Altcoin Market Shows First Signs of Life as Canton, Ethena and Ondo Lead a Cautious Recovery - Coinedict

The crypto market is beginning to show subtle signs of stabilization, with a handful of mid-cap tokens turning green even as overall sentiment remains firmly risk-off.

The Fear and Greed Index sits at 24, still within the fear zone but notably above last week’s extreme lows — signaling that panic is easing and selective buyers are quietly returning.

Bitcoin is trading near $90,000, up roughly 1% in the past 24 hours, helping to relieve some of the selling pressure that defined recent sessions.

While major altcoins remain largely muted, Canton (CC), Ethena (ENA), and Ondo (ONDO) have emerged as today’s standout performers.

Canton (CC) Jumps 19% as Network Interest Rebuilds

Canton is trading around $0.074, marking a strong 19% daily gain.

Improving liquidity and more even order flow across exchanges suggest traders are re-engaging with the token after a period of quiet consolidation.
Its enterprise-focused settlement and coordination network continues to draw steady on-chain activity, providing the foundation for today’s upward move.

Market structure shows a shift from low-volume drifting to a more stable, constructive pattern.

Ethena (ENA) Rises 11% as Synthetic Dollar Mechanism Stabilizes

Ethena’s ENA token has climbed to $0.28, an 11% increase over 24 hours.

Recent data shows a healthier balance between funding rates and open interest, indicating its synthetic dollar infrastructure is running more smoothly compared to the volatile swings seen in recent weeks.

Accumulation is spreading across multiple spot venues, positioning ENA as a preferred choice for traders seeking yield-aligned tokens without taking on heavy risk.

Ondo (ONDO) Gains 8% With Strong Demand for Tokenized Treasuries

ONDO is trading near $0.48, up about 8%, supported by growing interest in tokenized treasury products.

Capital continues to flow toward real-world-asset (RWA) protocols that bridge traditional markets with crypto-native infrastructure. Liquidity on ONDO pairs remains firm, with trading volume rising above levels seen earlier this month.

Its steady performance keeps ONDO on trader rotation lists whenever macro stress begins to cool.

A Cautious Market, But No Longer Suffocating

There is still no broad altcoin season — far from it.

However, the move from extreme fear to moderate fear is easing forced selling and giving room for selective rotation. Bitcoin holding above $90,000 has prevented deeper liquidity shocks, allowing mid-caps with active ecosystems to rebound first.

The gains in Canton, Ethena, and Ondo illustrate where capital is returning:
projects with real usage, stable activity, and visible user bases.

The broader environment remains defensive, but today’s signals show the market has shifted away from last week’s high-stress, liquidity-drain conditions and into a more balanced — if still cautious — phase.