Market Slows Down but Fear Remains Prevalent

The crypto market has been experiencing constant growth over the past several weekends. That appears to be the case this time around, as the market is temporarily halted.

Most of the world’s top cryptos are experiencing stable or sluggish growth. Bitcoin and Ethereum have lost 0.83% value each in the past 24 hours. Besides the stablecoins, only XRP and Toncoin progressed on Thursday.

Even emerging meme coins like DOGS and To The Sun lost significant value in one day. Given the current market outlook, the Fear and Greed Index is showing “fear” among traders. Here is a quick overview of the daily crypto update to help traders gauge an understanding of the market.

Bitcoin

The market leader slowed down a bit after a fast-paced day on Wednesday. The crypto recovered to 0.83%, sliding below the 58k-dollar mark.

BTC is currently trading at 57,880 dollars, with a weekly growth of 2.14%. The initial significant resistance is placed at 58,673 dollars, while its nearest support level is at 57,774 dollars. According to the current market standing, Bitcoin is expected to test the support level before hitting the resistance level over the weekend.

Ethereum

Similar to Bitcoin, ETH also slid down 0.83% in the past 24 hours. The crypto is trading at 2,353 dollars after testing the 2,500-dollar mark a couple of days ago.

Analysts believe that Ethereum trader sentiment necessitates a small bump in order for the crypto to experience a parabolic rise. ETH’s support is 2,340 dollars, while its resistance is at 2,372 dollars. The crypto is expected to test both levels in the coming days.

XRP

On Thursday, XRP shocked traders by defying market odds. The crypto scored a 6.27% growth on Thursday to reach a value of 0.5712 dollars.

Its 7-day growth is also impressive, showing a surge of 4.75%. With Grayscale set to launch its XRP Trust Fund, the coin is expected to surge even further in value. Traders and analysts are even looking forward to ETF opportunities for XRP in the coming months.

Quant

Quant, or QNT, has been around since 2018, connecting networks and blockchains on a global level. On Thursday, the coin also gained 9% growth, countering the market shift. 

In the past 7 days, QNT has gained 27.33% value and is testing the 77-dollar mark. It is expected that the coin may grow even further,  as it is at its highest since August 2024.

Popcat

POPCAT, the SOL-based meme coin, also garnered a 7.50% surge in the past 24 hours. The token has crossed the 0.60-dollar mark and is currently trading at 0.664 dollars.

Similar to Quant, Popcat has also surged 23.75% in the past 7 days. With altcoins and meme coins flooding the market, traders are switching from new coins within a short period of time. Popcat is still in the period and is expected to surge in value for a bit before going down.