While the broader cryptocurrency market remains bearish, certain altcoins like BANANAS31 and ANDY have seen explosive price surges, each rising by over 200%. In contrast, Bitcoin (BTC) and Ethereum (ETH) continue to struggle, with Bitcoin lingering just below $96,000.
According to CoinMarketCap, the global crypto market cap experienced a modest 1.5% increase over the past 24 hours, but the top players are still facing challenges. Bitcoin remains stuck around the $96,000 mark, showing only a slight 0.06% increase, while Ethereum has dipped 0.8%, trading at approximately $2,600.
On the other hand, BANANAS31, also known as Banana For Scale, has seen a massive surge of over 300%, jumping from a low of $0.0008696 to as high as $0.003756 in just 24 hours. This surge is largely attributed to its recent debut on the BNB Chain, which has also seen an uptick in its price by 6%. The movement of Binance Coin (BNB) may have helped fuel BANANAS31’s momentum, as both are closely linked.
Similarly, ANDY has skyrocketed by more than 220% in the past 24 hours, rising from $0.00000001188 to a high of $0.00000006437. This surge comes after the ANDY team announced that it is building on the BNB Chain, a move that could have contributed to the token’s performance, especially alongside BNB’s positive price action.
While Solana and Popcat have also shown some positive movement, with Solana climbing nearly 4% to reclaim the $201 mark and Popcat recovering to $0.30 with a 14% surge, the broader market sentiment remains bearish. The Crypto Fear and Greed Index is currently at 35, signaling fear among investors, compared to a neutral reading of 47 just a week ago.
The fear surrounding the market is partly due to geopolitical tensions, particularly with the U.S. imposing tariffs on Chinese goods as part of an ongoing trade dispute. Although tariffs on Canadian and Mexican goods have been paused, the U.S. trade war with China continues to stoke fears of decreased trade volumes, affecting overall market sentiment.
At the latest check, Bitcoin was trading at $96,396.93, showing a modest increase of 0.4% as market uncertainty continues to weigh on its price.
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