The crypto market is experiencing "a volatility migration" to fringe tokens, such as Livepeer and Yield Guild Games, according to one analyst.

"A volatility migration is afoot as majors stagnate or slide lower, while lesser-known altcoins such as Livepeer (LPT) and Yield Guild Games (YGG) have successive days of geometric gains and, in the case of YGG, a spectacular over 75% sell off in just hours," said Gordon Grant, head of trading and sales at Genesis Trading.

"It appears the liquidity generated from the surge in large-cap tokens in 2023 is now flowing into fringe markets with explosive impact," Grant added.

Livepeer, the native token of a decentralized video streaming platform, saw its price rise 33.9% in the past week, before dropping 3% in the past day to $5.35. Yield Guild …