As the global cryptocurrency market experiences a significant downturn, with the total market capitalization dropping by 7.09% to $2.4 trillion, three tokens have managed to stay in the green: Stacks (STX), Aptos (APT), and Fantom (FTM).
These cryptocurrencies have defied the broader market trend, which has seen 97 out of the top 100 coins, including stablecoins, trading in the red.
Bitcoin’s sharp decline from its $68,000 level has been the main factor driving the market downturn. BTC briefly slipped below $63,000, contributing to the overall bearish sentiment in the market.
Stacks (STX) Gains 3.12%
Stacks (STX), a Layer-2 blockchain solution that enables smart contracts and decentralized applications on the Bitcoin network, has gained 3.12% in the last 24 hours.
STX is currently trading at $2.79, with a market capitalization of $4.04 billion, ranking it 31st among all cryptocurrencies.
Aptos (APT) Rises 4.71%
Aptos (APT), a Layer-1 blockchain that utilizes the Move programming language, has seen its token rise by 4.71% in the last 24 hours.
APT is currently trading at $15.46, with a market capitalization of $6.11 billion, placing it 20th among all cryptocurrencies.
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Show more +Show less – Fantom (FTM) Climbs 1.66%
Fantom (FTM), a high-performance, scalable blockchain platform, has gained 1.66% in the last 24 hours.
FTM is currently trading at $0.9147, with a market capitalization of $2.56 billion, ranking it 46th among all cryptocurrencies.
Reasons for the Surge
According to seasoned crypto trader CryptoGoPro, the reasons behind the positive performance of these tokens vary. For Stacks (STX), investors tend to buy the token instead of Bitcoin when they believe Bitcoin is bullish, as STX offers higher potential returns due to its Layer-2 narrative.
Aptos (APT) has been consolidating with higher-than-average volume spikes, despite Bitcoin’s recent decline. The trader suggests that APT is likely to break out higher once Bitcoin reverses its trend, making it an attractive buy during the consolidation phase.
Source: CryptoGoPro
Flying High also shared a similar chart for Fantom (FTM), indicating that the token may follow a comparable trajectory to Aptos.
As the cryptocurrency market navigates this period of volatility, the positive performance of Stacks (STX), Aptos (APT), and Fantom (FTM) serves as a reminder that individual tokens can still thrive despite the broader market trend. Investors and traders should closely monitor these tokens and consider the factors driving their growth, while remaining cautious of the overall market sentiment.
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The post Stacks (STX), Aptos (APT), and Fantom (FTM): Only Cryptos in the ‘Green’ Amidst Bitcoin Bloodbath appeared first on CaptainAltcoin.
