Loom Network, Ontology, Simon’s Cat lead as Bitcoin stalls

Simon’s Cat (CAT) was the other top-performing token, surging to a record high of The other top-performing cryptocurrencies were ARK, which rose by 23%; Powerledger, and Theta Fuel, which rose by 20% and 8%, respectively.
Bitcoin (BTC) retreated to ,000 from this week’s high of ,000 while the total market cap of all coins remained at .2 trillion.

Loom Network led gains as open interest rose

Loom Network (LOOM), recently delisted from Binance, was one of the best-performing altcoins as it jumped to Loom soared as its 24-hour volume jumped to over 4 million, higher than its market cap of million. Its open interest in the futures market jumped to over million, its highest level since March 27, and higher than this month’s low of .7 million.
Other risk assets wavered, with the Dow Jones rising by 27 points and the S&P 500 and Nasdaq 100 indices falling by 0.25% and 0.29%, respectively. As we wrote on Friday, this price action was likely because of the triple-witching event, where options worth over .1 trillion expired.

Simon’s Cat price and volume | Source: Nansen

Cryptocurrencies held steady on Saturday as the recent momentum among risky assets waned.

Ontology Gas (ONG) was also one of the top tokens on Saturday. It soared for five consecutive days, reaching its July high of Mother Iggy, Neiro on ETH, Billy, and Cat In A Dogs World were the most notable laggards.
Fundamentally, Ontology’s ecosystem has not done well in the past few years as the total value locked in its DeFi ecosystem has dropped to .1 million from a record high of 4 million in 2021.