🌎 Celestia and Helium Lead Gains as Bitcoin Rebounds to $55K

Celestia and Helium led the top gaining altcoins among the top 100 cryptocurrencies by market cap as the price of Bitcoin rebounded to test the $55k mark.

After crypto prices dropped significantly during the Asian trading session on Aug. 5, the market experienced some relief during the U.S. session. Bitcoin has narrowed its 24-hour losses after rebounding from intraday lows under $50k, with the recovery aiding some altcoins. Notable among the gainers are Celestia and Helium, both of which posted double-digit gains before paring these slightly amid potential profit-taking.

Across the market, liquidations remained above $1 billion after a significant number of bullish bets got wiped out amid the crash in crypto and stocks. Crypto liquidations are still more than 199% up in 24 hours. Aug. 5 has also seen the most trading volume since March when BTC led crypto higher with its spike to a new all-time high. With over $244 billion traded in the past 24 hours representing a 230% surge, the increase in daily volume for crypto mirrored a similar increase across stocks.

Celestia and Helium Top Gainers in Top 100 Coins

Celestia (TIA), which traded to lows of $4.04 earlier in the day, was up 11.9% to above $5.16 at the time of writing. Meanwhile, Helium traded to above $4.7 with a 10% rebound before retreating. Both tokens were seeing 24-hour volumes of over 120%, suggesting there could be more ‘buy the dip’ opportunities in the coming hours.

Other notable coins experiencing upward momentum include Ondo Finance and Mantra. On the downside, Lido DAO, Arbitrum, and Near Protocol were among the top losers on the day, each with more than 12% declines in 24-hour trading.