3 Safe Haven Cryptocurrencies Amid Crypto Market Bloodbath
The crypto market correction since early July has pushed Bitcoin below $60,000. Major cryptocurrencies face liquidation pressures, but some show resilience and potential for reversal.
**HIGHLIGHTS**
- Global crypto market cap: $2.06 trillion, with a 39.6% drop in daily trading volume to $131.2 billion.
- Bitcoin’s Fear and Greed Index at 29% indicates bearish sentiment.
- Bitcoin price above 50% Fibonacci retracement suggests a healthy correction.
### 1. Toncoin (TON)
Toncoin (TON) of The Open Network, originally developed by Telegram, holds firmly above $6.7 despite the market correction. With a 207.1% YTD gain, it shows strong demand pressure. Current price: $17.85 billion market cap. Potential rebound to $8.2.
### 2. TRON (TRX)
TRON, a blockchain platform for digital entertainment, has maintained an uptrend since November 2022. After a recent 12.56% rise to $0.12, its market cap is $11.07 billion. If support holds, TRON could continue its bullish trend.
### 3. BONK
Bonk, a meme coin on Solana, dropped 59% amid the correction but rebounded 11% to $0.000023. Its market cap is now $1.57 billion. If support holds, BONK could breach $0.000027 and $0.000035.
Key Takeaway
Despite market-wide bearish trends, Toncoin, TRON, and BONK show resilience, maintaining their positions against selling pressures.
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