The crypto winter continued on Saturday, with Bitcoin and top altcoins remaining in a tight range. Still, some notable tokens like Siren (SIREN), StakeStone (STO), Pippin (PIPPIN), and Zebec Network (ZBCN) defied the weakness and rebounded.
Siren token jumped by 150% on Saturday, with the 24-hour volume hitting over $130 million level. Janction, which is backed by Jasmy, soared by 58% to $0.0038, with its daily volume hitting $61.5 million.
Pippin, StakeStone, and Zebec Network jumped by over 15% in the last 24 hours. On the other hand, some of the top laggards in the crypto industry were tokens like Resolv, Unibase, Babylon, Centrifuge, and edgeX.
There was no immediate catalyst for the ongoing surge in key tokens like Siren, Janction, StakeStone, and Zebec Network. As such, their ongoing rally is mostly because of the ongoing speculation among investors.
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There is a risk that these tokens will retreat in the coming days as geopolitical tensions rise and the Crypto Fear and Greed Index remains in the fear zone.
The main risk is that the Iran war will escalate next week as President Donald Trump’s ten-day ultimatum to Iran happens. Trump has warned that he will destroy Iran’s power plants and other infrastructure projects if the country fails to reopen the Strait of Hormuz.
Iran, on the other hand, has promised to retaliate by attacking similar projects in the Middle East, which will lead to higher crude oil prices. Brent ended last week at $110, while the West Texas Intermediate (WTI) rose to $112. This surge will likely continue in the coming week if the escalation accelerates.
At the same time, the US published strong non-farm payrolls data on Friday, with the economy adding 176k jobs. As such, there is a risk that the Federal Reserve will maintain a hawkish tone in the coming weeks.
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