Top Trending Crypto Coins on DEXTools

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Recent reports of inflation have sent investors and traders on a quest for secure investment options, and the cryptocurrency market has emerged as an irresistible choice. However, this newfound interest comes with a dose of uncertainty because of the new wave of volatility.

In this landscape, the cryptocurrency market displayed on DEXTools offers a diverse array of trending digital assets that have proven their resilience over time. These established cryptocurrencies have weathered the storms of the crypto market, earning the trust of investors. Investors will be looking out for top trending coins for their financial safety.

Yet, the crypto world is in a constant state of flux, with new cryptocurrencies cropping up almost hourly. This proliferation presents both promise and peril for investors. Some of these novel assets can offer a lifeline to those who may have endured losses in prior ventures.

The beginning of the week has been marked by heightened volatility in financial markets, ignited by the Hamas attack on Israel over the weekend, resulting in a violent conflict that has claimed the lives of hundreds so far.

Adding to the market’s unease, the previous week witnessed a significant bond market sell-off and turbulence in currency markets, setting a nervous tone ahead of the release of U.S. inflation figures and the commencement of earnings season.

Against this backdrop, policymakers attending the annual meeting of the World Bank and International Monetary Fund have plenty of pressing issues to discuss and address. Additionally, in the realm of British politics, the opposition Labour Party, vying for governmental power, is poised to outline its agenda in preparation for the upcoming election scheduled for next year.

1. Wrapped BTC (wBTC)

Wrapped Bitcoin, with the ticker wBTC, is a cryptocurrency token designed to mirror the value of Bitcoin (BTC). This digital asset operates within the Ethereum (ETH) blockchain as an ERC-20 token, opening the doors for Bitcoin holders to engage with decentralized finance applications and platforms nestled within the Ethereum ecosystem. The strong bond built with Bitcoin always puts wBTC out as a top trending cryptocurrency.

The process of “wrapping” Bitcoin involves securing BTC tokens and generating an equivalent amount of wBTC tokens on the Ethereum blockchain. These wBTC tokens are fully collateralized at a 1:1 ratio by BTC assets held within a custodial account. This mechanism empowers users to harness the potential of Bitcoin within the Ethereum network, allowing them to partake in DeFi activities and take advantage of the adaptability and versatility offered by the Ethereum ecosystem.

The WBTC Big DAO has completed this recovery project!

36 individual addresses have been refunded the WBTC they mistakenly sent to the token contract over the last several years.https://t.co/H3cXM4EliL https://t.co/4oJwbrO5EW

— WBTC (@WrappedBTC) October 5, 2023

wBTC plays a pivotal role in fostering interoperability and liquidity between the Bitcoin and Ethereum blockchains. Bitcoin holders can securely lock their BTC holdings and mint wBTC, subsequently utilizing it across a spectrum of DeFi protocols encompassing lending, borrowing, trading, and liquidity provision. A network of custodians and merchants collaboratively maintains the parity of wBTC with Bitcoin, ensuring its value remains in alignment. Additionally, regular audits and transparency measures are enacted to verify the collateralization, reinforcing users’ trust in wBTC.

2. Shiba (SHIBA)

The Age Consumed metric is used to pinpoint local market bottoms. This metric is calculated by multiplying the number of tokens that have changed addresses on a specific date by the time since their last movement.

Typically, when the Age Consumed metric experiences a notable increase, it indicates that a substantial number of previously dormant tokens have suddenly begun changing hands. This suggests a significant and rapid shift in the behavior of long-term holders, often signaling a change in market dynamics. Conversely, a decrease in the Age Consumed metric implies that long-held coins remain static in their wallet addresses, indicating a lack of trading activity.

This metric serves as a valuable tool for identifying asset bottoms because long-term holders typically need to move their dormant assets swiftly. Consequently, when such movements occur, they tend to result in significant changes in market conditions.

As per data from Santiment, SHIB‘s Age Consumed reached 200.78 trillion on October 5, marking its highest daily value in the past month. On that day, the altcoin closed at a price of $0.0000071 and has since experienced a slight increase. It effectively became one of the most trending cryptocurrencies.

