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In a market reeling from a bout of risk aversion, cryptocurrencies faced significant declines today. For instance, Bitcoin plummeted over 16%, trading at $52,680 after an 11% drop, marking the steepest fall since the FTX exchange collapse. Similarly, Ether suffered, shedding over a fifth of its value before stabilizing at $2,342, its worst drop since 2021.
Moreover, these declines are part of a broader global stock selloff fueled by concerns over the economic outlook. Additionally, geopolitical tensions in the Middle East and skepticism about heavy investments in artificial intelligence contribute to the market’s unease. Despite the turmoil, some investors view this as a buying opportunity. They believe that the prospect of a less restrictive monetary policy could be beneficial for crypto.
Biggest Crypto Gainers Today – Top List
In a sea of market turmoil, a few tokens are standing out and grabbing attention. Fasttoken is creating a buzz with its unique Proof of Stake and Activity (PoSA) consensus mechanism, pushing its price up even as most tokens struggle. Meanwhile, Kujira is making waves with its innovative DeFi solutions and super-fast transactions on the Cosmos network. Tether EURO is staying steady, offering stability in a stormy market. Want to know why these top gainers are catching the eye of investors? Let’s get into the details to discover their secrets and see what makes them stand out.
1. Fasttoken (FTN)
Fasttoken is the lifeblood of Bahamut, a cutting-edge EVM-based blockchain. Initially launched as an ERC-20 token, FTN powers the SoftConstruct ecosystem, enabling seamless transactions across its diverse range of products and services. Bahamut’s standout feature is its Proof of Stake and Activity (PoSA) consensus mechanism.
Unlike traditional systems, PoSA adds an activity parameter, measuring the gas used by a validator’s smart contract. This innovation ensures that the more active and engaged a validator is, the higher their chances of proposing blocks and earning rewards. With over 4,200 validators, 600,000 transactions, and 200,000 FTN holders, Bahamut is making waves in the blockchain world.
PoSA redefines blockchain consensus by blending traditional Proof of Stake with a focus on activity. Essentially, the more a smart contract is utilized, the greater its influence in the network. This creates a powerful incentive for developers to build high-quality, frequently used contracts. The result is a vibrant, innovative ecosystem where activity drives rewards and participation.
FTN is surging despite the current bearish crypto market, currently priced at $2.34. In the past 24 hours, it enjoyed a modest 0.56% rise, reflecting a healthy market interest. Its high liquidity, with a volume-to-market cap ratio of 0.2240, underscores its strong trading activity. However, the 14-day RSI stands at a sky-high 100.00, suggesting the token is overbought, and a price correction might be on the horizon.
Over the last 30 days, FTN has seen 17 positive days, accounting for 57% of the month. Its volatility remains impressively low at 1%, adding to its appeal. Notably, it trades a great 142,102.89% above its 200-day SMA of $0.001646, showcasing a significant long-term growth trajectory. In the past year, FTN’s price has surged by 129%, outshining 78% of the top 100 crypto assets.
2. Kujira (KUJI)
Kujira is a vibrant layer 1 blockchain built on the Cosmos network. It offers a diverse range of decentralized finance (DeFi) tools and sustainable financial technology for web3 users. By combining Cosmos’ modular software development kits (SDKs) with native DApps, Kujira strikes a unique balance. Moreover, new DApps must gain governance approval, ensuring quality and security.
Originally known as ORCA, it focused on liquidated collateral bids on the Terra network. However, the Terra collapse led to significant losses, prompting Kujira to create its network. This new network prioritizes sustainability and low inflation, learning from past challenges.
Furthermore, Kujira is packed with optimizations. It uses Tendermint BFT for consensus and the Inter-Blockchain Communication (IBC) protocol for swift transactions. Block times are just 2.2 seconds, ensuring low latency. Additionally, developers enjoy seamless integrations, like the webAssembly (wasm) virtual machine and on-chain randomness. In essence, Kujira is poised to revolutionize DeFi with its innovative approach.
🛠️ Development Update 🛠️
KujiraIndex is VERY close to launching on mainnet.
