Crypto
Bitcoin Recovers Toward $78,000 Amid Altcoin Rally
Bitcoin's price recovered some of its losses from Wednesday's sell-off to trade around $77,890 on Thursday morning. The cryptocurrency is still down 2.89% over the past week.
The altcoin season index stands at 35/100, with many alternative coins seeing gains. Arbitrum ($ARB) and Lighter DEX's $LIT token are among the top performers, with their spot prices reaching record highs. However, unlike Arbitrum, there is little participation in futures for Lighter DEX's token.
Pons (PONS) led the altcoin market on Thursday, climbing 30.85% over 24 hours to $0.50. Its launchpad generates significant revenue through buying back and burning its own token, a more direct value accrual mechanism than most other tokens in the space.