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The crypto market is navigating a bearish phase, as indicated by the Fear & Greed Index, which currently shows a reading of 34, reflecting fear among investors. In this challenging environment, 96% of cryptocurrencies have seen a decline in value over the past 24 hours, highlighting the tough market conditions. However, amidst this downturn, a few cryptocurrencies are standing out with notable gains.
Biggest Crypto Gainers Today – Top List
So, what’s driving these gains? In this article, we explore the factors behind each cryptocurrency’s performance. We delve into the unique aspects of Helium’s IoT network, Beldex’s privacy features, TRON’s stable growth, and Pax Gold’s gold-backed value. By examining these elements, we provide insights into their current success and potential for future growth. Get ready to uncover the reasons behind these impressive gains and see what lies ahead for these top gainers.
1. Helium (HNT)
Helium is an innovative project that connects IoT devices through blockchain technology. It creates a decentralized network where nodes, called Hotspots, provide coverage and facilitate communication. These Hotspots use the LoRaWAN protocol, making Helium one of the largest networks with over 25,000 active nodes. The network’s design ensures secure and efficient data transmission, addressing common privacy concerns in the IoT sector. By decentralizing network management, Helium offers a reliable alternative to traditional IoT hubs like Google and Amazon.
The Helium token (HNT) incentivizes participation in the network. Users earn HNT by operating Hotspots and contributing to network stability. The network runs on the Proof-of-Coverage consensus mechanism, which ensures node reliability and transaction validation. Additionally, users pay transaction fees with Data Credits, a non-exchangeable token tied to individual accounts. Furthermore, the HoneyBadger BFT protocol secures the network, ensuring it performs consistently even when connection quality varies.
Among the top gainers, HNT is taking the lead with an impressive 4.25% surge, pushing its price to $4.72. This robust performance over the last 24 hours highlights Helium’s strong momentum, as evidenced by its 131% growth over the past year. The cryptocurrency’s current trading position is notably bullish, sitting 110.48% above its 200-day SMA. However, caution is warranted as its RSI of 74.77 signals that it might be overbought, potentially indicating a future pullback. Despite this, Helium’s moderate liquidity with a volume-to-market cap ratio of 0.0139 supports its dynamic trading environment. This coin stands out with its remarkable yearly gains, yet investors should stay alert for any market corrections.
2. Beldex (BDX)
Beldex is a standout in the cryptocurrency space, particularly due to its emphasis on privacy. It features several privacy-focused decentralized applications (dApps), including BChat, BelNet, and the Beldex Browser. Specifically, BDX operates on a decentralized blockchain that enables secure and anonymous peer-to-peer (P2P) transactions. Notably, the RingCT protocol, along with ring signatures and the CryptoNight hashing algorithm, ensures that transaction details are kept confidential. Additionally, Beldex addresses token inflation through a coin burn mechanism and supports cross-chain anonymity via its integration with the BNB Smart Chain.
In terms of security, Beldex now uses a Proof-of-Stake (PoS) architecture, which enhances scalability and reduces transaction fees. Moreover, it integrates advanced privacy technologies from Monero, Dash, and Zcash while also incorporating its custom features. Furthermore, the network’s security is reinforced by masternodes, which validate transactions and store blockchain copies. Consequently, as the number of masternodes grows, the reliability of the Beldex network improves, offering users a robust solution for privacy and security.
BDX follows HNT with a solid 3.37% rise, lifting its price to $0.045491. While its annual growth of 16% is relatively modest compared to Helium, its price is currently 10.60% above its 200-day SMA, reflecting a positive long-term trend. Additionally, the cryptocurrency’s low volatility of 6% indicates a stable market position. The 50% positive trading days over the past month further underscore its steadiness. However, its low liquidity with a volume-to-market cap ratio of 0.0033 could be a concern for some traders. The neutral RSI of 65.59 suggests that Beldex is neither overbought nor oversold, implying it might trade sideways in the near term.
