Siacoin and UNUS SED LEO were the top gainers, surging 14-15% in 24 hours. Starknet recorded the biggest loss, plummeting 22%. Continued volatility highlights uncertain cryptocurrency markets amid weak sentiment and volume.
Cryptocurrency markets have seen significant price fluctuations among both winners and losers over the past 24 hours. According to CoinMarketCap data, Siacoin and UNUS SED LEO had the biggest gains, while Starknet suffered the biggest losses.
Siacoin (SC) rose 14.48% to $0.01673, with trading volume of over $312 million. UNUS SED LEO (LEO) also rose noticeably, rising 5.16% to $4.365 with over $1.5 billion in trading volume.
On the other hand, Starknet (STRK) fell 21.82% to $1.842. Over $1.7 billion worth of STRK changed hands during the sale.
Additional top gainers included Fetch.ai (FET), Stacks (STX), and TRON (TRX), which posted gains of 4-6%. Meanwhile, SATS, Conflux (CFX) and Beam (BEAM) were the biggest decliners, down 9-10%.
volatile conditions
Widespread price movements highlight continued volatility across cryptocurrency asset classes amid uncertain macroeconomic conditions following the FTX collapse and the ongoing cryptocurrency winter.
Daily trading volumes have been declining for most major cryptocurrencies over the past month. However, some altcoins, such as Siacoin, are bucking the trend and seeing a surge in activity.
market power
Bitcoin’s market dominance is 51.7%, while Ethereum holds an 18% market share, according to CoinMarketCap data. The combined dominance of the two major cryptocurrencies continues to exceed 70%.
There may be more volatility in the coming weeks as markets show signs of recovery. However, analysts expect further declines before a sustainable upward trend materializes.
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