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Top crypto tokens trending today amid Bitcoin price decline
It’s a new dawn for cryptocurrencies and, once again, there’s an unexpected twist!
The global market capitalization saw a modest decline of 1.5% over the past day to $2.46 trillion. Even the crypto king, Bitcoin, is down 1%. Despite this, attention is drawn to specific tokens that are making waves with significant developments.
As the broader market adjusts, tokens like Worldcoin (WLD) and Litecoin (LTC) stand out with their intriguing movements.
Should they fit in your wallets? Let’s read on to find out.
Worldcoin: Powered by Artificial Intelligence?
Worldcoin, powered by AI technology, has seen an impressive increase in market capitalization, rising by a remarkable 44% in the month of May. This surge, picking up from the recent low in April, coincides with an increase in chatter about the role of artificial intelligence in financial activities following Warren Buffett’s comments.
Supporting Worldcoin’s growth, Santiment data shows a substantial 21.5% increase in total open interest in a single day, rising from $131.9 million to $160.3 million. This indicates a significant increase in investor interest.
In response to these market dynamics, WLD it rose 23.6% in the last 24 hours, reaching a trading price of $6, a level not seen in three weeks. Currently, the asset’s market capitalization stands at $1.32 billion, placing it as the 70th largest digital currency by market capitalization.
Litecoin makes a strong comeback
Meanwhile, Litecoin is back in the spotlight, fueled by rumors about its potential Litecoin Grayscale exchange-traded funds (ETFs). This renewed interest sparks speculation and attention about the ETF’s future developments.
Santiment’s insights, shared by trader Kamikaze, shed light on Litecoin’s recent behavior. Despite price fluctuations ranging from $113 to $74.50 over the past two months, Litecoin has managed to stay above $80.
However, technical indicators such as the EMA suggest a possible bearish turn, with the potential for a crossover between the 20-day and 100-day EMA. This could lead to increased selling pressure, possibly extending the ongoing consolidation. Furthermore, the daily RSI hovering around 44% signals neutral to bearish market sentiment.
Amid these changes, investors remain vigilant, carefully watching market dynamics and developments to take advantage of emerging opportunities.
Also check: Altcoin Market Rises as Bullish Pattern Suggests Breakout: Is It Time to Diversify From Bitcoin?
The cryptocurrency market is full of surprises. Which tokens are catching your attention right now?