Recent market movements indicate significant fluctuations in leading cryptocurrencies such as Binance Coin (BNB) and Toncoin (TON). Although they made some gains at the end of the week, these assets experienced significant declines with the start of the new week.
According to CryptoRank data, leading cryptocurrencies such as BNB and TON were among the most damaged among the top ten cryptocurrencies, losing over 3% in value in the last trading session.
BNB and TON Start the Challenging Week$BNB
The weekend provided a promising start for major cryptocurrencies such as Bitcoin (BTC), with major assets such as Binance Coin (BNB) and Toncoin (TON) reporting gains. However, this positive momentum was short-lived. As the new week began, the top ten cryptocurrencies as of July 7 closed in the red, with BNB and TON leading the declines.
A Detailed Analysis of Binance Coin's Latest Performance
As of July 3, BNB has experienced significant volatility. Its price initially fell to around $556, a 4% decline. This decline intensified further the next day, with BNB losing more than 7%, dropping its price by another 3% to approximately $498 on July 5.
Despite this difficult period, BNB saw a short-lived recovery, temporarily rising above $500 with an increase of more than 5%. However, after this increase, at the beginning of the new week, BNB dropped its price to approximately $490, a decrease of 6.73%. According to the latest data, BNB is trading at around $500, up a modest 2%, causing investors to question whether this is a true recovery or a temporary move.
Toncoin (TON) has moved similar to volatility patterns on Binance Coin. According to recent analysis, the price of TON began to decline on July 3, initially decreasing by 2.73% to around $7.8. The biggest drop occurred on July 4; Its price dropped to around $7.1, a significant loss of 9.7%.
Despite the sharp declines, Toncoin made a temporary recovery as of July 6, closing the week up 5% and trading at around $7.5. However, as with BNB, the start of the new week erased gains in TON's price, with TON falling nearly 7% to around $7. According to the latest data, Toncoin is trading at around $7.1, with a small gain of more than 1% signaling a potential but cautious recovery.
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I EXPLAIN IN DETAIL.
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