Contracts are ready ✅
Final UI tests are being conducted ⌛️
Expected to go live in August 🗓️ 🚀Are you excited anon? 🐬💜 pic.twitter.com/ai1PACc2V8
— KujiraIndex 🉐 (@KujiraIndex) July 27, 2024
Kujira stands out in the crypto sea with its current price of $0.356767, marking a 0.88% increase in the last 24 hours. This token exhibits medium liquidity, as seen in its 0.0162 volume-to-market cap ratio. The 14-day RSI at 66.36 suggests that KUJI is in a neutral zone, likely to trade sideways for now. With 12 green days in the last 30, it managed to stay positive 40% of the time.
Unfortunately, KUJI’s 30-day volatility sits at 22%, indicating moderate price fluctuations. Furthermore, it trades 78.56% below its 200-day SMA of $1.68419, reflecting some recent struggles. Over the past year, KUJI’s price has dropped by 51%, managing to outperform only 2% of the top 100 crypto assets.
3. Pepe Unchained (PEPU)
Pepe Unchained is making headlines by surpassing $6.7 million in its presale, defying the downturn in the meme coin market. Despite the current slowdown affecting many meme coins, Pepe Unchained has rapidly achieved its $7 million goal. This new meme coin is gaining momentum, targeting major exchanges with its innovative Layer 2 blockchain on Ethereum. By offering a faster and more cost-effective way to acquire Pepe, $PEPU is poised to outshine its Layer 1 counterparts.
Another incredible milestone! We've raised $7M! 🎉🐸
The biggest advancement in meme coin tech is coming soon! pic.twitter.com/BkgRrpkQ8t
— Pepe Unchained (@pepe_unchained) August 3, 2024
Despite a broader market dip, $PEPU has seen a staggering 3,266% increase in funding since its launch, positioning it as a major player in the meme coin space. Investors are not just buying but also staking a significant portion of their $PEPU, demonstrating long-term confidence in the project. With around 555 million tokens locked into staking, $PEPU is proving that the enthusiasm for meme coins is very much alive.
Pepe Unchained is set to lead the next meme coin supercycle. Its innovative Layer 2 blockchain approach positions $PEPU as a potential catalyst for market revival. For those eager to get involved, now is the time to invest before the price rises. With a fully audited smart contract and a high-stakes APY, Pepe Unchained presents a compelling opportunity for early investors. Visit their website, connect your wallet, and purchase $PEPU to be part of this exciting venture.
4. Tether EURO (EURT)
Tether EURO is a stablecoin pegged directly to the euro, the world’s second-largest currency. Created using the ERC-20 standard, EURT maintains a 1:1 ratio with the euro, ensuring its stability. To obtain EURT, users first register on the platform, complete KYC and AML verification, and deposit the equivalent euro amount.
This deposit acts as collateral, allowing Tether Limited to issue EURT tokens. Once the deposit is confirmed, the same amount of EURT tokens is generated in the user’s account. These tokens can then be used like any other ERC-20 token.
EURT is designed to bridge the gap between cryptocurrencies and traditional financial markets, offering a reliable means of transaction. It provides a stable alternative to volatile cryptocurrencies, making it ideal for trading and investment. Additionally, EURT facilitates easy exchanges and compatibility with other ERC-20-based ecosystems. Overall, EURT is a valuable tool for maintaining liquidity and reducing transaction losses in both crypto and traditional finance.
Tether's Q2 2024 attestation is out.
Another great quarter.A short summary as of 30 June 2024:
* $1.3 billion in net operating profit.
* $520 million increase in Tether's Group own equity, bringing it to a total of $11.9 billion.
* $5.33 billion in excess reserves
* more than… https://t.co/f0vb4VfmYB— Paolo Ardoino 🤖🍐 (@paoloardoino) July 31, 2024
EURT, with a current price of $1.089381, has seen a minimal 0.02% rise in the last 24 hours. Despite its low liquidity, marked by a 0.0000 volume-to-market cap ratio, it remains stable. Additionally, the 14-day RSI at 48.08 indicates a neutral position, suggesting sideways trading.
Impressively, among the top gainers, EURT stands out with 30 consecutive green days, showcasing 100% positivity. Moreover, its volatility is non-existent at 0%, further contributing to its stability. Trading 1.21% above its 200-day SMA of $1.07641, EURT demonstrates slight but steady growth. In the past year, although its price has decreased by 1%, it has managed to outperform 35% of the top 100 crypto assets.
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