The leading cryptocurrency, Bitcoin, rose to $38,000 last week, its peak in the last 18 months, but failed to hold on there and fell to $34,800 last night.
While the decline in BTC was accompanied by most altcoins, some altcoins diverged positively from the market and upset those who expected a decline with their rise.
Altcoins with positive divergence from BTC and most altcoins included Solana (SOL), Avalanche (AVAX), Celestia (TIA), PancakeSwap (CAKE), dYdX (DYDX), and Lido DAO (LDO).
DYDX 24.7%; TIA 18.5% CAKE 15.7%; AVAX 11.5%; SOL and LDO increased by 10% and 11.3% respectively, and were among the altcoins that gained the most and differentiated positively from the market.
This increase in CAKE also increased the transaction volume. Accordingly, the transaction volume increased by 110% in the last 24 hours, reaching 284 million dollars.
Analysts evaluating the rise of CAKE at this point said that this jump in CAKE was unusual and showed that it could be the beginning of something impressive for CAKE.
CAKE, which rose to $2.65, continues to be traded at $2.63 at the time of writing.
*This is not investment advice.