Crypto Market Stable Above $3.4 Trillion Amid Modest Gains and Volatility

The global crypto market maintained stability above the $3.4 trillion mark, despite fluctuations in price action and moderate volatility. Major cryptocurrencies such as Bitcoin and Ethereum posted modest gains, while smaller altcoins experienced significant surges driven by retail speculation and narrative-driven momentum.

Bitcoin rose by 0.68% to $108,907, and Ethereum advanced by 1.81% to $2,570. However, the trading volumes for these major coins dipped slightly, indicating limited conviction behind the price movements. The Fear & Greed Index remained elevated at 73, suggesting a continued appetite for risk among traders.

Altcoins, particularly those with smaller market capitalizations, saw notable volatility. Toncoin, for instance, briefly surged by nearly 10% following rumors about a UAE-based “Crypto Golden Visa” tied to TON staking. However, the rally quickly reversed after authorities denied any involvement, highlighting the market's sensitivity to unconfirmed news and the potential for sharp, short-lived moves in narrative-driven tokens.

Upcoming token unlocks are expected to add pressure to the market. Over $303 million worth of token unlocks are scheduled for the next week, including one-time unlocks for APT, IMX, IO, MOVE, and AGI, as well as daily linear unlocks for assets like SOL, DOGE, WLD, and DOT. These unlocks could trigger sharp price dips if market demand does not absorb the new supply, as seen in past cases with large unlocks for APT, WLD, and SUI.

Several low-cap tokens outperformed the broader market, with KORI surging by 117.9% and MYX jumping by 96.9%. Other tokens like ECHO, BONK, and VIC also logged double-digit gains, driven by social momentum and short-term speculation. These gains reflect a rising appetite for higher-risk bets amid stable macro conditions. The Altcoin Index currently sits at 32/100, suggesting that altcoins still have room to catch up if bullish sentiment grows.

In summary, the crypto market is currently in a state of cautious optimism, with major coins posting modest gains and smaller altcoins experiencing significant volatility. Upcoming token unlocks and narrative-driven momentum are key factors to watch, as they could influence market stability and price movements in the coming days. Traders are advised to remain vigilant and monitor these developments closely.