Caution Persists in the Crypto Market, but Altcoins Show Signs of Life
The cryptocurrency market is still navigating a cautious tone, but there are indications of a slight improvement. The Fear and Greed Index, currently standing near 24, suggests that while sentiment remains in fear territory, there is a noticeable progression from the lower lows observed last week.
Bitcoin, the flagship cryptocurrency, is trading at approximately $90,000, marking a 1% increase over the past 24 hours. This upward movement has alleviated some of the pressure that characterized recent sessions, offering a glimmer of hope for investors.
While large-cap companies remain relatively quiet, several mid-cap companies are experiencing notable increases. Canton, Ethena, and Ondo are characterized by steady gains, reflecting a market where traders are being selective while avoiding extensive risks. Although these movements do not signify a broad altcoin season, they indicate where participation is likely to resume as the market transitions from extreme stress to controlled caution.
Canton Sees Renewed Interest in Network Activity
Canton (CC) is trading at around $0.074, representing a 19% increase over the past 24 hours. The improvement in liquidity on major trading venues and a more balanced order flow compared to earlier in the week are notable.
Privacy should be the basis. No system update.
— Canton Network (@CantonNetwork) December 6, 2025
The ongoing on-chain activity related to its coordination and settlement functions continues to attract users engaged in enterprise-focused experiments, which appears to be supporting the current price increase. The price structure suggests a transition from calm trading to a more stable uptrend.
Bitcoin price (Source: CoinMarketCap)
Ethena Rises as Its Synthetic Dollar System Stabilizes
Ethena (ENA) is trading at approximately $0.28, marking an 11% increase over the past 24 hours. Recent data indicates a more consistent balance between funding costs and open interest, suggesting that the synthetic dollar system is operating without the uneven spikes seen in recent weeks.
Spot flows tend to accumulate and remain spread across multiple active venues. The token continues to serve as a reference point for yield-related designs during periods when the market favors moderate exposure.
Ondo Climbs on Ongoing Interest in Tokenized Yield
ONDO is trading near $0.48, up about 8% in 24 hours. Trading activity suggests continued interest in tokenized treasury products, supported by steady demand for yield connecting crypto infrastructure with traditional markets.
ONDO price (Source: CoinMarketCap)
Liquidity across major currency pairs remains stable, and turnover is now exceeding levels seen in recent sessions. This behavior keeps Ondo on rotation lists whenever market tension eases.
Altcoin Season Still Limited but No Longer Suffocated
While the altcoin season remains a distant prospect, the easing of extreme fear levels has reduced stress across the market. Bitcoin’s ability to maintain a price above $90,000 mitigates forced selling, providing the market with sufficient room for selective rotation.
The strength of Canton, Ethena, and Ondo demonstrates that capital is gradually returning to tokens with steady activity and a clear user base, even if most participants still prefer caution. The environment remains defensive for now, but the combination of a higher Fear and Greed reading and several emerging names suggests the market has transitioned from intense pressure to a calmer, more balanced phase.
For more information and the latest updates on the cryptocurrency market, visit https://cryptonews.com/news/altcoin-season-breathes-lightly-as-canton-ethena-and-ondo-rise-in-a-cautious-market/
