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Uncertainty is the only certainty in the crypto market, and amidst this, four gainers have proved their worth: IOTA, Conflux, XRP, and Polkadot. With a current price of $0.293233, IOTA showcases a 4.66% surge in the past 24 hours and aims for complete decentralization with its impending 2.0 launch in 2024. Conflux, trading at $0.261392, boasts a 24-hour surge of +3.30% and high liquidity, with a volume-to-market cap ratio of 0.1567.
XRP, priced at $0.579579, has seen a 54% increase over the past year and showcases high liquidity with a volume-to-market cap ratio of 0.1267. Polkadot, priced at $8.26, has seen a 26% increase over the past year and trades 30.33% above the 200-day SMA, reflecting positive market sentiment.
Biggest Crypto Gainers Today – Top List
Crypto markets operate around the clock, a relentless dance of bulls and bears. In the last 24 hours, trading volume hit $322.40B. The market sentiment is bullish, with the Fear & Greed Index at 82 (Extreme Greed). While 48% of cryptocurrencies gained value, 52% experienced losses. PlayDapp is the top gainer, soaring by 103.64%, while Nervos Network suffered a 13.82% drop. Also, over the past year, Pepe Coin boasted an astounding gain of 10,000,000.00%, contrasting sharply with Arbitrum’s dismal loss of -62.83%. In the midst of the winning few, let’s go deeper into the details of the top gainers.
1. IOTA (IOTA)
IOTA, a distributed ledger technology (DLT), utilizes a unique architecture on the Tangle, a multi-dimensional blockchain. It facilitates decentralized data and value exchange through direct and secure transfers, recorded immutably on the network. Alongside its staging network, Shimmer, IOTA aims to establish a secure and permissionless infrastructure for the future economy.
It offers tools for decentralized app development, including Ethereum-compatible smart contracts and custom Layer 2 chains. With the impending launch of IOTA 2.0 in 2024, the protocol will undergo a significant upgrade for complete decentralization.
In the past 24 hours, IOTA has seen a 4.66% surge, trading at $0.293233, with a market dominance of 0.04%. The cryptocurrency market sentiment is bullish, registering 82 on the Fear & Greed Index. Over the past year, it outperformed 38% of the top 100 assets, demonstrating its resilience amidst market fluctuations.
The IOTA Foundation’s latest partnership initiatives aim to revolutionize global trade dynamics. Collaborating with organizations like the Institute of Export and International Trade and the World Economic Forum, they introduce the Trade Logistics Information Pipeline (TLIP). TLIP leverages IOTA’s DLT to streamline information exchange, addressing challenges such as fragmented data systems and supply chain inefficiencies.
👀An inside view into the signing of the @TLIP_io Collaboration Agreement with #IOTA's @DomSchiener – together with leaders from @TradeMarkAfrica @wef @InstituteGC @IoExport @GATFnews at the #WTOMC13AbuDhabi !
👉Read more about this watershed moment empowering #GlobalTrade ⬇️🌐… pic.twitter.com/aWNrYE1wDt— IOTA (@iota) February 27, 2024
This transformative platform provides real-time visibility into the supply chain process and facilitates automation through smart contracts. TLIP aims to create a standardized framework for trade information exchange, enhancing transparency and efficiency worldwide.
2. Conflux (CFX)
Conflux is a blockchain for decentralized applications (dApps), e-commerce, and Web 3.0 infrastructure. It enhances asset transfer with speed, efficiency, and minimal transaction costs. Utilizing the Tree-Graph consensus mechanism, Conflux merges Proof-of-Work (PoW) and Proof-of-Stake (PoS) for consensus. The native token, CFX, incentivizes participation, facilitating transactions, governance, and miner compensation via staking.
Its uniqueness lies in its technical architecture, solving industry challenges. Its cross-chain protocol, ShuttleFlow, fosters interoperability with Ethereum, Binance Smart Chain, and others. The Tree-Graph algorithm ensures scalability while maintaining decentralization and processing 300–6000 TPS. Lower fees, sponsored transactions, and an integrated staking system bolster user engagement.
Reflecting on the impactful 2022 China Fitness Competition (CFC) 🏋️♂️🚀, a milestone event blending sports, the #metaverse, and #NFTs, propelling us into the era of the Web3 sports metaverse with #Conflux. The Blockie Metaverse emerged as a pioneer, merging sports content with the… pic.twitter.com/jQT2Iq3kDe
— Conflux Network Official (@Conflux_Network) February 24, 2024
Performance metrics indicate positive trends with its current price at $0.261392, a 24-hour surge of +3.30%, and a market dominance of 0.05%. Investor sentiment remains bullish, with a Greed/Fear Index at 82. Over the past year, it outperformed 39% of the top 100 assets, albeit trailing Bitcoin by -51.41% and Ethereum by -40.87%. Currently trading 58.39% above the 200-day SMA at $0.165953, CFX maintains a neutral RSI at 53.41. With 57% green days in the last 30 and 30-day volatility at 6%, it demonstrates high liquidity, boasting a volume-to-market cap ratio of 0.1567.
