The cryptocurrency market saw a slight bump on the night of April Fool's Day

Despite an earlier broader market crash, altcoins dominated the day's gains

The cryptocurrency market saw a slight bump on the night of April Fool’s Day, and while Bitcoin and other major coins were also up, other altcoins dominated the day’s gains despite an earlier broader market crash.

As per data from CoinGecko, BTC climbed nearly 2% in the last 24 hours, while Ethereum (ETH) surged 2.3%, Cardano (ADA) increased 0.8%, and XRP was up 0.3% in the day.

$BTC, Major Altcoins Outpaced on April Fool's Day

Among Tuesday’s biggest gainers were TITCOIN, a meme token that claims to celebrate “female empowerment and the diversity of women's bodies and shapes." The coin was up 91% in the last 24 hours, taking the second spot on CoinGecko's Top Gainers ranks.

In third place was Binance-Peg EOS (EOS), with a 31.7% spike, and EOS took the fourth spot with a 31.5% increase. Al token Alchemist AI (ALCH) completed the Top 5, after gaining 20.7%.

Top 5 Crypto Gainers (24h) - April 4, 2024

SURE/USD 214.50%

TITCOIN/BTC 90.95%

BNB Chain (BEOS) 31.7%

EOS 31.5%

ALCH/USD 20.71%

First place went to inSure DeFi (SURE), a token that focuses on "decentralized insurance," an emerging DeFi segment that raised discussions on whether people are ready for such an innovation or not. The rising altcoin surged by a staggering 214.5% overnight, and other gainers were not even close to the digital coin's sudden spike.

Earlier in the day, multiple altcoins and meme coins saw a sharp drop as the crypto market experienced a major sell-off. Despite the broader downturn, the day's gainers proved that it's still possible for some coins to bounce during a market-wide crash.

Why Did Some Crypto Coins Crash?

Various factors affect a crypto market downturn, but on April Fool's Day, it appears some digital coins were affected by the "jokes" within the community.

Rising Web3 researcher Pix noted how some of the April Fool's jokes Tuesday were "just jokes," but others "caused millions in liquidations," including a "Juicebox x Paradigm" announcement that resulted in a "pump and dump" in the Juicebox (JBX) token's pelasivas.

Crypto users have since shared their thoughts on April Fool's jokes within the crypto space, with some saying they've learned to "stay away from trading announcements" whenever April 1 hits.

One user raised the issue on some of the jokes being "straight criminal," and another said some crypto jokes start from "harmless laughs to market-crashing chaos.

Another user noted how some April Fool's jokes in crypto "almost always backfire," seemingly referring to incidents in the past wherein crypto firms posted big announcements on April 1 to join the trend, only to see their tokens plunging amid backlash.