Following an incredible rally in 2023 that saw Bitcoin soar to $45,000, the crypto market in early 2024 appears to be a nightmare for investors, with the market still unable to fully recover from past losses. Bitcoin’s rise from $15,000 in 2022 to its peak last year remains fresh in investors’ minds.
While altcoins initially experienced sharp increases in contrast to Bitcoin’s performance at the start of 2024, their momentum seems to be waning. As Bitcoin’s price continues to fall, altcoins appear to be losing their resilience.
Siacoin (SC) leads the surviving altcoins over the past week, with a 23.65% increase, trading at $0.01345. Despite a modest 6% rise in 24-hour trading volume, SC’s market value stands at $55 million.
Ronin (RON) follows, attracting attention with a 15.9% gain over the week, despite a 2.34% drop in the last 24 hours, trading at $2.19. RON’s 24-hour trading volume reached $21 million, indicating a 12% increase and growing investor interest.
Other notable altcoins include PYTH and MANTA, both stirring market news, potentially due to airdrop announcements, with respective weekly gains of 9.54% and 6.79%. Astar (ASTR) and Flare (FLR) also provided returns to investors, with increases of 3.79% and 2.46% over the past week.