Altcoins MNT, AVAX, ASTER Defy Market Downturn—Here’s Why

Market Overview - The crypto market has experienced a notable downturn over the past week, trading flat on the day, with only a few altcoins posting gains [1] Altcoin Performers - Ethereum layer-2 network Mantle has climbed 12.1% on the day, reaching a market cap of $5.9 billion, following a partnership with Bybit that offers better terms for institutional investors [2] - Avalanche has jumped 10.7% on the day and 12% over the past week, now at a market cap of $14.5 billion, influenced by a Bitcoin mining firm's rebranding and significant token purchases [3] - Aster, a new decentralized exchange on the Binance Smart Chain, has seen its ASTER token rise 7% in the past 24 hours, reaching a market cap of $2.8 billion, attributed to a spike in total value locked [5][6] - AI project NEAR and Cronos' CRO both increased by 4.2%, while Stellar's layer-1 network rose by 3.3% [6] Trading Volume and Market Activity - Avalanche recorded $4.29 billion in trading volume on Monday and $4.46 billion on Friday, marking the highest trading activity since December 2023 [4] - Aster's total value locked surged from $378 million to $1.46 billion, with claims of hitting $6 billion in perpetual trading volume on Monday [6] Bitcoin and Ethereum Status - Bitcoin and Ethereum are trading flat after a week that saw $1.6 billion in liquidations across the crypto market [7]