Latest news with #altcoin
Yahoo
5 days ago
- Business
- Yahoo
APT Surges 5% From Lows Despite Market Volatility and $960M in Altcoin Liquidations
Aptos' APT exhibited exceptional price volatility throughout the 24-hour trading period, establishing a comprehensive trading range of 5.4%, spanning from an absolute low of $4.53 to a session high of $4.79, according to CoinDesk Research's technical analysis model. The model showed that the period was highlighted by an explosive intraday rally at 14:00 on July 24, with price action accelerating from $4.59 to $4.75 accompanied by substantial volume of 3.64 million, creating robust volume-confirmed support at the $4.59 threshold. Post-breakout, APT sustained consistent trading above the $4.60 level, encountering significant resistance in the $4.75-$4.79 range, according to the model. The recent altcoin correction eliminated $960 million in leveraged positions throughout the cryptocurrency ecosystem. The bounce in Aptos came as the wider crypto market fell, with the broader market gauge, the Coindesk 20, recently down 0.6%. In recent trading, APT was 1.2% higher over 24 hours, trading around $4.695. Technical Analysis: The trading session included a significant retracement to $4.62 approximately at 07:53, forming a crucial support foundation before launching a sustained upward movement. Price action reached $4.67 near 08:06, illustrating substantial buying pressure and momentum alignment. The recovery sequence confirms the previously established support territory around $4.58-$4.60. APT effectively maintained ascending lows, indicating potential advancement toward the identified resistance zone near $4.75-$4.79. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
XRP, DOGE, SOL Lead Crypto Selloff, But Altcoin Season Still in Play if This Happens
While bitcoin (BTC) slid only modestly, other major cryptocurrencies tumbled over the past few days, sparking doubt of the durability of the so-called altcoin season. XRP (XRP), dogecoin (DOGE) and Solana's SOL (SOL) declined the most among the top 10 cryptos on Friday, slipping around 5% each over the past 24 hours, CoinDesk data shows. From the Wednesday highs, XRP and DOGE plunged around 18%, while SOL was down 12% over the same stretch. The CoinDesk 80 Index, consisting of mid-cap tokens outside of the CoinDesk 20, lost 10% from the weekly peak. Meanwhile, BTC was changing hands around $116,000, a bit more than 3% lower from its mid-week peak of $120,000. Ethereum's ether (ETH) was 4% below its weekly high, supported by steady accumulation by crypto treasury strategy firms. When altcoin season? The sharp sell-off of the past few days came after weeks heavy capital rotation into smaller tokens, fueling talks of a full-blown altcoin season. That period, sometimes dubbed alt season, occurs when riskier, smaller tokens outperform bitcoin, the leading crypto, for a sustained period. CoinGlass' Alcoin Season Index, which measures the altcoin market's outperformance versus BTC on a scale of 0 to 100, cooled off to 41 on Friday from Monday's 59, the strongest reading since the late January speculative frenzy around President Trump's inauguration. Still, the total altcoin market (except stablecoins) saw a rapid appreciation, nearly doubling in value since April, David Duong, head of research at Coinbase, said in a Friday report. For this week's pullback, traders taking on excessive leverage on altcoin bets were to blame, the report pointed out. The Altcoin Open-Interest Dominance metric, which compares the amount of dollars tied up in altcoin derivatives contracts to bitcoin's, soared to 1.6, a level that has preceded previous market shake-outs, the report noted. A decrease in the ratio would suggest a healthy leverage reset for the altcoin market, otherwise more shakeouts are expected, Duong wrote. For an extended altcoin season, investors should keep an eye on the Bitcoin Dominance, which measures BTC's share of the total crypto market capitalization. The metric has broken below the 200-day moving average for the first time since a brief period in January 2025, the report noted. "A sustained move under the 200-DMA could validate the 'alt season' narrative and have historically preceded multi-week stretches of altcoin outperformance (like in 2021)," Duong wrote. However, traders might be better off waiting for more consecutive sessions closing below the level before piling into altcoin bets for a more "prudent positioning," he added.
