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Top crypto tokens trending today amid Bitcoin price decline
As the global cryptocurrency market capitalization declined by 1.5% to $2.46 trillion over the past 24 hours, specific tokens are making significant moves and attracting attention. Bitcoin, the world’s largest cryptocurrency by market capitalization, is down 1%.
However, amidst this market movement, specific tokens like Worldcoin (WLD) and Litecoin (LTC) are showing notable developments and generating interest in the market.
Worldcoin recorded a 44% increase in May
Worldcoin (WLD), an AI-based asset, has seen notable growth with a 44% increase in market capitalization in May, rebounding from the low seen in late April. This upward momentum coincides with growing interest following controversial remarks made by Warren Buffett, which highlight concerns about the role of artificial intelligence in enabling illicit financial activity.
In line with this surge, Santiment data reveals a substantial 21.5% increase in WLD’s total open interest, rising from $131.9 million to $160.3 million over the past day.
In response to these market dynamics, WLD has grown by 23.6% in the last 24 hours, reaching a trading price of $6, a level not seen for 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
On the other hand, Litecoin, a well-known cryptocurrency, has garnered renewed interest due to discussions about potential Litecoin exchange-traded funds (ETF) with grayscale. This renewed interest is driving speculation and market attention on future ETF developments.
Recent data from Santiment, as noted by trader Kamikaze, sheds light on Litecoin’s market behavior. Over the past two months, the price of Litecoin has fluctuated from $113 to $74.5 in two months, maintaining above $80 notwithstanding This.
However, the EMA, a reliable technical indicator, signals a potential bearish crossover between the 20-day EMA and the 100-day EMA. This could increase selling pressure and extend the current consolidation. Furthermore, the daily RSI around 44% indicates neutral to bearish market sentiment.
As these tokens continue to make waves in the crypto space, investors are closely monitoring developments and market dynamics to take advantage of emerging opportunities.