Cryptocurrency markets lost momentum Thursday as bitcoin and major altcoins slipped, while a handful of niche tokens—most notably Decred—rallied.
Market snapshot
- Bitcoin traded just under $68,000 (about $67,963), off roughly 2% on the day after failing to sustain a rebound to $70,000 earlier in the week, CoinDesk data show. Ether, XRP, Solana and the CoinDesk 20 Index posted similar modest declines.
- Caution remains elevated: traders continued to buy downside protection in bitcoin. Deribit reported that ETF holders and corporate treasuries are purchasing put options at the $60,000 strike with expiries in six to 12 months.
Decred leads the pack
Decred (DCR), a governance-focused token designed for on-chain autonomy, bucked the broader weakness. DCR jumped about 16% in 24 hours to $34.58—its highest level since November—and is the top-performing coin among the top 100 over the past four weeks. The project’s February 8th change to its treasury rules appears to be a major catalyst: DCR has climbed more than 80% since that adjustment, CoinDesk data show.
Institutional flows still tentative
Analysts say institutional involvement is improving but not yet decisive, advising caution. “Long-term investors may consider staggered accumulation (SIP-style allocation) near support zones rather than deploying lump sums at resistance,” Vikram Subburaj, CEO of crypto exchange Giottus.com, told CoinDesk via email.
Internet Computer and the AI lift
The DFINITY Foundation proposed a revenue model tweak for Internet Computer (ICP) that would burn 20% of cloud engine revenue—introducing a direct deflationary mechanism tied to network usage—while routing the remaining 80% to node operators. The change would replace fixed emissions with performance-based incentives intended to make token supply more responsive to real demand.
ICP traded up roughly 6% in the past 24 hours, from about $2.41 to $2.56, after briefly hitting $2.70 during the session. The move appears driven by a mix of the foundation’s proposal and a broader surge in sentiment for AI-linked crypto assets following Nvidia’s blowout earnings. Nvidia CEO Jensen Huang remarked that AI “is only getting better,” boosting interest in projects positioning themselves as decentralized cloud or AI infrastructure. Alongside ICP, tokens such as Render (RENDER) and Bittensor (TAO) have benefited from renewed investor attention in the sector.
Bottom line
Markets remain in a cautious phase: broad-based weakness in top tokens contrasts with targeted rallies in governance and AI-linked names. Traders are hedging with longer-dated put options while analysts urge measured, staggered buying rather than large, concentrated allocations.
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