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In the last 24 hours, the cryptocurrency market saw $407.89B in trades. Traders were overall Bullish. This is shown by a Fear & Greed Index reading of 83 (Extreme Greed). Among cryptocurrencies today, 60% gained value, while 40% experienced losses. GLM emerged as today’s top gainer, with Golem prices soaring by 74.28%, whereas Orbler saw the most significant drop, experiencing a 7.93% decrease in price.
Four notable coins, Bitcoin SV, Cronos, OKB, and MultiversX, have been selected among the top gainers in today’s market. These tokens stood out for their impressive projects, innovation, and price movement. Get set to get valuable insights into the unique features of our top gainers for wise investment decisions.
Biggest Crypto Gainers Today – Top List
“Boldness breeds fortune,” and boldness with distinctiveness are the best words to describe our top gainers today. Born from a hard fork, Bitcoin SV aims to fulfill Satoshi Nakamoto’s vision, boasting scalability and milestone achievements. Cronos serves Crypto.com, offering utility with steady growth. OKB powers OKEx, providing discounts and governance rights. MultiversX promises lightning-fast transactions, showing potential for the Internet economy. Each coin’s innovation drives blockchain progress, leading to it having a spot among the top gainers for today. Come for a deep analysis of the story around each project.
1. Bitcoin SV (BSV)
Bitcoin SV emerged from a 2018 hard fork of the Bitcoin Cash blockchain. The aim was to fulfill the original Bitcoin vision, as Satoshi Nakamoto described. It prioritizes scalability and stability, removing block size limits and enabling advanced features like tokens and smart contracts, positioning itself as an enterprise-level blockchain.
BSV’s uniqueness lies in its adherence to the original Bitcoin protocol and focus on realizing Bitcoin’s initial vision. This top gainer has no limit on block sizes, claiming to scale without end and handle any demand from apps or payment networks. It does this without relying on second-layer solutions. Also, it has achieved notable milestones, including mining gigabyte-level blocks and demonstrating a potential capacity to handle up to 1,000,000 transactions per second.
📣 @jynocity, BSV Ambassador & @Domineumng CEO, signed an MOU with the @NigeriaGov, represented by @FMSTNg, partnering with Edenbase UK for Abuja Tech City's development.https://t.co/xoa9at5fyj#BSVAmbassador pic.twitter.com/Ox0rOt4AZN
— BSV Blockchain (@BSVBlockchain) March 3, 2024
From analysis, it has shown significant growth in performance, with a 203% increase in price over the past year. It has outperformed 75% of the top 100 crypto assets and done the same to Bitcoin and Ethereum during the same period. Currently trading significantly above the 200-day SMA, BSV’s 14-day RSI indicates neutrality. With a price increase of 22.31% in the last 24 hours, it is currently worth $ 117.32. Despite this growth, its market dominance remains relatively low at 0.10%.
2. Cronos (CRO)
Cronos is the native cryptocurrency token powering Cronos Chain, a decentralized blockchain developed by Crypto.com. It aims to accelerate global cryptocurrency adoption through Crypto.com’s payment, trading, and financial services. The CRO blockchain primarily serves as the backbone for Crypto.com Pay, with plans to expand its utility across other Crypto.com products.
It distinguishes itself by offering utility primarily within Crypto.com’s ecosystem. CRO holders can stake their coins to earn rewards and settle transaction fees. Additionally, users can receive cashback and token rewards for various activities within the Crypto.com App. This focus on utility within a specific ecosystem sets Cronos apart from other cryptocurrencies.
Also, it has seen significant growth, with a 99% increase in price over the past year. However, it has underperformed both Bitcoin and Ethereum during the same period. While trading well above the 200-day SMA, the 14-day RSI indicates that the coin is overbought, suggesting a potential downturn. Despite its medium liquidity, Cronos has a relatively low market dominance at 0.16%.
We are gearing up to launch #Cronos zkEVM as a zero-knowledge layer 2 blockchain on top of Ethereum mainnet. Today we are pleased to release version 1.0 of the litepaper.
⏩️ Scalability and modular data availability
💧 Shared liquidity among hyperchains
💰 Yield bearing… pic.twitter.com/MjGifwHh5u
— Cronos (@cronos_chain) February 22, 2024
The latest development for Cronos is the release of the Cronos zkEVM lightpaper, introducing a Zero-Knowledge Layer 2 blockchain designed to address DeFi challenges. The zkEVM testnet is set to launch soon, with the mainnet scheduled for June 2024. The initiative aims to speed up transactions, cut costs, and shift liquidity to decentralized platforms. This shows Crypto.com’s ongoing commitment to innovation in cryptocurrency.
