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At $69,280, Bitcoin’s current valuation signals a 2.73% drop in the past 24 hours, while its market cap sits at $1.37 trillion with a dominance level of 53.18%. This decline stems from a rollercoaster U.S. jobs report and a surprising rate cut by the European Central Bank (ECB).
Despite a surge in job creation, a 4% unemployment rate dragged Bitcoin’s value. The ECB’s unprecedented rate cut from 4% to 3.75% promises to stir up liquidity, potentially elevating Bitcoin’s allure among investors. Meanwhile, in the same 24-hour timeframe, the global crypto market cap took a 3.01% tumble, landing at $2.69 trillion.
Biggest Crypto Gainers Today – Top List
In line with the decline in activity in the global crypto market within the past 24 hours, reports reveal that only 7% of cryptocurrencies registered gains during this period. Among these, a select few tokens present promising investment opportunities. Tokens like Friend.tech, Filecoin, Sei, and Wormhole have emerged as top gainers. Friend.tech’s FRIEND token surged by 8.29% to $1.29, Filecoin rose by 6.80% to $6.34, Sei increased by 4.30% to $0.53378, and Wormhole recorded an impressive 10.23% surge to $0.746712.
1. Friend.tech (FRIEND)
Friend.tech is a social tokenization network where users buy and sell actions to access chats or preferred content. Soon after its launch, it gained over 100,000 users, including NBA player Grayson Allen and crypto influencers like Cobie and Gainzy.
Users link their Twitter accounts to create group chats as “creators,” with others joining by minting the creator’s keys. The chat setup allows only the creator to see all messages, while key holders see only the creator’s messages. The price of keys increases with new mints and decreases with redemptions.
Keys are traded against a bonding curve, incentivizing early participation. Users can mint multiple keys to speculate on future price increases. Each time a key is minted or redeemed, a 10% fee is split between the creator and the protocol.
Friend.tech uses embedded wallets powered by Privy for a seamless self-custodial experience. Unlike traditional wallets, embedded wallets install with the app, simplifying onboarding for new crypto users by skipping steps like downloading software and saving mnemonic phrases.
We're pleased to be working with @conduitxyz on Friendchain, our own blockchain that uses $FRIEND as a fully transferable gas token.
We'll keep you up-to-date with all the info you need over the coming months as we build out this exciting new chapter. pic.twitter.com/HRa26vfFEX
— friend.tech (@friendtech) June 8, 2024
FRIEND is now valued at $1.29, showing an 8.29% increase in the last 24 hours. However, it has experienced a significant 50.6% drop over the past 30 days. The 14-day RSI stands at 17.65, indicating the cryptocurrency is oversold and may soon rise. Over the past month, 12 green days have contributed to a 30-day volatility rate of 21%. It has a medium liquidity reflected in a volume-to-market cap ratio of 0.0117.
2. Filecoin (FIL)
Filecoin is a decentralized storage system that stores humanity’s most important information. It is an incentive layer for the Interplanetary File System (IPFS), where users pay for storage and distribution services using $FIL.
Filecoin’s blockchain records commitments made by participants, with transactions based on proof-of-replication and proof-of-spacetime. The open-source nature of Filecoin allows developers to create cloud storage services, while users can store their data or earn money by providing storage space.
Filecoin’s decentralized approach protects data integrity, making it easily retrievable and hard to censor. Unlike traditional cloud storage companies, Filecoin enables individuals to be data custodians. The network incentivizes honest behavior by rewarding participants with more block rewards for storing more data.
Clients, storage miners, and retrieval miners interact closely within the system, concluding transactions and exchanging information through FIL payments. This structure ensures a competitive and secure environment for data storage and retrieval.
Our goal is for Filecoin to become the preeminent platform for decentralized storage and data services.
A tall task, but Filecoin Foundation is focusing on seven key initiatives to help us get there:
1️⃣ Build user-friendly storage applications and developer tools: Storage… pic.twitter.com/VGp0feRJxV
— Filecoin Foundation (@FilFoundation) June 6, 2024
Currently, Filecoin is priced at $6.34, reflecting a 6.80% increase in the last 24 hours. Over the past year, the price has surged by 56%. Despite surpassing only 35% of the top 100 crypto assets, Filecoin is trading 5.07% above its 200-day SMA of $6.02.
It shows moderate stability, with 15 green days in the last 30 days and a 3% volatility rate. The network’s high liquidity is evident, with a market cap of $3.52B and a 24-hour volume of $1.60B, supported by a volume-to-market cap ratio of 0.4546.
3. PlayDoge (PLAY)
PlayDoge has rapidly gained momentum, raising an impressive $3.1 million in its presale within a week, following an initial $200,000 influx. The ongoing presale offers tokens at a bargain price of $0.00502 each, with less than two days remaining before the price increases to $0.00503 in the next stage. This presents a prime opportunity for investors to secure $PLAY at a lower rate before the price adjustment.
