These cryptocurrencies that resist the market fall

Linked to artificial intelligence or web 3, certain cryptocurrencies are resisting amid the turbulence of the ecosystem.

Amid the general correction in the market, some cryptocurrencies are doing a little better, notably altcoins or those linked to artificial intelligence. If we count last weekend which saw bitcoin waltz, we count 13 billion dollars of open interest which were destroyed for two billion dollars of call options sold: profit taking, liquidations massive in the face of current uncertainties with the attack on Israel by Iran, prospects of the bitcoin halving which will take place this Saturday, April 20.

So the futures positions have undergone a big clean-up. But in the middle of this ragging, we find the famous meme coins, these somewhat speculative and almost recreational cryptocurrencies, whose price has appreciated by an average of 15%, notably those which are emerging on the Solana blockchain.

A turbulent market context

Likewise, we have big movements on two cryptocurrencies, mew and slerf, which show gains of 80%, with several hundred million dollars of positions taken by a few “whales”, these crypto investors who have large quantities of tokens.

Finally, when tokens are linked to projects linking blockchain, web 3 and artificial intelligence, we have an average growth of 17%. Ultimately, there is nothing structural about all this, this is not what will cause bitcoin and ether to rise, but it is the first time that the crypto world has had to face such a turbulent general market context. And these first reflexes of withdrawal and sectoral selectivity could continue as long as we have this enormous geopolitical risk premium on the markets.