Altcoins Analysis: Only Five in the Top 100 Are on the Rise 

It’s important to emphasize that this article should not be considered as investment advice. The markets are extremely volatile right now, and things can change in the blink of an eye. It has been a rough start to the week for the crypto markets. That being said, not all altcoins have ended up in the red.

 

As of 3pm London time on Monday, a small handful of coins in the top 100 by market cap remain in positive territory.

 

Waves — a blockchain that enables non-fungible tokens, decentralized autonomous organizations and custom tokens to be created — is actually up by 9% over the past 24 hours.

 

While this may seem impressive on the face of it, WAVES may be overcompensating after a shock plunge of 16.3% in the space of three hours last Thursday.

 

NEAR Protocol is also bucking the trend after surging by 5%.

 

The Proof-of-Stake blockchain describes itself as a “climate-neutral, high-speed and low transaction fee” network — and there doesn’t seem to be any major news development in particular that’s driving today’s gains.

 

Lido DAO is up 4.3%, and much of this was linked to excitement over an upcoming listing on Binance.

 

But this doesn’t tell the entire story. LDO actually fell by 33% in the space of three hours earlier on Monday as the token’s value tumbled from $3.36 to $2.25.

 

Axie Infinity — which is still licking its wounds after being caught up in the biggest crypto hack of all time — has risen by 2.68% at the time of writing.

 

There are still signs that the embattled project is still being punished after crypto worth $625 million was stolen from the Ronin Network.

 

At the time of writing, AXS is trading at an 81.5% discount from all-time highs set back in November 2021.

 

That’s a far steeper decline over the past six months than what Bitcoin and Ether have suffered — with both of these cryptocurrencies down by about 52%.

 

Last but not least, 1inch Network narrowly makes it onto the list of altcoins that are currently clinging on to some gains. It’s up by a very modest 0.52%.

 

More Numbers

Overall, just five cryptocurrencies out of the top 100 by market cap are currently registering gains on a 24-hour timeframe right now — stablecoins excluded.

 

It’s important to stress that this article shouldn’t be regarded as investment advice — nor a suggestion that these cryptocurrencies are worth buying because they’re the only ones in positive territory. The markets are extremely turbulent right now, and things can change in the blink of an eye.

 

A sizable number of altcoins have suffered double-digit losses over the past day as painful selloffs continue.

 

Algorand and STEPN are currently the two biggest losers in the top 100 — both down by close to 13%.

 

Tezos, Polkadot, Shiba Inu and Enjin Coin are close behind.

Aave, Cardano, Cronos and Kava are also down more than 10% — along with Curve DAO Token, Theta Network and THORChain.