- TRON shows bullish momentum with rising open interest and increased market activity.
- Toncoin and Avalanche face downward trends despite upticks in trading volume and liquidations.
- Jupiter and Popcat experience strong rallies fueled by significant trading volume surges.
The crypto market is showing mixed signals, with some tokens rising and others falling. TRON and Jupiter are up, while Toncoin and Avalanche are down.
TRON (TRX) Gains Momentum
TRON, which is currently trading at $0.1632, rose 1.78% over the past day. It has a market cap of $14.12 billion, and its daily trading volume is up 20.82% to $344.81 million.
TRON’s future open interest has fluctuated throughout the year. After spiking above $200 million in July, open interest dropped between August and October, hovering between $50 million and $100 million.
However, open interest increased as TRX’s price climbed, with spikes in February and August 2024 reflecting high market participation.
Toncoin (TON) Declines
Toncoin, which is currently trading at $5.14, fell 1.10%. It has a market cap of $13.12 billion, and its 24-hour trading volume is up 11.08%.
Despite the uptick in trading volume, TON’s price has struggled to recover after peaking at $5.22 on October 23rd, dropping below $5.10 before rebounding.
Avalanche (AVAX) Sees Increased Volatility
Avalanche, which is currently trading at $27.11 after a 0.96% decline, has seen a rise in market activity, with a 15.78% increase in trading volume to $307.06 million. However, its price is down after falling from $27.37 to $26.50.
AVAX’s market has experienced liquidation events throughout 2024. There were major liquidations of long and short positions in May, July, and early August, especially when volatility increased.
Notably, long liquidations spiked in early August as the price rose briefly, exceeding $1.73 million in liquidations. In late October, long and short liquidations ticked up, showing the ongoing speculative activity and investor uncertainty about AVAX’s future price movements.
Jupiter (JUP) Rallies
Jupiter, which is trading at $1.06, jumped 9.76% over the past 24 hours, thanks to a rise in trading volume, which increased by 80.57% to $330.98 million. The token’s price rose steadily, reaching $1.10.
Popcat (POPCAT) Surges
Popcat has been one of the top performers, trading at $1.62 after an 18.49% rise over the past 24 hours. The asset has seen a 26.88% increase in trading volume, showing strong market interest.
The price has risen sharply from $1.37 on October 23rd, reaching a peak of $1.65 in the early morning hours of October 24th.
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