Axiom’s trading volume increased to over $100 million, outperforming competitors on Solana. Bitcoin is currently trading above $85,500 and may approach $95,000, while altcoins like Brett and Story see gains due to market optimism from a tariff pause. However, Dogecoin and Bitcoin Cash experienced losses. XRP shows bullish trends, and VeChain gains momentum after a breakout. Overall market volatility is high, with significant liquidations occurring.
Axiom reported a significant increase in trading volume, surpassing $100 million for the first time, thus outpacing competitors like Photon and Bullx on the Solana blockchain. As of Tuesday, Solana (SOL) was priced at $132 following a recovery from the recent downturn caused by tariffs imposed by the US government.
Bitcoin (BTC) is trading above $85,500, recovering nearly 7% over the past week, and showing potential to reach $95,000. The surge in the Global M2 money supply is seen as a positive development for both Bitcoin and gold. However, traders should remain cautious due to notable liquidity levels around $85,800, which could influence volatility.
Recent market trends indicate that select altcoins, including Brett, Story, and Virtuals Protocol, experienced gains following a 90-day pause in tariff wars by President Trump. This respite has provided support for various cryptocurrencies, enhancing market optimism.
Dogecoin and Bitcoin Cash faced declines of 3% and 8%, respectively, attributed to a selling wave from the futures market. Despite slight gains in major cryptocurrencies like BTC and Ether, the broader market experienced pressure.
XRP displayed bullish behaviour, trading at $2.1505, buoyed by increased investor confidence due to tariff suspensions. This positive sentiment may lead to a sustained upward trajectory for XRP.
VeChain (VET), currently priced at $0.023, showed a promising outlook after breaking out from a falling wedge pattern, indicating potential for significant gains, especially following its listing announcement on Bybit.
The meme coin sector faced a noticeable sell-off, losing 4.8% in market cap to around $49.25 billion. This trend coincided with a temporary shift of funds towards Bitcoin, which tested the $85,000 mark.
Bitcoin extended its recovery to approximately $82,500 on Friday after reaching a year-to-date low of $74,508 at the week’s start. Nonetheless, market uncertainty persists, leading to liquidations of $2.18 billion across cryptocurrency markets.
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