- Small-cap tokens outperform majors as traders chase volatility in a calm market phase.
- $SAFE, $FORM, and $PENGU, fueled by hype and retail-driven momentum.
- MicroStrategy buys more BTC as VanEck eyes BNB ETF amid institutional expansion.
The broader cryptocurrency market is currently treading water, with major tokens showing minimal movement. As per CryptoRank data, Bitcoin (BTC) holds steady near $94,000, while Ethereum (ETH) remains close to $1,800.
This calm phase follows a wave of activity earlier this month, suggesting investors may be waiting on fresh catalysts. Despite the flat trajectory of the majors, several small-cap tokens have delivered significant gains in the past 24 hours, drawing trader attention toward emerging projects.
Market Sentiment and Key Metrics
The overall crypto market capitalization sits at $3.07 trillion, indicating stability despite the lack of price momentum. Liquidations over the past 24 hours totaled $152 million, a modest figure that aligns with the current sideways trend. The Fear & Greed Index registers at 59, signaling a “Greed” sentiment, which may fuel more speculative bets in smaller assets.
Small Caps Lead the Charge
Several low-cap tokens have outperformed the market, led by Verasity (VRA), which surged 23.6% in 24 hours. VRA is trading at $0.002752 as per the data fetched from CoinGecko at press time, boosted by increasing interest in its video verification technology. Over the past week, the token has rocketed 87.9%, making it a standout performer.
PURPLE PEPE (PURPE) climbed 22.1% in the past day and is priced at $0.00005445. This meme-inspired token has gained 38.2% over the past week, fueled by strong community engagement and speculative hype.
Pudgy Penguins (PENGU) also posted an 1.1% daily increase, now trading at $0.01196. With a massive 63 billion token supply, PENGU’s market cap has reached $753.7 million. The project benefits from high trading volume, which exceeded $179 million over the last 24 hours.
Gaining Momentum: SAFE, FORM, CHILLGUY
Safe (SAFE) rose 16.13% to $0.5185, pushing its market cap above $301 million. This jump comes as trading volume hit $22.1 million, reflecting renewed interest in security-focused blockchain platforms.
On the other hand, Form (FORM) is showing a decline of 4.3% over the past 24 hours and is now trading at $0.00009499. Despite this short-term rise, the token is down 19.16% over the past week, signaling mixed sentiment.
Just a Chill Guy (CHILLGUY) has rallied 3% in 24 hours to $0.05186. With weekly gains of nearly 46.5%, it stands out as a high-flyer in the novelty coin space.
Institutional Moves and ETF News
Strategy continues its Bitcoin buying spree, adding 1,895 BTC at an average price of $95,167. This purchase totaled $180.3 million and signals the firm’s unwavering belief in Bitcoin’s long-term value. Meanwhile, VanEck has filed for the first U.S.-based BNB ETF, a move that could open doors for broader exposure to Binance’s native token.
