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In the global market news, there’s been a sobering development. Investors swiftly exited Bitcoin ETFs yesterday, pulling out a substantial $218 million, halting the steady influx seen in recent months. This sudden shift dampens expectations for a Federal Reserve rate cut amid disappointing U.S. economic growth figures. It prompts investors to flee volatile assets such as Bitcoin.
Approval of 11 ETFs in January sparked a surge, but yesterday marked the first day with no new funds entering IBIT. Industry leaders such as Grayscale and Fidelity faced significant outflows. Grayscale’s ETF took a hit with a $139.3 million loss, while Fidelity’s saw a $23 million outflow. These outflows signal a notable shift in sentiment towards stable investments amid economic uncertainty.
Biggest Crypto Gainers Today – Top List
As Bitcoin ETF withdrawals stir turmoil, the crypto market witnesses a contrasting narrative as other digital assets surge forward with renewed vigor. Among them are our top gainers for today: Lido DAO, Internet Computer, Picasso, and Monero. While Bitcoin continues its rollercoaster ride, these winners highlight the exciting possibilities within the crypto ecosystem. As investors adapt to economic ups and downs, these tokens provide fresh paths for growth and diversification.
1. Lido DAO (LDO)
Lido DAO is a decentralized autonomous organization (DAO) offering staking infrastructure across multiple blockchain networks. Its flagship service provides a liquid staking solution for Ethereum. This enables users to stake ETH and receive stETH tokens in return, representing their staked ETH and rewards. It ensures security through decentralized governance, audited code, and Ethereum-based smart contracts. These mechanisms facilitate user deposits and reward distributions.
Moreover, Lido aims to democratize staking by pooling ETH from multiple users. This eliminates the need for technical expertise or a minimum staking threshold of 32 ETH. With Lido Liquid Staking V2, users can engage in more efficient and versatile staking for Ethereum 2.0. Notably, its “Liquid Staking” model allows users to exchange ETH for stETH tokens, enhancing liquidity and enabling participation in LSDFi protocols.
Lido & @SSV_Network are going to mainnet 🎉
The Lido x SSV Simple DVT testnet is over, with aggregate validator performance exceeding all performance benchmarks.https://t.co/SfFZqaoagU
In the coming weeks, selected participants will be onboarded to mainnet Lido Simple DVT…
— Lido (@LidoFinance) April 26, 2024
Considering Lido DAO’s price metrics, the LDO token is priced at $2.16, reflecting a 2.18% surge in the last 24 hours. It trades 9.23% above the 200-day SMA; LDO exhibits neutral sentiment with a 14-day RSI of 51.64, indicating potential sideways movement. Despite 40% green days in the last 30 trading days, LDO’s 30-day volatility is a modest 15%, ensuring relative stability. With high liquidity, Lido DAO boasts a volume-to-market cap ratio of 0.0871, suggesting robust trading activity and investor interest.
2. Internet Computer (ICP)
The Internet Computer blockchain presents a revolutionary overhaul of blockchain design underpinned by cryptographic innovations. It introduces the concept of a “World Computer” blockchain. This blockchain can construct diverse online systems or services, including complex web applications, sans reliance on traditional IT infrastructure like cloud computing services. Governed by the Network Nervous System, it ensures transactional safety and efficiency through protocol upgrades. It also manages nodes to maintain decentralization and create subnets for data storage and program execution.
ICP token holds a dual role within the network, functioning as a governance tool and a computational fuel. Holders can participate in network governance by creating neurons with locked tokens. This allows them to earn voting rights on network operations and receive rewards in ICP. Furthermore, ICP powers computations within the network and serves as a reward mechanism for node operators. This dual utility underscores its significance in driving network participation and functionality.
ICP smart contracts can host and build almost anything, from SocialFi networks to Bitcoin L2s & Decentralized AI
ICP takes the power of serverless cloud computing and gives users the capability to build true Web3 dapps
Full stack decentralization ♾️ Only possible on #ICP pic.twitter.com/lGgrG7DhdE
— DFINITY (@dfinity) April 27, 2024
ICP is priced at $13.60, reflecting a modest 0.43% surge in the last 24 hours. Trading 20.72% above the 200-day SMA, ICP maintains a neutral stance with a 14-day RSI of 62.66, suggesting potential sideways movement. Despite 40% green days in the last 30 trading days, ICP’s 30-day volatility remains relatively low at 14%, indicating a degree of stability. Boasting high liquidity and a volume-to-market cap ratio of 0.0332, ICP showcases strong investor engagement.