PlayDoge blends elements of the iconic Doge meme with the nostalgic Tamagotchi game from the 90s. Players care for their virtual Shiba Inu pets, accruing tokens through in-game activities and adventures. Top-performing players can earn additional rewards and recognition on the game’s leaderboard, enhancing the competitive and rewarding aspects of the gameplay experience.
BIG NEWS! #PlayDoge has gone #MultiChain 🚀 #Staking is now available on both #BNB and #ETH chains allowing even more $PLAY rewards! 🌐💰
Staking rewards will vary per chain🚨
Buy and Stake $PLAY tokens in #Presale now!
👉🏼 https://t.co/JT0VEofqf2 pic.twitter.com/UBQsvOQ8Y3— PlayDoge (@PlayDogeGame) June 7, 2024
Furthermore, PlayDoge offers multiple avenues for token acquisition, including in-game purchases, staking, and exchange for other cryptocurrencies. Early staking participants can enjoy an attractive APY of 182%, incentivizing passive token accumulation.
Operating on Binance Smart Chain and Ethereum, PlayDoge enhances its visibility and potential for listing on major exchanges, bolstering its market presence and liquidity prospects. Also, with the ongoing development of the PlayDoge app and a solid roadmap, positive reception during the presale is expected to accelerate progress towards milestones.
4. Sei (SEI)
Sei stands out as the first Layer 1 blockchain explicitly tailored for trading. By offering decentralized exchanges (DEXes) a crucial advantage, Sei positions itself at the heart of the crypto, NFT, and gaming ecosystems.
Its design prioritizes reliability, scalability, and speed, ensuring DEXes operate seamlessly. Unlike traditional blockchains, which often struggle with these demands and suffer costly downtimes, Sei addresses these challenges head-on.
Sei powers various financial applications, from derivatives to asset management solutions. Its native token, SEI, plays a crucial role in transaction fees, staking, and network governance. This fosters a dynamic and community-driven ecosystem where users have a say in its evolution.
Its robust security framework leverages cutting-edge technology and emphasizes transparent governance. Strategic collaborations with prominent entities like Coinbase, Jump, Layer Zero, and Multicoin Capital further enhance Sei’s development and innovative capabilities.
Thrilled to announce that @RevolutApp, the all-in-one finance app trusted by 40+ million users, has launched a Crypto Learn campaign in collaboration with Sei.
Discover how Sei’s pioneering parallelized EVM enhances speed, security, and developer tools to meet evolving needs.… pic.twitter.com/vhBFFwXECP
— Sei 🔴💨 (@SeiNetwork) June 5, 2024
Sei is priced at $0.53378, marking a 4.30% increase in the last 24 hours. Over the past month, it has seen a steady rise of 1.5%, with 11 positive trading days. The 14-day RSI of 48.79 suggests a neutral market sentiment, while the 30-day volatility remains low at 5%, indicating stability. With a market cap of $1.56B and a 24-hour trading volume of $430.26M, Sei demonstrates high liquidity. These robust metrics highlight Sei’s stability and growth potential, making it an attractive option for investors.
5. Wormhole (W)
Wormhole is a decentralized protocol created by Jump Crypto, which was initially launched as a token bridge in 2021. It facilitates the transfer of tokens and communication between blockchains like Solana and Ethereum.
With Wormhole V2, it evolved into a general messaging protocol, enabling various blockchains and decentralized applications to communicate seamlessly. The protocol supports over 30 blockchains and has processed over $40 billion in value transfer.
Wormhole’s use cases are diverse. It allows token transfers between chains, enabling cross-chain governance and NFT transfers. Multi-chain games can utilize this technology. The protocol has expanded to include Terra and the BNB Smart Chain.
Stake For Governance is now live for W token holders!
This is your opportunity to participate in the governance and impact the future direction of the Wormhole DAO and platform.
Get started now at the @tallyxyz Governance Portal: https://t.co/PrL3F8cE2C pic.twitter.com/XrVhMD991t
— Wormhole (@wormhole) June 6, 2024
Wormhole also offers products like Wormhole ZK for zero-knowledge proofs, Wormhole Queries for blockchain data access, Wormhole Gateway for connecting Cosmos liquidity to Ethereum, Wormhole Connect for easy token bridging, and Native Token Transfers for synchronized token states across chains.
As for performance, Wormhole’s price is currently $0.746712, surging 10.23% in the last 24 hours. Over the past seven days, the price increased by 29.2%, and in the past 30 days, it rose by 24.5%. With 14 green days out of 30, its 30-day volatility is 6%. The market cap is $1.35 billion, with a 24-hour volume of $1.04 billion, indicating high liquidity and a volume-to-market cap ratio of 0.7729. This data suggests strong interest and activity, making Wormhole a notable investment.
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