Crypto analyst Miles Deutscher has shared recent data highlighting a challenging period for the digital asset market, revealing that only 12 out of the top 100 cryptocurrencies by market capitalization have posted positive returns in the past three months.
Leading the way in gains was BERA, which skyrocketed by nearly 580%, followed by TRUMP with an 85% increase and BGB at 72%. Other notable gainers included DEXE, IP, GT, OM, PAXG, XMR, XAUt, HYPE, and LEO.
On the flip side, many prominent cryptocurrencies faced substantial declines. Chainlink (LINK) experienced a sharp 40% drop, followed by Sui (SUI) at -39.48%, and JTO at -38.83%. Bitcoin (BTC) saw a 13% decrease, while Binance Coin (BNB) fell by 19.25%, and Cardano (ADA) suffered a 30% loss.
Deutscher pointed out the difficulty investors are facing in the current environment, which he describes as a “rotational market.”
Unlike previous bull markets where long-term holding was often rewarded, capital is now rapidly shifting between various sectors and assets, making it harder to find consistent winners.
Thailand’s financial regulator has granted approval for the use of Tether’s USDt and Circle’s USDC in cryptocurrency trading, allowing them to be listed on licensed exchanges.
Stablecoins are attracting major attention from traditional financial players, with institutions like Bank of America, PayPal, and Revolut moving to introduce their own versions in response to a rapidly evolving market.
Binance has taken decisive action against a market maker involved in irregular trading activities related to two cryptocurrencies.
Data from IntoTheBlock suggests that the AI-driven altcoin, Kaito (KAITO), is positioned for long-term success despite initial fluctuations in user engagement.