The cryptocurrency market is experiencing a continued downturn, with Bitcoin slipping below $83,000. However, some altcoins are making significant gains.
According to the latest data, Bitcoin (BTC) has decreased by 4.4% in the last 24 hours.
Altcoins Experience Triple-Digit Gains
SafeMoon (SFM) has surged by an impressive 494.3% within the last day, rising to $0.00007107 from a low of $0.00001186.
This remarkable price surge is attributed to recent token burns, with over 7.95 billion and 7.70 billion SFM tokens burned on March 7 alone. In addition, the project has announced another major burn, adding to the excitement surrounding SFM.
Furthermore, SafeMoon has updated its Solana (SOL) token’s icon and introduced a Web3 Backup & Restore feature, enhancing its appeal to users.
Following closely, the PWEASE token has seen a jump of 215.4% in the past day, reaching $0.02704 from a low of $0.006037. This rising meme coin, recently launched, is currently benefiting from the typical initial surge associated with new tokens, although it lacks substantial developments backing its price increase.
Meanwhile, VON, the native token of the play-to-earn game VAMEON, is the third-largest gainer, climbing 74% in the last 24 hours to $0.0002887 from $0.0001504. While there have been no significant announcements from the VON team, ongoing improvements to VAMEON’s gameplay have attracted more players, contributing to the token’s growth of over 800% in the past month.
Despite these notable performances, the overall sentiment in the crypto market remains cautious. Bitcoin continues to encounter selling pressure below $85,000, impacting many major altcoins. At this time, the global cryptocurrency market has experienced a decline of 1.24%, valued at $2.8 trillion.
