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The crypto market is bearish, but these 2 tokens are still outperforming

The crypto market is bearish, but these 2 tokens are still outperforming

Amid a tough day with the cryptocurrency market down on September 11, the last 30 days were also marked by a bearish sentiment and poor price performance for most cryptocurrencies

However, two digital assets are still outperforming everything else in the top 100 by market cap.
In this context, most projects are suffering huge losses, except for two gainers: Telegram’s Open Network Toncoin (TON) and THORChain (RUNE). Both TON and RUNE are surging by over 28% each in the last 30 days, according to the CoinMarketCap index.

Top Gainers in the last 30 days, among the top 100. Source: CoinMarketCap

Meanwhile, the crypto market has lost over $140 billion (-12%) from its total market capitalization in the last 27 days since August 15.

Crypto total market cap. Source: TradingView (CRYPTOCAP)

Toncoin (TON) price analysis

Toncoin is the native token for The Open Network, developed in 2018 by Telegram. This open network is a layer-1 blockchain like Ethereum (ETH), Cardano (ADA), Solana (SOL), and other known competitors.

Meanwhile, TON is priced at $1.69 by press time, up 32% in the month, although losing close to 5% in the last 24 hours as the crypto market dips.

TON 1-month price chart. Source: CoinMarketCap

THORChain (RUNE) price analysis

RUNE is being traded for $1.46 at the time of publication, also losing around 5% in the day but with 28% registered gains in the last 30 days.

RUNE 1-month price chart. Source: Finbold

According to the project description:

“THORChain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process.”

— CoinMarketCap on THORChain (About)

Interestingly, the chain has been mostly used by Bitcoin (BTC) holders directly swapping their coins for other cryptocurrencies from different blockchains.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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