Top Crypto Gainers June 1: Market Volatility Prevails, JASMY and LDO Tops

Top Crypto Gainers June 1: Market Volatility Prevails, JASMY and LDO Tops

The Current crypto market has been attributed to being full of mixed fortunes as the volatility in trading persists. As for Bitcoin and Ethereum, they remain range-bound and barely changed their positions on the previous day while the rest of the altcoins had different fates. Specifically, JasmyCoin (JASMY) and Lido DAO (LDO) took advantage of the situation and became the two most successful coins by rising significantly.

The total market cap, on the other hand, has only decreased by a little over 0.70% Down from yesterday and currently hovering at $2. 52 trillion, the total market volume is also reported to have declined by 9. 68% at $75.05 billion. The general token market remained rather inactive, especially with such significant altcoins as Solana and XRP struggling and decreasing their value, while other specific tokens like JasmyCoin and Lido DAO Token turned into market challengers with their large increases.

This split in the result reflects the different outcomes elicited from the most recent economic figures to which they have been exposed – specifically starting with a softer than expected core US inflation which has instantly injected more positive sentiment in the crypto market sending its reference asset briefly to $65k, before it stabilised at $67,575.87 this week, which is a slightly lower figure than the week before.

JamsyCoin (JAMSY)

Looking at the daily performance of JasmyCoin (JASMY), the market value of this altcoin has jumped by 11%, to the current price of $03564. The market activity of the particular coin has been quite steady and the trading volume has been rising, up to 17.9 percent to nearly $453. 85 million and there has been an increase in the number of investors as compared to the previous year. This led to a surge in price, and JASMY reached its high of $0.036 before it faced slight resistance which may behave as short-term resistance level.

On the downside, initial support can most probably be seen in the $0.0316. The price was trading at a level where reversal was seen before the next upsurge. This zone can act as a support level in case of a bearish breakout of the current upward trend to create a barrier to the decline.

Lido Dao

Among others, Lido DAO (LDO) has registered a significant price surge over the past 24 hours with its price up by 8.34% to its prior day close at $2.55. This increase is accompanied with the total volume increase of 25.60% to $179 million, which indicates that the market is actively engaged.

During the same period of time, LDO rose to a high of $2.56, thus making it the temporary resistance point. On the other side, it is observed that support has strengthened in the $2.35 marked price levels, where the price stabilized before rising. This kind of price formation indicates that the pressure might remain at the current levels, while the price tested higher levels of resistance in case of continuous buying pressure.

Bitget Token BGB

Bitget Token (BGB) has witnessed a notable increase of 7.80% in the last 24 hours, climbing to a price of $1.45. This rise is however supported by an increased trading volume of about $71. 290,7 million.

The price volatility of the token has also been relatively stable with a support region established at $1.35 mark and the current resistance near the daily high of $1.49. If the BGB price will continue its upward trend, then it may try to break out of this resistance range even higher and further. On the other hand, a breakdown below the trend support line may lead to retesting of lower higher lower prices levels.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

Related Stories

No stories found.
Analytics Insight