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The crypto market has had a bearish run for the past 4 months and has been the reason behind many projects shutting their operations. But even in this turbulent market, some coins still manage to outshine the others.
List of Top Gainers in the Past 24 Hours
1. ApeCoin
Launched in March of 2022, ApeCoin (APE) has been a big hit among investors and the crypto and NFT community. Backed by Yuga Labs, the same company behind the Bored Ape Yacht project (a multi-billion dollar NFT project), ApeCoin resembles the theme of BAYC. However, investors are surprised when they find out that Yuga Labs have not developed ApeCoin.
ApeCoin, in reality, was developed by the APE foundation (which also runs the APE ecosystem) at the suggestion of APE DAO. APE DAO enables the APE community members (who own ApeCoins) to vote on governance matters of the ecosystem. The APE Foundation decides and takes action on the suggestions given by the DAO.
The board of APE Foundation is currently headed by Alexis Ohanian (co-founder of Reddit). The board consists of other veterans making sure that the ecosystem has strong yet decentralized leadership.
12% of the total ApeCoins have been distributed to the BAYC and MAYC (Mutant Ape Yacht Club) token holders at a predetermined exchange rate. The ApeCoin had managed to reach an all-time high of $40 dollars since its launch in March. The coin shows a lot of potential and has regained a lot of its value in the past couple of days. It is the top gainer according to Coinmarketcap and has gained almost 16% in the last 24 hours.
Your Capital is at Risk.
2. Chiliz
Chiliz (listed as CHZ on top crypto exchanges) is a blockchain-based product that allows sports fans to be more active by holding voting rights regarding team management, getting rewards for their participation, etc. It also enables the sports teams to leverage their fanbase to earn more revenue than they earned earlier. Moreover, it enables the teams to get closer to their fans.
Chiliz does this using its Socios app. The Socios app enables sports teams to create their own tokens which can only be bought by the fans using the CHZ token. Through the purchased team token, an investor participates in voting activities and gets special recognition from the team. So far the platform has managed to rope in many big companies from various sports. Football teams like F.C. Barcelona, Arsenal, Manchester City, etc., have already joined the platform giving their fans an edge over fans of other teams.
Given that Chiliz has such a strong use case, it was not affected that badly (compared to the other cryptocurrencies) and has almost doubled in value since March. The coin has managed to gain more than 10% in the last 24 hours, making it one of the day’s top gainers.
With the launch of “I Am More Than A Fan” debit card and the chain 2.0, the coin is expected to grow to much greater heights.
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3. XRP
XRP is the biggest coin on this list by Market Cap. It also happens to be one of the oldest on the list, having been launched in 2012 by Ripple Labs. Ripple is a blockchain-based payment software that helps users make financial transactions to and from any part of the world within a few seconds. Because the system operates in blockchain, it also runs fewer risks of hacks by third parties (which is the biggest evil in this segment).
XRP is the native token of the Ripple platform. Users can only enjoy the services Ripple has to provide after they have purchased the XRP coins. This is because the platform operates on this currency and all charges a user must pay to be in XRP. Users can transfer both fiats and cryptocurrency using this platform in exchange for a small service charge (in XRP).
Ripple, according to many, may replace SWIFT ( the international financial transaction systems) in the future. XRP undoubtedly backed by a strong utility-based platform, making the coin a good investment option in the long run. In the short run, the coin has recovered a lot from its previous falls and has managed to gain almost 7% in the last 24 hours.
Your Capital is at Risk.
4. Celsius
Celsius is a DeFi platform that enables investors to earn interest on their crypto deposits (staking). This is particularly very incentivizing for long-term investors. They don’t bother about the small everyday price volatility as they can earn interest out of their assets which otherwise were sitting idle. Other DeFi features of the platform constitute a withdrawal feature.
People can withdraw money from the platform in exchange for small interest rates, which is much less when compared to traditional sources of borrowing. Celsius also boasts a transaction feature using which people are able to transfer funds from one account to the other in exchange for a little charge.
Even after being popular among its investors, it could not escape the bad effects of the crypto crash, and as a result, the company has to now file for bankruptcy. This makes Celsius not a good option to lock one’s money in. However, the coin has been able to gain in the past 24 hours since it filed for permission to sell its stablecoin holdings to pay off its debtors.
Your Capital is at Risk.
5. Stellar
Like many others in the list, Stellar is a DeFi platform that enables users to transfer funds to and from any part of the world. The idea behind creating such a platform was to make transfers simpler and less time-consuming for people across the world. Stellar is highly acclaimed for its fast transactions, and unlike other blockchain platforms, Stellar does not consume a lot of energy during mining.
