Market News

Despite Bearish Cryptocurrency Market, Two Tokens Surge with Impressive Double-Digit Gains

Bearish, Cryptocurrency, DoubleDigit, Gains, Impressive, Market, Surge, Tokens

Cryptocurrency Markets: 2 Tokens Rise Double Digits

The cryptocurrency markets remained bearish this month, with little to no growth in September. Only a handful of tokens generated profits in a week, while the majority of cryptocurrencies dipped or traded sideways. The cryptocurrency market, which is known for its volatility, remained stagnant this week, but two tokens spiked by double digits. In this article, we will highlight the top-performing tokens this week that delivered decent returns.

Astar (ASTR) and Render (RNDR) Jumped Double Digits

Data from CoinMarketCap shows that Astar (ASTR) and Render (RNDR) jumped double digits in the indices this week. While Astar is up nearly 15% in the last seven days, Render spiked close to 12% during the same period. Both tokens are attracting bullish sentiment and have remained in the green for three consecutive days.

Astar’s Trading Volume Jumps 140%, Render’s Trading Volume Spikes 60%

Astar’s trading volume also jumped 140% in a week, while Render’s trading volume spiked 60%. These two cryptocurrencies remain at the top, outperforming leading tokens like Cardano’s ADA, Ripple’s XRP, VeChain’s VET, and Polkadot’s DOT.

Risk of Possible Sell-Off

However, taking an entry position into Astar and Render now could be a risky move as both tokens have reached their weekly highs. There are chances of a possible sell-off from investors initiating profit bookings that could pull its price down. Therefore, entering ASTR and RNDR now could be a risky move, as the tokens might experience a downturn.

Thorough Research Advised

It is advised to do thorough research before deciding to take an entry position in these cryptocurrencies this week. Read here to know the top 2 cryptocurrencies to watch out for in September 2023.

At press time, Astar was trading at $0.019 and was up 1.5% in the 24-hour day trade. On the other hand, Render was trading at $1.49 and is also up 1.2% in the 24-hour day trade.

Leave a Comment