The worldwide digital asset market displayed varied indexes with a slight drop in Bitcoin (BTC) price over the last 24 hours. Meanwhile, Axie Infinity (AXS) and ORDI witnessed significant surges, outperforming Bitcoin despite its mild selling pressure.
The crypto market experienced a slight 0.45% decrease in its cumulative market cap in the last 24 hours, now standing at approximately $1.66 trillion. Nevertheless, the overall market volume saw a notable 2.96% rise, reaching $59.15 billion during the same period.
Axie Infinity (AXS) emerged as the day’s top performer, with its price soaring over 35% in the last 24 hours. AXS also witnessed a remarkable 550% increase in its 24-hour trading volume, reaching $702 million, and currently holds a market cap of $1.42 billion.
ORDI also demonstrated strong performance, experiencing a 15.30% surge in price over the last 24 hours. ORDI’s 24-hour trading volume rose by 101% to $806 million, and its live market cap stands at $1.3 billion.
However, Bitcoin faced a 1.10% decline, trading at an average price of $43,170. Despite maintaining its top position with a market cap of $845 billion, Bitcoin encountered selling pressure around the $43,000 mark.
Coinglass data revealed over 65,000 traders were liquidated in the past 24 hours, totaling $142.46 million. The largest single liquidation order, valued at $6.15 million, occurred on Bitmex for XBTUSD.
Despite increased market activity and rising trading volumes, major cryptocurrencies, including Bitcoin, are navigating within a confined range, casting uncertainties on the future trend. Bitcoin’s current stagnation around $43,000 suggests limited prospects for a bullish breakout as the year-end approaches.
While Bitcoin’s recent price surge hinted at a potential bullish breakout, a shift in momentum redirected focus to alternative tokens, triggering a positive trend for meme tokens in recent weeks.
