🌎 Cryptocurrencies Hold Steady as Risk Assets Waver on Triple Witching

Cryptocurrencies held steady on Saturday as the recent momentum among risky assets waned.

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 wavered, with the Dow Jones rising by 27 points and the S&P 500 and Nasdaq 100 indices falling by 0.25% and 0.29%, respectively. This price action was likely influenced by the triple-witching event, where options worth over $5.1 trillion expired.

Loom Network Leads Gains as Open Interest Rises

Loom Network (LOOM) surged by 18.7%, making it one of the best-performing altcoins. It jumped to $0.0668, its highest level since July 22, and marked a 61% increase from its lowest point this year. Loom’s 24-hour volume skyrocketed to over $174 million, surpassing its market cap of $80 million. Additionally, its open interest in the futures market climbed to over $27 million, reaching its highest level since March 27, and significantly higher than this month’s low of $4.7 million.

Ontology Gas (ONG) also stood out on Saturday, soaring for five consecutive days and hitting its July high of $0.387. Its market cap reached $142 million, and its open interest rose to $15.7 million, the highest level since June 7. However, Ontology’s ecosystem has struggled in recent years, with the total value locked in its DeFi ecosystem dropping to $7.1 million from a record high of $374 million in 2021.

Simon’s Cat Jumps to a Record High

Simon’s Cat (CAT) was another top-performing token, surging to a record high of $0.000040. The token’s market cap soared to over $297 million, while its exchange volume reached $168 million, the highest level since September 12. Simon’s Cat also saw an increase in the number of token holders, rising to 217,680 in the last 24 hours. Concurrently, the number of tokens in exchanges dropped to 1.85 trillion from last week’s 1.87 trillion, indicating more people are storing them in wallets.

Other Top-Performing Cryptocurrencies

The other notable cryptocurrencies included ARK, which rose by 23%, Powerledger, and Theta Fuel, which increased by 20% and 8%, respectively. On the other hand, Mother Iggy, Neiro on ETH, Billy, and Cat In A Dogs World were among the most notable laggards.