3. Sponge V2 (SPONGE)
Sponge V2 was crafted to surpass V1, providing increased rewards and a more robust ecosystem. The team innovated the market with a distinct approach to transaction fees, liquidity, and staking. Employing a mechanism that absorbs a small percentage of each transaction and redistributes it to token holders ensures early community members are rewarded for their participation.
Moreover, Sponge V2 initiated a play-to-earn game, enabling players to earn $SPONGE tokens and enhancing the token’s utility. At its core lies the Stake-to-Bridge model, allowing the holders to acquire V2 by staking their V1 tokens, facilitating a smooth transition, and incentivizing loyalty through potential staking rewards.
Sponge’s price today is $0.00006109, with a 24-hour trading volume of $14,457. It has increased by 21.04% in the last 24 hours. It is also currently -9.20% from its 7-day all-time high of $0.00006727 and 94.14% from its 7-day all-time low of $0.00003147. $SPONGE has a max supply of 40.4 B $SPONGE.
We aint slowing down any time soon 🧽$SPONGE #SpongeV2 #100x #MemeCOin #Crypto #Alts #Web3 pic.twitter.com/kPtNgZM9lE
— $SPONGE (@spongeoneth) February 24, 2024
With over 13K token holders and supported by 30K social media followers, Sponge holds the potential for explosive and sustainable growth if the community maintains its current momentum. It presents appealing opportunities for investors venturing into the meme coin market.
4. XRP (XRP)
Established in 2012, XRP aims to revolutionize global transactions with its real-time settlement system and remittance network. Ripple, its parent company, holds most of the XRP tokens, driving its development. The XRP Ledger Consensus Protocol ensures secure and rapid transactions without needing Proof-of-Work or Proof-of-Stake mechanisms. It’s designed for fast cross-border transactions, challenging traditional systems like SWIFT.
XRP’s current price is $0.579579, with a 4.26% surge in the last 24 hours. Over the past year, it’s seen a 54% increase, outperforming 54% of the top 100 crypto assets. Trading 3.33% above the 200-day SMA at $0.560409 indicates a bullish sentiment. The 14-day RSI at 60.03 suggests neutrality, with 63% positive trading days in the last month. It showcases high liquidity with a 30-day volatility of 4% and a volume-to-market cap ratio of 0.1267.
Ripple, the force behind XRP, has recently joined hands with the Axelar Foundation in a groundbreaking partnership to expand the XRP Ledger’s (XRPL) horizons. This collaboration isn’t just about shaking hands but revolutionizing how we perceive and utilize blockchain technology.
This collaboration with @Axl_Foundation will enhance the XRPL's interoperability by extending it to a wider network of blockchains while complementing the #XRPL's feature set and opening new opportunities to broaden reach and utility. 🤝 https://t.co/zI8TcXzisH
— RippleX (@RippleXDev) February 27, 2024
With the integration of Axelar’s cutting-edge protocol, XRPL developers gain access to a network spanning over 55 blockchains. This means that transactions can occur faster than the blink of an eye and securely across a vast digital space. Real-world assets, from real estate to commodities, are about to transform. The XRPL, already renowned for its speed and efficiency in cross-border transactions, is about to level up.
5. Polkadot (DOT)
Polkadot, a sharded multichain protocol, fosters cross-chain connectivity among diverse blockchains, enabling seamless data and asset transfer. As a layer-0 metaprotocol, it facilitates decentralized internet infrastructures. Its core components include the Relay Chain, Parachains, Parathreads, and Bridges, ensuring consensus, scalability, and interoperability. Polkadot’s native token, DOT, powers staking, governance, and parachain bonding.
Polkadot is developed using the Substrate framework, allowing swift blockchain creation and integration. Its user-driven governance system ensures community involvement in network operations. Polkadot’s Parachain auctions marked a milestone, with projects like Acala and Moonbeam securing slots.
With a current price of $8.26, Polkadot has seen a 26% increase over the past year and outperformed 43% of the top 100 crypto assets. It trades 30.33% above the 200-day SMA, indicating positive market sentiment. With a 14-day RSI of 40.19, it shows neutrality, while its 30-day volatility stands at 6%, depicting stability. High liquidity, with a volume-to-market cap ratio of 0.0912, underscores its market presence.
✨ Dive into this week’s #PolkadotRoundup and unpack the latest developments from around the ecosystem, from DeFi to new wallet features and more. pic.twitter.com/dxmd4HUkrS
— Polkadot (@Polkadot) February 27, 2024
Now that we have thoroughly analyzed each of the four top gainers for the day let us peep into the happenings in the market. MicroStrategy’s recent purchase of 3,000 Bitcoins for $155.4 million propelled its total holdings to 193,000, valued at over $11 billion. With shares up 15.86% post-disclosure, it marks a significant milestone in the company’s history.
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