3. Sponge V2 (SPONGE)
SPONGE coin has risen to prominence in the cryptocurrency market, exhibiting remarkable growth with its original version. Building on this success, SPONGE V2 now emerges, presenting a total token supply of 40.4 billion tokens and an array of rewards over four years. These rewards include incentives for staking, marketing funds, and support for a Play-to-Earn game, setting the stage for a significant evolution in the meme coin market.
One of the standout features of SPONGE V2 is its innovative transaction fee mechanism, which redistributes a portion of each transaction to token holders. This mechanism incentivizes holding SPONGE tokens, fosters community engagement, and rewards early adopters. Additionally, it introduces the Stake-to-Bridge model, facilitating a seamless transition for V1 holders to V2 while offering the potential for staking rewards.
When you're around people who don't own any $SPONGE 🧽#Sponge #Crypto #Alts #Airdrop pic.twitter.com/OuMeaZeICh
— $SPONGE (@spongeoneth) March 3, 2024
SPONGE V2 has promising potential for its ecosystem. It can be used in governance, facilitating DeFi transactions, and powering dApps. Furthermore, its tokenomics are structured to promote long-term engagement and sustainability. Staking rewards make up much of the token supply. The supply also goes to bridging, marketing, and development, ensuring the ecosystem’s vitality and utility. SPONGE V2’s emergence signifies a new chapter in the meme coin market, offering lucrative opportunities for investors and enthusiasts alike.
4. OKB (OKB)
OKB is a cryptocurrency launched by the OK Blockchain Foundation and the renowned crypto exchange OKEx. OKEx, ranked among the world’s largest exchanges, provides a wide array of trading pairs and features, distinguishing itself with services like cloud mining and options trading.
The uniqueness of OKB lies in its utility within the OKEx ecosystem. It offers users discounts on transactions, governance rights, and rewards for holding the token. Furthermore, OKB is integral to OKEx’s Jumpstart platform and facilitates trading on OKExChain, enhancing scalability and security.
Performance-wise, OKB has seen modest growth of 17% over the past year, outperforming only 22% of the top 100 crypto assets. It has underperformed both Bitcoin and Ethereum during this period. While trading above the 200-day SMA, its 14-day RSI indicates neutrality, and its market dominance remains relatively low at 0.15%.
What makes #OKXWallet the most popular multi-chain wallet for #Bitcoin ordinals?
🟧 Batch listing of ordinal inscriptions
🟧 Transaction fee setting
🟧 UTXO management
🟧 Zero service feesGet started: https://t.co/JhUy9ugCHE pic.twitter.com/Y6zOMmGlcw
— OKX (@okx) March 2, 2024
In the last 24 hours, it has increased by 9.74%, arriving at $ 58.15. Despite its neutral RSI, OKB has experienced a positive trend of 17 days of the last 30 trading days. Additionally, its 30-day volatility is low, suggesting stability. However, its liquidity is rated as medium, indicating potential limitations in volume relative to market cap.
5. MultiversX (EGLD)
MultiversX is a blockchain protocol designed to deliver lightning-fast transaction speeds through sharding technology. Positioned as an ecosystem for the new Internet, it encompasses fintech, decentralized finance, and the Internet of Things. Its architecture promises 15,000 transactions per second, six-second latency, and minimal transaction costs.
EGLD serves as MultiversX’s native token, facilitating network usage payments and as a medium of exchange between users and validators. Additionally, it enables smart contract deployment and protocol execution on the platform while also functioning as a governance token. MultiversX employs state, transaction, and network sharding with an adaptive state-sharding architecture to achieve scalability and throughput.
It has demonstrated a 61% increase in price over the past year, surpassing 45% of the top 100 crypto assets in terms of performance. While it has outperformed Ethereum, it has lagged behind Bitcoin’s performance. Currently trading at $70.01, MultiversX is 84.55% above the 200-day SMA of $37.79. The 14-day RSI stands at 60.87, signalling neutrality and the potential for sideways movement.
In the last 24 hours, EGLD experienced an 8.12% surge, with the majority of the previous 30 trading days being positive, at 50%. Despite its high liquidity and volume-to-market cap ratio of 0.1479, MultiversX’s market dominance remains relatively low at 0.07%.
The @xExchangeApp V3 is LIVE on Testnet!
Bringing a 1-click trading, farming & swapping approach to remove entry barriers for new users and simplify operations for existing ones.
Test it out: https://t.co/QVGvUtjLVf
Overview of upgrades & improvements: https://t.co/NakeRUQyDp https://t.co/7cUPDrfMFx— MultiversX (@MultiversX) March 1, 2024
Now that we have done justice to the analysis of each of the selected top gainers for the day let us move to the latest development in the market trend. The cryptocurrency industry was heavily involved in the 2024 U.S. election, which sparked intrigue. Millions were spent backing candidates friendly to crypto, even amid a market resurgence and regulatory scrutiny.
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