At the time of writing, SHIB was trading at $0.000007252, reflecting a 2% price growth since October 5.

Another on-chain metric that signaled SHIB’s price bottom on October 5 is its Network Profit and Loss (NPL) metric. This metric assesses the average profit or loss of all coins changing addresses on a daily basis, helping identify periods of profit-taking or holder capitulation within the blockchain.

When an asset’s NPL experiences a decline, it signifies a short-term capitulation of “weak hands” and the re-entry of “smart money.” This often precedes a price surge as this new group of traders and investors accumulates the coin.

https://twitter.com/RebirthOfShiba/status/1711297173982228979?s=20

This scenario played out with SHIB on October 5. According to Santiment data, SHIB’s NPL dropped to -1.2 million on that day, after which the altcoin’s price began to climb.

Among spot traders, SHIB has seen more daily distribution than accumulation. Currently, key momentum indicators are positioned below their respective neutral lines. For instance, the coin’s Relative Strength Index (RSI) stands at 43.70, while its Money Flow Index (MFI) is at 37.28.

3. Calcium (CAL)

Calcium (CAL) is a cryptocurrency that functions within the Ethereum ecosystem. Presently, Calcium boasts a total supply of 420.69 million tokens, with none currently in circulation. Notably, Calcium is actively traded on 14 different markets, with a trading volume totaling $1.70 million over the same 24-hour period.

Although the CAL price has declined in the last hour, it has gained more than 11% in the previous 30 hours. The market is still bullish about the token, especially with its stellar performance from last week. CAL, like most of the market, is a victim of the current market situation but has sufficient strength to be a trending cryptocurrency at any time.

Bulls are expected to hold faith with one of the few consistent market performers till it surges again.

One of the strongest communities in crypto was born by accident and in the deepest parts of a bear market. pic.twitter.com/qVBtrhj7P5

— Calcium | $CAL (@CalciumERC) October 8, 2023

What Might Be The Next Top Trending Crypto?

Investors are captivated by the promising long-term potential of the TGC token, driven by its innovative deflationary feature within the revenue-sharing casino model. This could pave the way for substantial returns, potentially reaching 100 times the initial investment for early adopters.

At the heart of this innovation is TG.Casino, acclaimed as the leading Telegram-based crypto casino globally. It seamlessly blends the robust security, speed, and extensive user base of Telegram to create a seamless and immersive gaming experience for cryptocurrency enthusiasts.

What sets this project apart is its clever incorporation of two of the hottest trends in the crypto world today: Telegram Bots and revenue-sharing. The revenue-sharing model it employs has the potential to disrupt the conventional casino reward structure, transforming all TGC token holders into casino owners by simply holding the token.

The groundbreaking revenue-distribution model is poised to redefine the landscape for online casinos, positioning investors as significant beneficiaries of the gaming industry’s profits. The concept revolves around utilizing a portion of the casino’s earnings to repurchase tokens for redistribution and eventual burning.

Temptation is never far away. pic.twitter.com/VqHyZ3TGIB

— TG Casino (@TGCasino_) October 9, 2023

This approach not only generates a passive income for all TGC holders but also reduces the overall token supply, thereby enhancing its intrinsic value. The buyback of tokens from the open market injects substantial demand into the TGC token, fostering its appreciation.

Upon repurchasing TGC tokens from the open market using casino profits, 40% of the acquired tokens are directed to a burner address, introducing a deflationary element to the ecosystem. The remaining 60% is distributed to all token holders participating in the staking process, creating a steady stream of passive income.

TG.Casino prides itself on its polished platform, featuring integration with significant gaming providers such as NetEnt and Evolution, allowing it to compete on equal footing with established online casino giants.

One of its distinguishing features is the complete operation of the casino within the Telegram environment. Users are spared the hassle of undergoing a KYC process, as their Telegram account serves as the verification mechanism. This streamlined approach facilitates instant web3 deposits and withdrawals, with a cryptocurrency wallet generated upon logging into the casino.

Moreover, the casino boasts full licensing credentials obtained from the reputable Curacao Gaming licensing entity, assuring users of a secure and regulated gaming environment.

Visit TG.Casino.

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