It's important to stress that this article shouldn't be regarded as investment advice. The markets are extremely turbulent right now, and things can change in the blink of an eye.
It's been a torrid start to the week for the crypto markets.
That being said, not all altcoins have ended up in the red.
As of 3pm London time on Monday, a small handful of coins in the top 100 by market cap remain in positive territory.
While this may seem impressive on the face of it, WAVES may be overcompensating after a shock plunge of 16.3% in the space of three hours last Thursday.
The Proof-of-Stake blockchain describes itself as a "climate-neutral, high-speed and low transaction fee" network — and there doesn't seem to be any major news development in particular that's driving today's gains.
But this doesn't tell the entire story. LDO actually fell by 33% in the space of three hours earlier on Monday as the token's value tumbled from $3.36 to $2.25.
There are still signs that the embattled project is still being punished after crypto worth $625 million was stolen from the Ronin Network.
At the time of writing, AXS is trading at an 81.5% discount from all-time highs set back in November 2021.
That's a far steeper decline over the past six months than what Bitcoin and Ether have suffered — with both of these cryptocurrencies down by about 52%.
Crunching the Numbers
Overall, just five cryptocurrencies out of the top 100 by market cap are currently registering gains on a 24-hour timeframe right now — stablecoins excluded.
It's important to stress that this article shouldn't be regarded as investment advice — nor a suggestion that these cryptocurrencies are worth buying because they're the only ones in positive territory. The markets are extremely turbulent right now, and things can change in the blink of an eye.
A sizable number of altcoins have suffered double-digit losses over the past day as painful selloffs continue.