3. Shiba Shootout (SHIBASHOOT)
Shiba Shootout is on an exciting trajectory with its well-defined roadmap. The project has already achieved key milestones, including the community launch, audit, token production, and presale. These initial steps have set the stage for the next phase of growth. Moving forward, the second phase introduced engaging Campfire Sessions and a mini-game beta, which are designed to enhance community involvement. As the presale progresses, it is rapidly approaching $900,000 of the $1,631,230 target, with the price expected to rise once this milestone is reached.
The tokenomics of Shiba Shootout are thoughtfully structured to support both growth and community engagement. Out of the total 2.2 billion $SHIBASHOOT tokens, 35% are earmarked for the presale, ensuring early support and involvement. Another 20% is allocated to marketing efforts to boost visibility, while 20% goes to staking to incentivize long-term investment. The Rootin’ Tootin’ Shooter fund receives 5%, with the remaining tokens divided between project funds and liquidity. Currently, the token is priced at $0.0198, reflecting a solid entry point for investors.
Beyond the numbers, Shiba Shootout offers a range of engaging features for its community. First, join the Posse Rewards program to earn bonuses through referrals. Additionally, you can share and connect with others in Campfire Stories. Furthermore, participate in Token Governance Roundups to influence key project decisions. Also, try your luck in the Lucky Lasso Lottery and enjoy the benefits of Savings Saddlebags and Cactus Staking.
4. TRON (TRX)
TRON is a decentralized blockchain-based operating system designed to give digital content creators full ownership rights. It aims to help content makers earn more by allowing consumers to reward them directly, bypassing intermediaries like YouTube or Apple. The platform supports smart contracts, various blockchain systems, and decentralized applications (dApps). Built to create a decentralized internet, TRON provides developers with the tools to create dApps and share content without worrying about transaction fees.
In essence, TRON lets creators connect directly with their audience, reducing go-betweens commissions and lowering content costs for consumers. Furthermore, it boasts a global team of experienced developers, including talent from Ripple Labs. Transparency is another key feature, as TRON offers a detailed roadmap outlining its plans. The network is secured by a delegated proof-of-stake consensus mechanism, where TRX holders vote for “super representatives” who verify transactions. This system enhances throughput and ensures efficient transaction processing.
TRX has experienced a 2.42% increase, bringing its price to $0.126306. With a substantial 64% increase over the past year and trading 5.00% above its 200-day SMA, it is displaying solid performance. Its low 30-day volatility of 3% suggests stable price movement, with 16 out of the last 30 days being green days. Additionally, TRON’s high liquidity, evidenced by a volume-to-market cap ratio of 0.0569, supports a healthy trading environment. The neutral RSI of 32.79 indicates no immediate overbought conditions, suggesting TRON may continue its steady trend. Despite not having the highest recent gain, its consistent performance and liquidity make it an attractive option for investors.
5. Pax Gold (PAXG)
Pax Gold is a gold-backed cryptocurrency initiated in Sep 2019 by the creators of Paxos Standard (PAX). As an ERC-20 token on the Ethereum blockchain, PAXG makes investing in gold accessible by allowing users to trade fractional amounts. Specifically, each PAXG token is backed by a portion of a London Good Delivery gold bar securely stored in Brink’s vaults. This innovation simplifies gold investment and eliminates high minimum buy limits associated with physical gold.
It stands firm on the Ethereum blockchain and utilizes the proof-of-work (PoW) model for security. Interestingly, it also has the flexibility to be launched on other blockchains. This unique blend of gold’s enduring value and blockchain technology creates a reliable investment avenue. Ultimately, Pax Gold bridges traditional commodities with digital finance, providing users with both security and accessibility.
Marketwise, PAXG has seen a modest 1.43% increase in the last 24 hours, now trading at $2,477.59. Even though its annual growth of 28% is notable, and it is trading 27.85% above its 200-day SMA, its low 30-day volatility of just 1% reflects a stable market position. The 57% positive trading days in the past month also indicate a favorable trend. With a moderate liquidity ratio of 0.0289, PAX Gold remains stable, though its neutral RSI of 68.55 suggests it might trade sideways rather than show further dramatic movement. Despite its slower recent growth compared to other top gainers, its stability and consistent performance over time are appealing to those seeking reliable assets.
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