On the 20th, Bitcoin (BTC) and Ethereum (ETH) rose slightly in the cryptocurrency market, while Ripple (XRP) and Solana (SOL) posted relatively higher gains. Rather than a broad rally across the market, buying interest was concentrated in select coins and decentralized finance (DeFi)-related assets.

Major Coins Rise Modestly

Over the past 24 hours, Solana gained 1.3% and Ripple (XRP) rose 1.2%. Bitcoin and Ethereum also continued their upward trend, though their gains were relatively limited. Across the market, more coins rose than fell, but the disparity in price movements among assets was clear. Rising coins outnumbered falling ones 28 to 18.

The Fear and Greed Index, a gauge of market sentiment, rose by only 1 point from the previous reading. This suggests that despite the price increases, investor sentiment has not shifted sharply toward optimism.

DeFi Coins Strengthen... Osmosis Soars 30.8%

Among individual coins, Osmosis (OSMO) stood out with its sharp gain. OSMO surged 30.8% over 24 hours, with trading volume of about $5.6 million during the same period. This is a relatively high gain even among DeFi-related coins.

Amp (AMP) also rose 19.6%, with 24-hour trading volume of about $8.9 million. With OSMO and AMP posting consecutive double-digit gains, attention is turning to the future movements of DeFi-related coins.

Arbitrum Up 7.7%... Token Unlock Schedule a Variable

Arbitrum (ARB) rose 7.7%, with 24-hour trading volume of about $16.4 million. Arbitrum is a Layer 2 network supporting Ethereum scalability, and its upcoming token unlock schedule is cited as a notable variable. The scheduled unlock amounts to 92.65 million ARB, or about 1.56% of the circulating supply.

Token unlocks can affect the amount available for trading in the market. However, since the entire unlocked supply is not necessarily sold immediately, the actual impact on price may vary depending on whether holders sell and on market liquidity.

Infrastructure Sector Down 0.8%... Pyth Network Weak 6.6%

Not all cryptocurrency sectors rose. Among tracked sectors, the infrastructure sector fell 0.8%, underperforming relatively. Within the sector, Pyth Network (PYTH) declined 6.6%, emerging as a major weak spot.

Large Holders Add 4,045 BTC and 12,535 ETH

Buying moves by large cryptocurrency holders were also confirmed. One corporate buyer reported acquiring an additional 4,045 Bitcoin, while another large holder was found to have purchased an additional 12,535 Ethereum. Such purchases draw attention as they indicate an expansion in holdings of major cryptocurrencies. However, it cannot be concluded that asset acquisitions by individual corporations and large holders will immediately lead to broader market buying or price increases.

Three Points to Watch Ahead

The key point to watch in the market on the 20th is whether gains spread across more coins. If the current 28-to-18 ratio of rising to falling coins improves, it will show whether the upward trend is expanding across the broader market. Conversely, if the number of rising coins decreases, it will be necessary to watch whether the movement remains concentrated in certain assets.

Whether DeFi coins sustain their strength is also of interest. Given that OSMO and AMP have risen sharply in a short period, their subsequent trading volume and price movements should be monitored together. For Arbitrum, trading volume and price fluctuations are key observation points as the token unlock schedule approaches.

The cryptocurrency market currently shows a combination of modest gains in Bitcoin and Ethereum, relative strength in Ripple (XRP) and Solana, and sharp rallies in select DeFi coins. However, weakness in the infrastructure sector is also evident, making it difficult to say the entire market is moving in the same direction.

[This article is a market trend analysis based on the market figures provided and does not constitute investment advice or a buy/sell recommendation for any specific cryptocurrency. Prices, trading volumes, and market sentiment indicators may vary depending on the time of aggregation and the exchange. Cryptocurrencies are highly volatile, so a cautious approach is needed for investment decisions. AI assisted in part with this article.]