Altcoins MNT, AVAX, ASTER Defy Market Downturn—Here’s Why
Amid a broader downturn in the cryptocurrency market, altcoins Mantle (MNT) and Avalanche (AVAX) have achieved notable double-digit gains. Mantle, part of the Ethereum layer-2 ecosystem, recently announced a partnership with a centralized exchange, resulting in a market cap increase to $5.9 billion. AVAX surged by 10.7% within a day and 12% weekly, driven by a significant investment from a Bitcoin mining firm purchasing $550 million worth of AVAX. This move has propelled Avalanche's trading volume, reaching $4.29 billion—its highest since December 2023. Additionally, the new decentralized exchange Aster has also posted gains, with its ASTER token climbing 7%, backed by a spike in total value locked from $378 million to $1.46 billion. This resilience in MNT, AVAX, and ASTER contrasts sharply with a noticeable decline in Bitcoin and Ethereum prices, reflecting the volatility and shifting dynamics within the cryptocurrency sector.
Source 🔗