The overall crypto market is now registering a significant decline. Many analysts see a combination of factors at play, including rising recession fears, tighter monetary policy and runaway inflation. The downtrend will also continue for a few weeks before we see a trend reversal. Here are some of the key facts about the bear market in crypto.
Bitcoin and Ethereum, two of the biggest coins, all reported declines of over 35% in 7 days.
The overall crypto market cap has fallen below $1 trillion.
BTC also fell below $20,000 for the first time since 2020.
So, with all this doom and gloom, it can be hard to find parts that actually work. No worries because the ones below are doing pretty well:
UNUS SED LEO (LEO)
The LEO token somewhat defied the odds. The coin has seen significant gains over the past few weeks, in fact, it is only down 40% from its all-time highs.
Data Source: TradingView
Compare this to other coins that are 80-90% lower in their ATHs so far. Additionally, LEO has seen a gain of 16% in the last 24 hours. The coin has far outperformed all major coins and could maintain this trajectory over the next week.
With a market capitalization of around $360 million, Flex is not one of the biggest crypto assets. But the coin has been doing pretty well over the past week. The coin is usually used to pay fees on the Coinflex exchange. Right now, FLEX is at around 35% of his ATH. It also posted a modest 2% gain over the past 24 hours, with most coins seeing red.
KCS is another exchange token that also had a decent uptrend. Although KCS is around 60% off its all-time high, it still slightly outperformed the market. Nonetheless, KCS has seen a 10% drop in the past 24 hours or so.