The decline in Bitcoin following Fed Chairman Jerome Powell's statements led to major fluctuations in the altcoin market.
The interest rate decisions announced on December 18 and Powell's hawkish stance had a negative impact on cryptocurrencies. Powell's messages in particular created strong selling pressure on Bitcoin, while altcoins experienced a similar decline. However, some altcoins quickly recovered and closed the day positively. So, which altcoins stood out in this process?
1. Movement (MOVE)
MOVE, which has recently started to be traded on popular exchanges, has attracted attention by rapidly recovering. MOVE, which gained 15 percent in the last 24 hours, has reached the top of the list. The $0.75 level is seen as the critical resistance point for the parity in the short term.
2. Ethena (ENA)
ENA, one of the important altcoins of the Ethereum ecosystem, gained 8 percent in value in the last 24 hours. Donald Trump's DeFi-focused project World Liberty's purchase of ENA increased interest in the token, and this development contributed to the rise of ENA.
3. Bitget Token (BGB)
Crypto exchange Bitget’s native token BGB has seen a 5 percent increase in the last 24 hours. With this increase, BGB moved into third place on the list and gave positive signals about the future of the exchange’s native tokens.
4. Pudgy Penguins (PENGU)
PENGU, the token of the Pudgy Penguins NFT collection, showed a performance of 4 percent in the last 24 hours. The airdrop made investors happy and kept PENGU on the agenda.
5. AIOZ Network (AIOZ)
AIOZ, one of the artificial intelligence-focused cryptocurrencies, showed an unexpected rise. Increasing by 1 percent in the last 24 hours, AIOZ gives hope for the bull season by taking a strong stance against Bitcoin. With the rise of the artificial intelligence trend, larger price movements can be observed in AIOZ.
Despite the decline following Powell's statements, these altcoins continue to attract investors' attention by showing a strong performance in the market.