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The cryptocurrency market is showing signs of recovery in the new day after the challenging September 11th. The negative outlook in the market has resulted in a strong downward trend and poor performance, especially for altcoins, for the past 30 days. Despite the negative sentiment in the cryptocurrency market, two altcoins are outperforming other cryptocurrencies in the top 100 by market capitalization. Here are those altcoins and what you need to know.
TON and RUNE Against the Decline in the Cryptocurrency Market
Data provided by CoinMarketCap, a cryptocurrency data and price platform, reveals that the native assets of The Open Network developed by the instant messaging platform Telegram, Toncoin (TON) and THORChain (RUNE), are performing significantly well compared to other altcoins. Current data indicates that TON and RUNE have increased by 22% and 30% respectively in the past 30 days.
While the prices of TON and RUNE are rising, the total market capitalization of the cryptocurrency market has decreased by over 140 billion dollars, equivalent to 12%, in the past 27 days since August 15th.
The Current Situation of TON and THORChain (RUNE)
Toncoin is the native asset of The Open Network developed by Telegram in 2018. This public network is a Layer 1 Blockchain like Ethereum (ETH), Cardano (ADA), Solana (SOL), and other well-known competitors. According to the latest data, TON is currently trading at $1.69 with a 0.67% decrease in the past 24 hours. Data shows that despite TON’s negative trend in the past 24 hours, it has increased by 29.93% in the past 30 days.
The native asset of THORChain, a decentralized liquidity protocol that allows users to easily swap their cryptocurrencies across various networks without losing custody of their assets, RUNE, is currently trading at $1.50 with a 0.74% decrease in the past 24 hours. Data indicates that RUNE has increased by 34.13% in the past 30 days.
THORChain is prominently used by Bitcoin (BTC) holders to directly swap their cryptocurrencies with other cryptocurrencies on different blockchains.