The overall crypto market is now reporting a major decline. Many analysts see a combination of factors at play including rising Fears of recession, tightening monetary policy, and run-away inflation. The downtrend will also continue for a few more weeks before we see some trend reversal. Here are some of the main bear market facts in crypto.
Bitcoin and Ethereum, two of the biggest coins, have all reported over 35% declines in 7 days.
Overall market cap in crypto has fallen below $1 trillion.
BTC also dropped below $20,000 for the first time since 2020.
So, with all this doom and gloom, it can be hard to find coins that are actually performing. No worries because the ones below are doing quite well:
The LEO token has somewhat defied the odds. The coin has seen major gains over the past weeks in fact, it’s only 40% down from its all-time highs.
Compare this to other coins that are so far 80 – 90% lower from their ATHs. Also, LEO saw a gain of 16% over the past 24 hours. The coin has by far outperformed all major coins and could maintain this trajectory over the next week or so.
With a market cap of around $360 million, Flex is not one of the largest crypto assets out there. But the coin has done quite well over the last week. The coin is typically used to pay for fees on the Coinflex exchange. As of now, FLEX is around 35% from its ATH. It has also seen a modest 2% gain over the past 24 hours as most coins see red.
KCS is another exchange token that has also seen some decent uptrend. Although KCS is around 60% from its all-time high, it has still outperformed the market modestly. Nonetheless, KCS saw a drop of 10% over the last 24 hours or so.
The post These coins are performing relatively well despite the bear market appeared first on CoinJournal.