While most altcoins continue to lose value in the current cryptocurrency market, analysis company Santiment has identified some altcoins that have managed to partially resist this trend.
According to Santiment analysts, Solana (SOL), Bitcoin SV (BSV) and Injective (INJ) managed to increase their market value despite the downward trending altcoin market.
However, analysts shared that the ratio of Bitcoin's market value to the rest of the cryptocurrency market continues to rise, meaning BTC dominance remains in an upward trend.
According to Santiment analysts, Bitcoin increased by approximately 2% during the day, while SOL increased its market value by 5%, BSV by 5%, and INJ by 6%.
In the chart shared by Santiment, it is observed that many other altcoins are in a downward trend. Although the general cryptocurrency market is in a downward trend, with the rise in some tokens, the crypto market gained 0.39% in value in the last 24 hours and reached a market value of 1.09 trillion dollars.
BlackRock CEO Larry Fink said in a recent statement that in times of uncertainty like the one we are in, people turn to Bitcoin because of their “tendency to escape to the safe zone.” BlackRock is known as the world's largest asset manager. Fink was a staunch BTC critic until a few years ago.
*This is not investment advice.