Aster surges as Bitcoin and Ethereum slip
The crypto market remains weighed down by profit-taking, causing further losses.
The crypto market remains weighed down by profit-taking, leading to further losses in prices. While heavyweights like Bitcoin and Ethereum are losing ground, the altcoin Aster is actually making an unprecedented surge.
Cryptomarket in the red
The total market capitalization of all cryptocurrencies fell 0.3% in the last 24 hours, just under four trillion dollars.
- Bitcoin gave up 0.5% and is currently at $112,000. On a weekly basis that’s a 3.5% drop.
- Ethereum lost 1% on the day and slipped to $4,155, a 7% decline over seven days.
- Other big coins like XRP, Solana, Dogecoin, Tron, and Cardano also logged losses up to 4%. Only BNB managed a small gain, up 2.5%.
Aster as the absolute standout
In sharp contrast to the rest of the market, Aster is delivering a true fireworks show. The altcoin price jumped by a whopping 18% and broke the symbolic $2 level. Since launch on the Binance-DEX, the coin has even quadrupled in value in a short time.
The question now is whether this spectacular rise is sustainable, or if investors should expect a quick correction. Analysts point out that hype around new tokens often runs hot and cold, but Aster’s price action is undeniably catching investors’ attention.
Fear dominates among investors
Despite Aster’s rebound, gloom hangs over the market. The Crypto Fear and Greed Index fell to 44, signaling fear. A sentiment recovery seems unlikely for now.
Historically, September is a weak month for Bitcoin and the broader crypto market. Still, if the current trend continues, Bitcoin could close this month up a little over 3%, according to Coinglass data.
