Join Our Telegram channel to stay up to date on breaking news coverage
Today’s market insights suggest that Bitcoin (BTC) might be hitting a “local bottom,” as CryptoQuant’s latest analysis highlights. The NVT-GC tool, a key on-chain metric, is flashing bullish signals, hinting at a potential rebound despite earlier warnings of a possible downturn. Currently priced at $58,681, Bitcoin has dipped 3.8% over the last 24 hours after losing ground below $60,000.
However, a stronger recovery over the past week, with a 7.58% gain from lows of $49,500, shows a positive shift. The NVT-GC, comparing Bitcoin’s market cap to transaction value, hints at a turning point, similar to January 18 and July 12, which saw gains of 78% and 23%, respectively.
Biggest Crypto Gainers Today – Top List
As Bitcoin flirts with recovery, the spotlight shines on today’s top gainers in the crypto market. Aelf and Curve DAO Token are making headlines with impressive gains, while Sui Crypto and Compound show steady progress. Aelf, up 9.18%, is leveraging its new ChainGPT partnership to drive a major blockchain innovation leap. Curve DAO Token, up by 5.37%, continues to make waves in the stablecoin trading space. Sui Crypto adds to the excitement with a 1.21% increase, reflecting its strong market presence. Meanwhile, Compound’s quieter rise of 0.37% underscores a market filled with potential and shifting dynamics.
1. Aelf (ELF)
Aelf is a pioneering Layer 1 blockchain platform known for its modular systems and parallel processing. Launched in 2017 with its global hub in Singapore, it leads Asia in blockchain innovation. Its cloud-native architecture and multi-sidechain technology offer unlimited scalability. By integrating advanced AI, Aelf transforms blockchain into a smarter, self-evolving ecosystem. Additionally, it provides tools for building and deploying smart contracts and dApps with its native C# SDK and SDKs in Java, JS, Python, and Go.
In a major leap forward, Aelf has officially unveiled a strategic partnership with ChainGPT. This collaboration will integrate ChainGPT’s cutting-edge decentralized AI technologies, significantly boosting Aelf’s blockchain capabilities. Brian Liang, Aelf’s COO, highlighted the partnership’s transformative potential, noting how it will enhance blockchain applications. Developers will now benefit from advanced tools, driving the creation of more dynamic applications and fostering smarter interactions.
aelf is proud to announce our strategic partnership with @Chain_GPT to enhance our blockchain infrastructure with cutting-edge AI solutions! 🌐💡
🤖 We'll be integrating #AI solutions from ChainGPT to improve user experiences and empower developers on our AI-enhanced Layer 1… pic.twitter.com/UxRmdlZIvc
— ælf (@aelfblockchain) August 7, 2024
In light of this collaboration, Aelf, priced at $0.439534, has seen a significant 9.18% surge in the last 24 hours, signalling a strong market response. It maintains a strong market presence with a high liquidity ratio of 0.2566 volume-to-market-cap. However, it’s still trading 16.38% below its 200-day SMA, much like CRV, which faces similar downward pressure. The 14-day RSI of 31.40 suggests that Aelf is currently neutral, with the market possibly gearing up for its next move. Despite this neutrality, its low volatility of 5% adds a layer of stability, making its 53% price increase over the past year all the more impressive.
2. Curve DAO Token (CRV)
Curve DAO Token is at the heart of Curve, a decentralized exchange designed specifically for stablecoin trading. It uses an Automated Market Maker (AMM) to manage liquidity efficiently. As a result, Curve has become a prominent player in the DeFi space, catering to those involved in yield farming and liquidity mining. Users can maximize returns with minimal risk by trading stablecoins, which are less volatile.
The CRV token, introduced alongside the DAO, enhances profitability by serving as a governance token. It is awarded to users based on their liquidity commitment and length of ownership, further incentivizing participation. The Curve platform charges a modest fee, which benefits liquidity providers. However, like any decentralized system, it carries risks. Users face potential impermanent loss, a common issue with AMMs. While Curve reduces risk by only supporting stablecoins, market fluctuations and rebalancing can still lead to losses.
Whether you are into WBTC FUD or not, you can borrow against WBTC and TBTC on https://t.co/EjL8SImCsN https://t.co/amGXFdUTdY pic.twitter.com/vpHiwREGzJ
— Curve Finance (@CurveFinance) August 10, 2024
CRV, now priced at $0.272402, managed a 5.37% increase over the last 24 hours, offering a glimpse of recovery. Its liquidity is strong, with a 0.9354 volume-to-market-cap ratio, suggesting it’s more actively traded than Aelf. Like Compound, which saw a minimal price increase, CRV trades in a neutral zone with a 14-day RSI of 56.19, reflecting market indecision.
Despite 13 green days out of the last 30, its volatility is a low 8%, which contrasts with the higher volatility in assets like Sui Crypto. However, CRV’s steep decline, trading 55.77% below its 200-day SMA, underscores a tough year. This is further emphasized by its 54% price drop—a stark contrast to Aelf’s upward trajectory.