XLM is the native currency of the Stellar platform and is used by users to pay transaction charges charged by the platform. With the help of the Stellar platform, people can make transactions at low costs and at a rapid speed. It also promises the utmost transaction security to its users.
The official token of the Stellar platform has been on a rise for the past 24 hours and has managed to gain about 4% during that time.
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6. Lido DAO
Lido DAO is more than a normal staking platform. It allows users to stake Ethereum in liquidity pools which other members can borrow. The users get interested in their staked Ethereum but what makes it different from other staking platforms is the staking rewards tokens that it issues to the stakers. These tokens are directly linked to ETh and have a 1:1 value to them.
The reward token is readily exchangeable on the platform and also across certain platforms, providing liquidity to the already staked amount. The Lido DAO currently only operates on Ethereum, but it will soon open gates for staking coins like Solana and Terra.
This will increase the user base of the platform. The Lido DAO is also better than other staking platforms because the staker is not obliged to wait for the expiry of the staking pool to get back their assets and they can do the same by encashing the rewards token.
The above features make Lido DAO a very unique, rewarding, and democratic platform in the crypto market. The coin has witnessed a 4% growth in the last 24 hours, making it one of the top coins of the day.
Your Capital is at Risk.
7. Helium
Helium (listed as HNT) is a platform that enables its users to connect cost-efficient networks to communicate and share data using the network. Using the platform users can manage the hotspots (nodes) available. The Helium project is regarded as a network of networks and the fastest growing decentralized network worldwide.
The network, not to mention is fast too. People across the industry have well realized the project’s potential. Helium has been able to receive $200 million dollars worth of funding from big Venture Capitalists like Tiger Global and Andreeson Horrowitz. The coin will surely grow as the growing need will have an ever-lasting demand for faster and cheaper networks.
HNT (the native coin of Helium) has been able to gain almost 4% in the last 24 hours despite the bearish market.
Your Capital is at Risk.
8. The Sandbox
The Sandbox (listed as SAND) is a unique gaming platform built over the blockchain that tries to offer its users the best of Metaverse. Users in The Sandbox are allowed to purchase plots of land and create their own sets of tools and equipment that can further be developed into a full fledges games. So Sandbox decentralizes the game creation process by allowing any individual to create a game.
The map released by the platform of its metaverse will show the land plots already reserved by an entity. A large portion of the plots has been purchased by Binance, which shows the amount of faith the exchange behemoth has in this new project.
Sandbox was launched in 2020 and is currently trading around $0.8. The coin has been able to b one of the top gainers in the past 24 hours with its grains reaching over 2.5%.
Your Capital is at Risk.
9. PancakeSwap
PancakeSwap is a decentralized exchange that enables users to buy and sell crypto currencies offering services at high speeds and low costs. The users are not required to submit their KYC documents (which is the case with Centralized exchanges), making the investment process less cumbersome for the investors.
CAKE is the native currency of the exchange and provides users with staking facilities and earns interest on their CAKE token. All the transactions of the platform are conducted using this token. Ever since the platform was launched in 2020, it has not been hacked a single time and is extremely secure. The exchange is in the news every other day as new projects get listed on the platform. PancakeSwap operates on the Binance Smart Chain (BSC).
The coin has managed to gain 2.25% in the last 24 hours and is currently valued at $4.40. With new crypto projects ushering in and the ever-growing demand for decentralized exchanges, the exchange is sure to reach great heights and so will its coin.
Your Capital is at Risk.
10. Nexo
Although not a decentralized platform, Nexo is based on blockchain technology and competes with the other DeFi apps in the market. The platform allows users to stake their fiat as well as cryptocurrencies and earn compound interest on the same. The platform, however, is known for its generous lending activities. A borrower needs to have a credit check before borrowing funds from the platform.
Nexo offers both cryptos as well as fiat currency loans to its users. To get loans (fiat currency), a borrower is required to lock his crypto assets as collateral to get the loan. This is done to make sure that borrowers don’t default on their loans.
The NEXO coin was up 2% in the last 24 hours, making it the top ten gainers in the past 24 hours.
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Conclusion
The above coins are the top 10 gainers in the past 24 hours. A lot of these coins are utility based backed by sound projects.
A lot of coins mentioned above have not performed well in the past (and may continue to do so) because of the bearish run of the crypto market triggered by the Luna crash. However, there are new projects like TamaDoge, and Battle Infinity which are also backed by strong projects and have still managed to get a positive response from investors, as evident from their presales.
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