© Reuters.
NEW YORK – In the dynamic world of cryptocurrencies, the has recorded a notable pullback from its 18-month high of $38,000 hit last week, settling at $34,800 last night. Against the backdrop of the general market decline, several alternative cryptocurrencies stood out, showing remarkable resilience and positive divergence.
Among these alternative cryptocurrencies, the best performing ones are dYdX (DYDX), Celestia (TIA), PancakeSwap (CAKE), (AVAX), (SOL) and Lido DAO (LDO). Here’s a look at their recent gains: – dYdX saw an impressive 24.7% rise – Celestia followed with an 18.5% increase – PancakeSwap rose 15.7% – Avalanche soared 11.5% – Solana and Lido DAO both saw gains of over 10%, with SOL up 10% and LDO up 11.3%.
PancakeSwap, in particular, has seen an increase not only in price but also in activity. The decentralized exchange token saw its trading volume skyrocket 110%, reaching $284 million in the last 24 hours. With CAKE currently trading at $2.63, analysts are watching it closely as this spike in volume could signal the start of a significant upward trajectory for the token.
Investors and market observers are closely following these developments in real time, with many wondering whether these altcoins will continue to outperform bitcoin or follow its recent decline.
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