3. The Meme Games (MGAMES)
Launching on September 10, 2024, The Meme Games Token will debut on decentralized exchanges (DEX). As anticipation builds, early investors are invited to join a thematic competition inspired by the Olympic spirit. With a current price of $0.0092 and $358,027.19 already raised toward a goal of $1,054,862, purchasing $MGMES tokens now grants a 25% bonus. This presale offers a chance to be part of a playful yet potentially rewarding experience and aims to generate excitement and draw users to invest early.
69 people have won a 25% bonus by picking $PEPE at the #MemeGames!
Coincidence or destiny? 🏆
Choose from 5 meme icons and you could score a 25% bonus on your $MGMES purchase if they win the race! 🔥
Join now! 👉 https://t.co/lbYNWg8iXr#Paris2024 #Presale #Crypto #Alts pic.twitter.com/q4Tdbzkpo5
— The Meme Games (@MemeGames2024) August 2, 2024
The Meme Games Token introduces a novel concept where meme coins take the spotlight in a competition-style format. Buyers can choose their favourite meme athlete from a diverse lineup, such as PEPE, the swimming sensation, and DOGE, the field athlete known for his stamina. By purchasing $MGMES tokens, participants enter their chosen meme competitor into the games. Winners of the Meme Games can enjoy a 25% bonus on their token purchases, adding an element of strategy and engagement to the investment.
To participate, users can connect their wallets and buy $MGMES tokens using ETH, BNB, USDT, or bank cards. The platform encourages multiple entries to increase the chances of winning a bonus. As the event progresses, token holders can track their meme athletes and earn extra rewards if their competitors perform well. Now is the prime opportunity to capitalize on this innovative investment.
4. Sui Crypto (SUI)
Sui Crypto is a cutting-edge layer-1 blockchain platform built for global adoption. It uses a novel object-centric data model and the secure Move programming language to address inefficiencies found in current blockchains. Moreover, Sui prioritizes user experience by removing common blockchain barriers. For instance, innovations like zkLogin, sponsored transactions, and programmable transaction blocks make Sui’s applications more accessible and user-friendly.
Furthermore, Sui’s architecture supports low-latency transactions with stable fees, high throughput, and parallelized execution. Its object-oriented design enables developers to create objects tailored to their needs, ensuring network-wide compatibility and deep composability. Additionally, unique features include parallel transaction processing and fast finality with consensus bypassing. The network’s security relies on a delegated proof of stake (PoS) mechanism, with protocols like Narwhal and Bullshark managing transactions efficiently.
🤯Huge news from @SuiNSdapp! https://t.co/mpnGxEUzgQ
— Sui (@SuiNetwork) August 9, 2024
Currently, SUI is priced at $0.90632 and is on a steady rise, with a 1.21% increase in the last day. With a liquidity ratio of 0.7100, it shows strong market participation, similar to CRV’s high liquidity. Although its 14-day RSI 48.87 indicates a neutral stance, its 13% volatility suggests potential for more significant moves. In contrast to Aelf, which remains below its 200-day SMA, Sui Crypto trades 55.48% above its 200-day SMA, signalling robust upward momentum. Additionally, with a 50% price increase over the past year, it outpaces 58% of the top 100 crypto assets.
5. Compound (COMP)
Compound is a DeFi lending protocol where users earn interest by depositing cryptocurrencies into various pools. When tokens are deposited, users receive cTokens in return. These cTokens represent their stake and can be redeemed for the original cryptocurrency anytime. As time passes, the value of these cTokens increases, allowing users to redeem more of the underlying asset than initially deposited. This mechanism distributes interest to users.
On the other hand, borrowers can secure loans by depositing collateral into any Compound pool. The maximum Loan-to-Value (LTV) ratio ranges from 50% to 75%, depending on the collateral type. Moreover, interest rates vary, and borrowers risk automatic liquidation if their collateral value drops below a certain threshold. Additionally, the platform’s governance, driven by COMP token holders, allows the community to propose and vote on changes. Meanwhile, security is maintained through smart contracts, which manage cToken transactions and enforce overcollateralization.
The Compound community is holding a delegate race.
Get involved in Compound governance today!
Learn more at the link below. https://t.co/KbhMKOcSmP
— Compound Governance (@compgovernance) August 5, 2024
Compound’s current price of $41.83 reflects a mere 0.37% increase in the last 24 hours, hinting at a market holding its breath. While healthy, its liquidity ratio of 0.1575 is less impressive than that of CRV, indicating that trading activity might be more subdued. Like Aelf, it is currently trading in a neutral zone with a 14-day RSI of 41.19, suggesting a market still weighing its options. Despite 13 green days in the past 30, Compound’s 10% volatility hints at some market movement, though it’s still trading 12.89% below its 200-day SMA. This 24% drop over the past year highlights a token struggling to keep pace, especially compared to other top gainers’ robust performance.
Read More
PlayDoge (PLAY) - Newest ICO On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited - playdoge.io
Join Our Telegram channel to stay up to date on breaking news coverage