3. Mega Dice (DICE)
The incredible Mega Dice Token has had its presale rocket past the $500,000 mark, attracting significant attention to this GambleFi venture. At the heart of the excitement lies its ambitious $2.25 million airdrop campaign, promising substantial rewards for participants. As the native cryptocurrency of the casino, $DICE aims to establish itself as the premier GameFi platform on Solana’s network.
Step into the cosmic realm of #CashGalaxy our exhilarating #CrashGame! 🌌
1️⃣ Place your bet
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4️⃣ Celebrate your WINS!Join the intergalactic excitement at Mega Dice Casino and reach for the stars! ✨
🔗 https://t.co/WlBHIFewuo pic.twitter.com/8FvypJnysf
— Mega Dice Casino (@megadice) April 26, 2024
Currently priced at $0.069 per token, it’s accessible for purchase using SOL, ETH, or BNB. With a total supply of 420,000,000 $DICE tokens, the presale allocates 35% for sale, totaling 147 million tokens. Further distributions include airdrops for players, liquidity pools, staking rewards, and strategic allocations for affiliates and marketing. Early investors anticipate substantial returns amid speculation of a surge, driven by Mega Dice’s status as the first licensed casino on Telegram.
Moreover, Mega Dice’s strategic fusion of airdrop incentives, staking rewards, and NFT offerings solidifies its position as a disruptive force in GambleFi. With an established player base and monthly wagering volume, the project aims to leverage its operational prowess. This effort seeks to propel $DICE to the forefront of decentralized gambling, potentially reshaping the sector and crypto market.
4. Picasso (PICA)
Picasso anchors the ever-expanding Composable ecosystem, driving interoperability and functionality across multiple blockchains. As the native token of Picasso on Kusama and the Composable Cosmos Chain on Cosmos, PICA fuels cross-ecosystem IBC transfers. This enables seamless connectivity between platforms like Polkadot, Kusama, and Cosmos, with future integrations planned for Ethereum and Solana.
Beyond facilitating cross-ecosystem transactions, PICA boasts a multifaceted utility that underpins various aspects of the Composable network. From revenue generation through staking to network usage, oracle and collator staking, validator staking, DEX pairing, and governance, PICA plays a critical role in shaping the decentralized market. Its versatility and extensive use cases position it as the backbone of a more interconnected blockchain future, fostering collaboration across ecosystems.
🤝@Picasso_Network is thrilled to join forces with @Edgevana!
✨The initiative introduces one of the most decentralized validators on the @Solana network. Our partnership ensures a secure and efficient staking experience accessible through popular platforms such as @phantom,… pic.twitter.com/A5wer5Jixp
— Picasso 🎨 (@Picasso_Network) April 26, 2024
The current price is $0.006302, marking a notable 5.63% surge in the last 24 hours. Trading significantly above the 200-day SMA by 1,961.04%, the token is experiencing strong bullish momentum. However, caution is warranted as the 14-day RSI stands at 100.00, indicating potential overbought conditions and a likelihood of correction. Despite this, recent market activity has seen a substantial increase in trading volume, which surged by 289.30% in the last 24 hours to reach $783,186. This uptick suggests increasing investor interest and market activity around PICA, signaling potential opportunities for token holders.
5. Monero (XMR)
Monero, launched in 2014, prioritizes transaction privacy and anonymity. Unlike Bitcoin transactions, which are traceable due to blockchain transparency, XMR employs advanced cryptography for enhanced privacy. This ensures sender and recipient identities remain obscured, enhancing transaction privacy and anonymity. Much emphasis is placed on privacy and security because Monero aims to protect all users regardless of technical expertise.
Monero’s uniqueness lies in its pursuit of maximum decentralization, eliminating the need for users to trust any centralized authority. Privacy is achieved through features like fungibility, ring signatures, and stealth addresses, offering advantages over other privacy coins like Zcash. Also, this gainer coin facilitates quick, inexpensive transactions without the fear of censorship.
Interested in accepting Monero? Please find an 'Accepting Monero for Businesses' guide below! https://t.co/EjozZo1uBo https://t.co/Yj5VeK9dxT
— Monero (XMR) (@monero) April 23, 2024
Now, to its market performance, XMR’s current price is $124.97, with a 0.75% increase in the last 24 hours. Despite a 19% decrease in the past year, the coin remains resilient, trading 17.17% below the 200-day SMA. With a neutral 14-day RSI at 46.46 and 47% green days in the last 30, XMR exhibits stability despite its 5% 30-day volatility. These metrics and unique features position Monero as a promising option for investors seeking privacy-focused cryptocurrencies.
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