The crypto industry is looking forward to ending the week on a positive note. After an abysmal start to the week, the market found its footing and is performing stably right now.
Bitcoin has managed to warm to a 0.08% value in the past 24 hours, opposing the prevalent fluctuations. Similarly, Ethereum also stood strong at its $2,600 on Thursday. Names like TRON and Avalanche managed to find their rhythm, gaining 3% and 11% value, respectively.
On the other hand, new coins like Sun also garnered traders’ attention. Let’s look at the daily crypto update to assess how the market will perform today.
Bitcoin
The market leader showed signs of resilience on Thursday, merely fluctuating 0.08%. BTC maintained its stance over the $60.6k and is constantly eyeing the $61k.
It is currently trading at $60,929, with a weekly performance of 4.66%. Bitcoin also revealed that it has two more phases before entering the Euphoria Phase, enticing traders across the world.
Moreover, El Salvador is constantly supporting the coin by purchasing 1 BTC every day.
Ethereum
Ethereum has been lagging behind Bitcoin for the better half of H2 2024. However, Thursday witnessed the coin putting in a better performance than the market leader.
ETH ended the day with a 1.70% surge, keeping the currency above the $2,600. It is currently trading at $2,668, with a weekly surge of 2.66%. With the Ethereum ETFs failing to bring balance inflows, the crypto is struggling to keep up with BTC at the moment.
However, experts expect Ethereum to make a comeback before the year ends.
Avalanche
Avalanche made a marvellous comeback on Thursday, registering a daily growth of 11.41%. The asset has been trading silently for the past year, but it has finally picked up pace.
It is currently trading at $26.04, with a weekly growth rate of almost 28%. According to expert analysis, the crypto has entered a pre-bull run accumulation zone. Therefore, traders are keeping a close eye on its daily performance.
SUN
SUN.io by TRON is the world’s first platform that facilitates self-governance, stablecoin swap, and token mining. Its native currency, SUN, has now shaken the crypto market with its surprising performance.
The coin gained a whopping 64.50% value in the past 24 hours. The coin is currently trading at $0.025 at a weekly surge of 176.48%. Given its recent performance, SUN is one of the most desirable investment options among short-term traders.
TAO
Bittensor, the open-source protocol that powers a blockchain-based ML network, is also the brain behind TAO.
The coin has gained 13.11% value in the past 24 hours alone. It is currently trading at $333.25, with a weekly surge of 22.16%. With a 9% rise in market cap, TAO is becoming a potent investment option for traders worldwide.
Given the market’s recent performance, most of the top cryptos are expected to surge over the weekend. However, traders should conduct their research before investing a hefty amount in crypto.
Source: https://www.cryptonewsz.com/daily-crypto-update-market-finds-stability-before-weekends/