The crypto market today held steady as investors remained optimistic that the worst is now behind us. This hope rose after stocks and crypto prices surged on Friday, with the top three US indices like the Dow Jones, Nasdaq 100, and S&P 500 rising by over 1.5%.
The challenge, however, is that the crypto fear and greed index remains in the fear zone of 21. Also, there are signs that Bitcoin has remained stubbornly below the key resistance level at $85,000. Let’s explore some of the top movers in crypto like PancakeSwap (CAKE), Mantle (MNT), Mantra (OM), Ripple (XRP), and Hedera Hashgraph (HBAR).
CAKE rises as PancakeSwap volume jumps
The CAKE price rose by over 10% in the last 24 hours, moving from this week’s low of 1.3953 to a high of 1.8500. This rebound happened as third-party data showed that it was the most active decentralized exchange (DEX) in the BSC Chain.
It handled about $1.15 billion in the last 24 hours, bringing the weekly total to $7.9 billion. Its volume was much higher than other DEX networks in the BSC network like THENA, Dodo, and Pendle.
Mantle price rises as investors buy the dip
The Mantle (MNT) coin price has risen in the past few days. It jumped from a low of $0.6610 on March 9 to a high of $0.80, its highest level since February 25.
There was no clear catalyst for the Mantle price rise, meaning that it happened as investors bought the dip. Mantle is gearing to a relatively strong year as the developers focus on key six parts, including the enhanced index fund, Mantle Banking, MantleX, mETH protocol, and ignition FBTC.
Mantra price stabilizes
Mantra was one of the best-performing coins in the last few years as it moved from below zero to almost $10 this year. It has retreated by almost 30% from its highest level this year.
Mantra price was trading at $6.56 on Sunday as it attempted to bounce back and retest its all-time high. The key catalyst for the OM price is the upcoming OM GenDrop that will reward core members of the community. As part of this airdrop, the network has worked to eliminate potential accounts that fraudulently registered for the airdrop.
Technicals suggest that the Mantra price will likely resume the uptrend and retest its all-time high later this year.
Meanwhile, XRP and HBAR prices were some of the top laggards in the crypto market today as they dropped by about 2% on Sunday. Other top laggards were coins like Story (IP), Kaspa, AAVE, and Stellar. These losses were relatively small as they averaged less than 2%.
Federal Reserve decision and tariff news
The next catalyst for these crypto prices will be Donald Trump’s actions, who has embarked on a strategy to push the US into a self-inflicted recession. He has added tariffs on imported goods from countries like China, Canada, and Mexico.
These tariffs have led to a stock market crash, impacting other assets like cryptocurrencies. On the positive side, there are signs that these assets have now priced in the tariffs, which explains why the key indices like the Dow Jones and Nasdaq 100 rose.
The upcoming Federal Reserve interest rate decision is the other important crypto catalyst. Bitcoin and other coins will likely do well if the central bank embraces a more dovish tone in this meeting. Odds are that it will signal that it will deliver more rate cuts later this year if the US sinks into a recession.
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