This week in the cryptocurrency market was marked by significant movements among various tokens. Aster (ASTER), DeXe (DEXE), and Story IP topped the gainers' list, while Fartcoin (FARTCOIN), SPX6900 (SPX), and Raydium (RAY) faced notable declines. The primary catalyst for these fluctuations was the Federal Reserve’s recent rate cut, which investors closely monitored.
On September 17th, the Federal Reserve initiated a 25 basis points (bps) cut, marking its first rate cut of 2025. Interestingly, despite the turbulence, Bitcoin (BTC) demonstrated resilience and held steady, while Ethereum (ETH) and select altcoins experienced short-term rallies. Investor sentiment remained cautious as the market reacted to the rate cut, yet the spotlight shone brightly on newly launched hype coins, which surged dramatically.
Aster (ASTER) emerged as the standout performer this week, with an extraordinary rally of over 1,500%. The token's launch coincided perfectly with the Federal Reserve's rate cut, capturing the attention of investors and driving significant capital into ASTER. It quickly reached $0.58, surging over 500% within hours. The market cap approached $1 billion, buoyed by endorsements from notable figures like Binance founder Changpeng Zhao (CZ). However, after hitting an all-time high of $2, ASTER saw a 20% pullback as early holders took profits. Despite this, the price remained 10% off its daily low, indicating ongoing buying pressure. A support level around $1.50 may emerge as a critical demand zone for future price movements.
DeXe (DEXE) secured the second spot among weekly gainers, posting a remarkable 67.17% increase from a baseline of $7. This marked its longest green weekly candle since February 2024, effectively breaking through a multi-month consolidation phase. Following a protracted downtrend, DEXE managed to break above the significant resistance level of $9.51, aided by buy-side pressure and its integration with TheOneTradeAI. Despite the overbought Relative Strength Index (RSI), if the support zone around $9.50–$9.60 holds, there is potential for continued upward momentum.
Story IP rounded out the top three weekly winners with a solid 27% gain, bringing its price to $12.45. Unlike many other altcoins, Story IP has consistently posted weekly gains, reinforcing its bullish momentum. Technically, it has broken above key resistance levels, with the next target around $14. The past month has seen a series of higher-high closes, indicating strong buyer activity. With a volume increase of 12% to $290 million, the potential for further upward movement remains strong.
Outside the major players, several altcoins made headlines with impressive surges. APX led the pack with a staggering 1,413% increase, followed by CreditLink Token (CDL) at 299%, and Hypurr Fun (HFUN), which rose by 180%.
Fartcoin (FARTCOIN) was the biggest loser this week, dropping 12.45% to $0.87. Since its peak of $1.69 in late July, Fartcoin has been entrenched in a downtrend, struggling to gain traction even as the broader meme coin market has shown signs of life. The $1 resistance level remains a significant barrier, with the token failing to breach it on multiple occasions. If the bearish trend continues, FARTCOIN may revisit lower support zones around $0.80–$0.82.
SPX6900 (SPX) followed as the second-largest loser, down 10.46% to $1.20. The token has struggled to maintain momentum, remaining trapped below the $2 resistance level. After a brief bounce, SPX failed to sustain its gains, resulting in a mid-week dip and subsequent volatility. Without aggressive buying pressure, a retest of the support level around $1.10 seems likely.
Raydium (RAY) closed out the weekly losers with an 8.10% decline, finishing at $3.11. The token has printed four consecutive lower weekly lows, maintaining a bearish structure. After a brief rally, RAY broke back into previous support levels, suggesting it may test lower support unless buying momentum shifts.
This week in the cryptocurrency market was a whirlwind of activity, characterized by significant gains for some tokens and sharp declines for others. The interplay between hype coins and established cryptocurrencies highlights the need for investors to remain vigilant. As always, conduct thorough research and trade wisely to navigate this volatile landscape.