Yahoo
7 days ago
- Business
- Yahoo
ICP Drops 5% as Crypto Market Rotates, Resistance Holds
Internet Computer (ICP) recorded a 5.35% pullback over the last 24 hours, dropping from $6.01 to $5.69 as weakness set in among the broader altcoin market. ICP struggled to maintain bullish momentum, encountering firm resistance in the $6.00–$6.10 zone that had capped multiple breakout attempts. The sharpest decline came during the 13:00 UTC hour on Thursday, when ICP slid to $5.62 from $5.97 in just a few minutes, driven by an outsized surge in trading volume. Total daily turnover reached 2.58 million tokens — nearly four times the 24-hour average — underscoring institutional-scale distribution pressure, according to CoinDesk Research's technical analysis data model. The broader market showed similar dynamics, with altcoins such as SOL, AVAX and ADA pulling back amid profit-taking and regulatory developments. Analysts characterized the retracement as a healthy rotation following President Donald Trump-related rallies and renewed attention to stablecoin legislation. Despite individual bullish catalysts, many tokens failed to sustain upside traction, with traders reallocating capital and defending key support zones. Technical Analysis ICP dropped 5.35% from $6.01 to $5.69 between July 22 and July 23. Intraday high of $6.14 and low of $5.62 established a volatile $0.52 range (8.4% spread). Price fell to $5.62 from $5.97 at 13:00 UTC on July 23 amid 2.58 million token volume. Volume during capitulation exceeded 100K per minute, nearly 4× daily average of 650K. Resistance confirmed at $6.00–$6.10 with multiple failed breakout attempts. Critical support formed at $5.62 after heavy selloff during 13:40–13:51 UTC window. Market struggled to reclaim $5.83, with persistent selling on minor rebounds. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
NEAR Protocol Slides 5% as Altcoin Season Abruptly Ends
NEAR Protocol endured a turbulent 24-hour stretch between July 22 15:00 and July 23 14:00, declining from $2.97 to $2.81 in a 5.41% move that underscored broader weakness across the altcoin complex. The token traded within a volatile $0.28 range, peaking at $3.04 before slumping to an intraday low of $2.76. The sharpest selloff emerged during the July 23 13:00 hour as NEAR tumbled from $2.84 to $2.76, with trading volumes spiking to 14.19 million tokens—nearly five times its 24-hour average. This dynamic established significant resistance at $2.84, suggesting traders will be watching that level for signs of reversal. During a critical hour from 13:10 to 14:09 UTC, NEAR briefly stabilized after plunging 2.46% from $2.84 to $2.77, before recovering to $2.80. Trading intensity peaked between 13:41 and 13:51 when over 850,000 units changed hands per minute, highlighting the fragility of support near $2.76. While the rebound hints at a potential short-term consolidation, the wider altcoin market's softness raises questions about whether NEAR can sustain upward momentum. Adding to the mix, NEAR Foundation's partnership with Everclear to develop cross-chain settlement infrastructure could act as a catalyst for renewed interest. Meanwhile, traders continue to eye the rise of narrative-driven projects such as MAGACOIN FINANCE, which has diverted speculative capital as NEAR contends with development delays heading into Q4 2025. Technical Analysis Price Action: NEAR fell 5.41% from $2.97 to $2.81 (July 22–23), with a trading range of $3.04 (high) to $2.76 (low). Volume Spike: 14.19M tokens exchanged during peak selloff, far above the 2.89M daily average. Resistance Level: $2.84 established as significant overhead resistance after multiple failed retests. Support Level: $2.76 held as a key floor during high-volume volatility. Altcoin Context: Broader market weakness weighs on NEAR's recovery prospects. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
22-07-2025
- Business
- Yahoo
Solana Takes the Altcoin Rally Baton as ETH, XRP, BTC Stall
With bitcoin (BTC) languishing around $117,000 and ether (ETH) pausing below $3,800 on Monday, it was Solana's (SOL) turn to catch-up with the broadening altcoin rally. SOL advanced nearly 8% over the past 24 hours to just shy of $200 during the session, its strongest price since mid-February and has more than doubled from the April, tariff tantrum lows. The token is also nearing a two-month high in BTC terms, attempting a rebound after a brutal, 50% correction against the largest crypto from the January peak. The rest of the large-cap tokens saw muted actions, with XRP (XRP), Cardano's ADA (ADA) and BNB (BNB) booking modest gains. BTC was down nearly 1% during the same period. As bitcoin has been trading sideways in a tight range for more than a week, altcoins gathered steam booking double-digit advances. "This dynamic suggests that capital rotation is underway, with investors reallocating from BTC into higher-beta assets to capture additional upside," Bitfinex analysts said in a Monday report. This has historically signaled the beginning of altcoin-led phases within broader bull markets, the report added. While Ethereum recently stole the crypto narrative spotlight as the go-to network for stablecoins, tokenization amid institutional and corporate treasury demand, Solana that has been the premier hub for fast-paced memecoin trading lagged initially. Coinbase analysts, lead by head of research David Duong, said both tokens will benefit from the broadening crypto rally as institutional interest driven by U.S. efforts to regulate the sector. "Solana, despite a moderation in its memecoin-driven activity, is demonstrating its capacity for high transaction volumes and exploring new sectors," David Duong, head of research at Coinbase, said a report. "We see both ETH and SOL being supported by institutional interest and their beta to the rest of the crypto complex." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
