As 2023 draws to a close, Bitcoin experienced an unexpected dip below the $42,000 mark but managed a slight recovery to $42,100. The cryptocurrency had previously reached $44,000 before plummeting to $41,650. This decline also affected altcoins, although some continue to challenge the market.
Recent resignations at Grayscale triggered a sharp fall in Bitcoin’s price, impacting the broader cryptocurrency market. Notably, high-volume altcoins such as SOL, XRP, ADA, and BNB witnessed significant price drops, while others maintained strong performances.
Data from Binance revealed that three altcoins exhibited above-market price movements. These altcoins demonstrated resilience and strength despite the market’s overall downward trend.
Harvest Finance (FARM), an Ethereum-based project, saw a substantial rise during the day, reaching $59.69, delighting its investors with a 41% increase. The altcoin’s price structure changed dramatically due to rapid purchases, leading to a 1369% surge in the 24-hour trading volume, crossing the $45 million mark.
Market capitalization for FARM also increased by 45% to $40 million, positioning it at 674th in market cap rankings. Biswap (BSW) caught investors’ attention with a 34.63% rise, reaching a price of $0.1354, and a 1360% increase in 24-hour trading volume to $159 million.
Contrary to Bitcoin, Perpetual Protocol (PERP) experienced a 40% uptick to $1.2134. PERP’s trading volume also climbed significantly, with a 1798% increase to $234 million, while its overall market cap was around $80 million at the time of writing.