After losing hundreds of billions of value in just a matter of days, altcoins have finally posted gains over the last 24 hours, led by top projects including VeChain (VET) and Nano (NANO).

The AltDex 100 Index (ALT100), a benchmark index for the industry’s leading cryptocurrencies and tokens, is up 7.2% over the last day and currently sits at 76.02. To give some perspective to just how big of a drop the market has seen, the ALT100 was over 112 just two weeks ago.

Despite little change in the fundamentals, VeChain and Nano are currently up 25.5% and 23.8%, respectively. Other ALT100 gainers include Basic Attention Token (+21%) and ZCoin (+16.7%).

Other cryptocurrency categories have also posted gains over the last 24 hours. The AltDex Exchange Token Index (ALTEXC), a benchmark index for the industry’s leading exchange tokens, is up 9.8% while the AltDex Privacy Coin Index (ALTPRV), which tracks tokens focused on privacy or security, is up around 10%. The new AltDex Masternode Index (ALTMSN), a benchmark for major masternode cryptocurrencies, has also jumped over 8%.

Time will tell whether the latest bounce is nothing more than a dead-cat bounce, especially as the market technicals and fundamentals suggest more pain ahead.

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.