its 24-hour trading volume surged by 74%, reaching $281 million. This rise indicates the investors’ growing interest in the altcoin.
Fetch.ai (FET) Hits All-Time High
Fetch.ai is known as an artificial intelligence project. It also uses its native token FET for trading and transactions.
After an approximately 45% significant increase in recent days, today it reached its all-time high (ATH) of $1.82, delighting investors. At the time of writing, FET is trading at $1.8 with a 24-hour trading volume of $502 million. FET’s market capitalization has risen to $1.47 billion after a 17% increase.
The post first appeared on COINTURK NEWS: Crypto Market Shows Greed as Altcoins Surge and Bitcoin Recovers
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