FET Surges 6% Despite Market Slump, BTC Struggles at $59K

BTC Struggles to Maintain $59K

Bitcoin’s performance has been lackluster recently, with the price slipping below $58,000 once again and only slightly recovering to just over $59,000.

Despite initial optimism last week, where Bitcoin surged from $60,000 to over $64,000, the cryptocurrency has faced challenges. On Monday, Bitcoin hit a three-week high of $65,100, but the gains were short-lived.

By Wednesday, Bitcoin had dropped to $58,000, and although it briefly climbed to $61,200 on Thursday, it faced renewed pressure and fell to $57,750 on Bitstamp—the lowest level in about two weeks. Currently, Bitcoin is down 0.5% on the day and 8% since last Saturday.

Its market cap has decreased to below $1.170 trillion, with its dominance at approximately 54% according to CoinGecko (CG).

FET Defies Market Movements

Most larger-cap altcoins have mirrored Bitcoin’s downward trend, with ADA, NEAR, and TRX declining by more than 2% daily. SOL, TON, SHIB, and AVAX are also down by just over 1%.

In contrast, ETH, XRP, DOGE, and BNB have posted minimal gains, with LTC and UNI showing the most significant increases of around 3% each. However, FET and AAVE have emerged as standout performers.

• FET: The price has surged by 6-8%, nearing $1.2.
• AAVE: The price has risen above $132.

Despite these positive movements, the total crypto market cap has experienced another daily decline of $15 billion, now standing at $2.175 trillion on CoinGecko (CG).