Celestia and Helium top the list of the most profitable altcoins among the top 100 cryptocurrencies by market cap as Bitcoin price rises to test the $55,000 mark.
After cryptocurrency prices fell sharply during the Asian trading session on August 5, the market saw some respite during the US session.
Bitcoin (BTC) trimmed its losses over the 24 hours after rebounding from intraday lows below $50,000, as the recovery was helped by some altcoins. Notable gainers included Celestia (TIA) and Helium (HNT), which both posted double-digit gains before paring back slightly amid potential profit-taking.
Cryptocurrency market intelligence platform Santiment says the gains see sentiment shifting to other coins rather than Bitcoin and Ethereum, which have been the market’s focus amid the sharp sell-off.
Across the market, liquidations remained above $1 billion after a staggering amount of bullish bets were wiped out amid the collapse in cryptocurrencies and stocks. Offers Cryptocurrency liquidations are still up over 199% in 24 hours.
August 5 also saw the highest trading volume since March when Bitcoin led cryptocurrencies higher as it surged to an all-time high.
With more than $244 billion traded in the past 24 hours, a 230% increase, the daily volume increase in cryptocurrencies mirrors that across stocks. Bloomberg shared an early picture of how U.S. stocks are shaping up in terms of volume.
Celestia and Helium among the top 100 most profitable coins
TIA, which traded as low as $4.04 earlier in the day, is up 11.9% to trade above $5.16 at the time of writing. Meanwhile, Helium traded above $4.7 with a 10% recovery before pulling back. Both coins saw 24-hour trading volumes of over 120% as the market weakness suggests there could be more “buy the dip” opportunities in the coming hours.
Ondo Finance and Mantra also saw some gains. Meanwhile, Lido DAO, Arbitrum, and Near Protocol were among the biggest losers on the day with declines of over 12% over the 24 hours respectively.
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