In brief<\/p>\n
The crypto market has experienced a notable downturn over the past week, and is trading flat on the day. However, a handful of altcoins are defying this move, with some even posting double-digit gains on the day.<\/p>\n
The biggest winner of the day is Ethereum layer-2 network Mantle, which climbed 12.1%<\/a> on the day to a $5.9 billion market cap as the 37th largest cryptocurrency. The double-digit jump follows Mantle\u2019s partnership<\/a> with centralized exchange Bybit<\/a>, which offers higher leverage rates and better loan terms for institutional investors.<\/p>\n Another notable altcoin winner is Avalanche<\/a>, which jumped 10.7% on the day and 12% over the past week to a $14.5 billion market cap, making it the 15th largest cryptocurrency according to CoinGecko<\/a>. It comes the day after a Bitcoin mining firm rebranded to AVAX One<\/a> and bought $550 million worth of the token in a digital asset treasury pivot, causing its stock to leap 200%.<\/p>\n On top of this, Avalanche recorded $4.29 billion in trading volume on Monday and $4.46 billion on Friday, the highest for the token since December 2023, per CoinGlass<\/a>. On Monday, AVAX experienced a spot daily inflow of $6.67 million and a futures daily inflow of $80.44 million.<\/p>\n No other top 100 cryptocurrency outside of Mantle and Avalanche has made a double-digit move.<\/p>\n Another cryptocurrency posting significant gains is Aster<\/a>, a new perpetual futures decentralized exchange on the Binance Smart Chain<\/a>, which has been tipped to rival the ever-popular Hyperliquid<\/a>. Its ASTER token has jumped 7% in the past 24 hours, taking it to a $2.8 billion market cap and making it the 56th largest cryptocurrency according to CoinGecko<\/a>.<\/p>\n Aster\u2019s move appears to be tied to the exchange\u2019s total value locked spiking from $378 million last week to $1.46 billion at the time of writing, per DefiLlama<\/a>. It also claims<\/a> to have hit $6 billion in perp trading volume on Monday.<\/p>\n Users of Myriad<\/a>, a prediction market developed by\u00a0Decrypt’s parent company DASTAN, believe that Aster has a 67% chance of continuing its move upwards from $1.70 to $2 by the end of the month.<\/p>\n The fourth largest gainer of the day is AI project NEAR<\/a> (up 4.2%), followed by Cronos’ CRO<\/a> (up 4.2%), and layer-1 network Stellar<\/a> (up 3.3%).<\/p>\n Meanwhile, Bitcoin<\/a> and Ethereum<\/a> are trading flat following a dramatic start to the week which saw $1.6 billion worth<\/a> of liquidations across the crypto market on Monday.<\/p>\n Daily Debrief Newsletter<\/p>\n Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n