The market outlook is bearish after Bitcoin (BTC) slipped below its psychologically significant level at $60,000. Despite the bearish outlook in BTC Price and the impact on top coins like Ethereum (ETH), the trio of Toncoin (TON), Uniswap (UNI), and Cronos (CRO) have decoupled from the former’s grip.
BTC price fell as low as $58,752.78 in the past 24 hours, derailing most altcoins’ prior momentum. At the time of writing, the price of Bitcoin has recovered to $59,114.28, down by 2.88% in 24 hours.
Based on the Toncoin, Uniswap, and Cronos Decoupling
It is not uncommon to find outliers in the market whenever the price of Bitcoin is facing a downtrend. At times like this, ecosystem fundamentals and technical indicators overshadow the bearish turns. This is the case for TON, UNI, and CRO.
At the time of writing, Toncoin was trading for $6.969, up 7.26% in 24 hours compared to Bitcoin. While the price of Bitcoin is maintaining a 6.82% surge in the trailing 7-day period, Toncoin is up by more than 28%.
Impressive as TON is, it is not the only coin with impressive performance against Bitcoin. UNI, the native token of the Uniswap Decentralized Exchange, has jumped by 3.46% to $6.381. In the past seven days, UNI has added a 13.49% surge to its market valuation, making it one of the most profitable in the altcoin world today.
CRO is also an exchange token with a 2.29% 24-hour growth to $0.09029. Cronos has even recorded a more ambitious 14% growth over the past seven days.
While the market is still recording volatility following the US CPI inflation data release, the pace set by these altcoins might trigger a more impressive breakout.
The Encroaching Altcoin Season
It is worth noting that different analysts have predicted the coming of an altcoin season. Though many theories support this projection, the individual ecosystem fundamentals of these featured altcoins will be instrumental in their growth push.
Toncoin is powering an ecosystem with an aggressive growth push. The Open Network (TON) and Telegram are catalyzing some of the most embraced Tap-2-Earn games in the ecosystem, including Notcoin and Hamster Kombat. The millions of users of these platforms and their demand for TON places Toncoin as a favorite to take the frontline lead in the coming altcoin season.
As exchanges with unique addressable markets, the duo of Uniswap Crypto.com is also powering ecosystem growth. While Uniswap has a pending Wells Notice from the US SEC, its unique product offering and precedence from Ripple versus the SEC case place it in line for growth.
Crypto.com is financing a major global awareness campaign that might drive more users to its platform and potential, the Chronos Chain. Recently, it was named the official crypto partner of the UEFA Champions League. This collaboration will give it more global exposure that can power its growth.
While these altcoins have unique fundamentals, the impact of spot Bitcoin ETF is also important. The embrace of firms like Goldman Sachs, Morgan Stanley, and others will also play a crucial role in returning BTC to new highs, which in turn will impact altcoins in general.
, Uniswap (UNI), and Cronos (CRO) have decoupled from the former’s grip.){kind=link}