Mixed Altcoin Performance
Altcoin Market Sees Mixed Moves as Ethena USDe 24-Hour Volume Exceeds $29 Million
Anonymous
Key Points
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ETC has logged a 7-day change of 0% against the USD, signaling a flat week despite recent price moves.
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Ethereum Classic operates as a proof-of-work coin using the EtcHash hashing algorithm.
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Ethena USDe’s total supply is 4,037,630,323 tokens.
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EGL1 was first traded on June 3, 2025, and has a total supply of 1,000,000,000 tokens.
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NEM (XEM) has a total supply of 8,999,999,999 coins and was first traded on March 28, 2015.
Ethena USDe logged $29.54 million in 24-hour trading volume on July 23, holding its peg at exactly $1.00, according to Ticker Report. The stablecoin carries a market cap of $4.04 billion and a total supply of over 4 billion tokens, making it one of the larger stablecoins by circulation in the altcoin space.
The day's broader altcoin picture was a mixed bag. Gains and losses spread across a wide range of coins, with trading volumes swinging from a few hundred thousand dollars to tens of millions, reflecting a fragmented and uneven market.
Ethena USDe Holds Steady While Others Swing
Ethena USDe did exactly what a stablecoin is supposed to do — it stayed at $1.00. Its $29.54 million in daily volume was the highest in this group, according to Ticker Report. A stablecoin is a crypto token designed to keep a fixed price, usually pegged to the U.S. dollar. With 4,037,630,323 tokens in circulation, USDe is a significant player in that category.
While USDe stayed flat by design, other coins in the cohort moved in sharply different directions. That contrast highlights how stablecoins serve a different purpose than regular cryptocurrencies — they offer stability rather than price upside.
Ethereum Classic Posts Flat Week Despite Daily Tick Up
Ethereum Classic (ETC) rose 0.2% on July 23 to about $6.95, with a market cap of $1.10 billion and $27.8 million in daily trading, per Ticker Report. Despite that small daily gain, ETC logged a 0% change for the full week — a flat seven days that signals the coin is stuck in a holding pattern.
ETC runs on a proof-of-work system using the EtcHash algorithm. Proof-of-work means miners use computing power to verify transactions and earn rewards. It is the original Ethereum blockchain, which kept running after Ethereum itself switched to a different model in 2022.
EGL1 Drops 5% on the Day but Climbs 11% for the Week
EGL1 was the notable mover in this group, falling 5% on July 23 to trade near $0.0129, according to Ticker Report. Its market cap sits at $12.92 million, with $1.60 million in 24-hour volume. Despite the daily dip, EGL1 is up 11% over the past seven days — a sign that short-term sell-offs may not tell the full story.
EGL1 is a relatively new token. It first traded on June 3, 2025, and has a total supply of 1 billion tokens. Its combination of a weekly gain and a daily loss shows the kind of volatility that often comes with newer, smaller-cap coins.
NEM Surges Nearly 5% but Remains a Tiny Market
NEM (XEM) was the top daily gainer in the group, jumping 4.8% to around $0.0005, per Ticker Report. Still, the coin's market cap is just $4.07 million and only about $242,000 changed hands in 24 hours. That low volume means even small trades can push the price around significantly.
NEM has been around since March 28, 2015, making it one of the older projects in crypto. Its total supply is nearly 9 billion coins. Despite its age, the coin is down about 7% for the week, which offsets much of that single-day surge.
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