Siacoin and UNUS SED LEO were among the top gainers over 24 hours, surging 14-15%. Starknet saw the biggest losses, plunging 22%. Ongoing volatility highlights an uncertain crypto market amid weak sentiment and volumes.
The cryptocurrency market saw significant price movement among both gainers and losers over the past 24 hours. According to CoinMarketCap data, Siacoin and UNUS SED LEO were among the biggest gainers, while Starknet saw the largest losses.
Siacoin (SC) rallied 14.48% to $0.01673, seeing over $312 million in trading volume. UNUS SED LEO (LEO) also climbed notably, gaining 5.16% to $4.365 with over $1.5 billion in volume.
On the flip side, Starknet (STRK) plunged 21.82% to $1.842. Over $1.7 billion worth of STRK changed hands amid the sell-off.
Additional top gainers included Fetch.ai (FET), Stacks (STX), and TRON (TRX), which posted 4-6% gains. Meanwhile, SATS, Conflux (CFX), and Beam (BEAM) dropped between 9-10% to round out the biggest losers.
Volatile Conditions
The wide price swings highlight continued volatility across the crypto asset class amid uncertain macroeconomic conditions following the FTX collapse and ongoing crypto winter.
Daily trading volumes have declined across most leading cryptocurrencies over the past month. However, select altcoins like Siacoin are bucking the trend and seeing spikes in activity.
Market Dominance
Bitcoin’s market dominance stands at 51.7%, with Ethereum commanding 18% market share, according to CoinMarketCap data. The combined dominance of the two leading cryptocurrencies continues to surpass 70%.
The coming weeks may see more volatility as the market looks for signs of recovery. But analysts anticipate further drawdowns before any sustainable uptrend can materialize.
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