Cryptocurrencies remained steady on Saturday as recent momentum among risk assets weakened.
Bitcoin (BTC) retreated to $63,000 from this week’s high of $64,000, while the total market cap of all coins remained at $2.2 trillion.
Other risk assets hesitated, with the Dow Jones gaining 27 points and the S&P 500 and Nasdaq 100 indices falling 0.25% and 0.29% respectively. As we wrote on Friday, This price action is likely due to the triple witching event, where over $5.1 trillion worth of options expired.
Loom Network led gains on rising open interest
Loom Network (LOOM) Recently Delisted from Binance, was one of the best performing altcoins as it jumped to $0.0668, its biggest move since July 22 and up 61% from its lowest point this year.
Loom soared, with its 24-hour volume soaring to more than $174 million, more than its $80 million market cap. Its open interest in the futures market jumped to more than $27 million, its highest level since March 27, and more than this month’s low of $4.7 million.
Ontology Gas (ONG) was also a top token on Saturday. It surged for five consecutive days, reaching its July high of $0.387 with a market cap reaching $142 million. Like Loom Network, ONT’s open interest reached $15.7 million, the highest level since June 7.
Basically, Ontology’s ecosystem has not been performing well in the past few years as the total value locked in its DeFi ecosystem has dropped to $7.1 million from a record $374 million in 2021.
Simon’s cat hits record
Simon’s Cat (CAT) was the other top performing token, hitting a record high of $0.000040. According to Nansen, The token’s market cap soared to over $297 million while its trading volume hit $168 million, its highest level since September 12.
Simon’s Cat also jumped, with the number of token holders rising to 217,680 in the past 24 hours, while the number of tokens on exchanges fell to 1.85 trillion, down from 1.87 trillion last week. A drop in the number of tokens on exchanges is a positive thing, as it means more people are storing them in wallets.
Other top performing cryptocurrencies were ARK, which rose 23%, Powerledger and Theta Fuel, which rose 20% and 8% respectively.
Mother Iggy, Neiro on ETH, Billy and Cat In A Dogs World were the most notable latecomers.
