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Jerome Powell’s testimony on July 9, 2024, captivated investors and analysts amidst economic uncertainties and market volatility. The Federal Reserve Chairman’s remarks were pivotal as financial markets sought clarity on the Fed’s monetary policy stance, especially concerning potential interest rate cuts.
Bitcoin’s stability near a five-month low during Powell’s testimony underscored its sensitivity to macroeconomic factors, driven largely by the Fed’s decisions. Changes in monetary policy often prompt reactions in the cryptocurrency market as investors gauge their impact on inflation, the dollar’s strength, and alternative assets like Bitcoin. Powell’s comments and subsequent Fed actions will continue shaping investor sentiment across asset classes, including cryptocurrencies.
Biggest Crypto Gainers Today – Top List
In this insightful overview of today’s top crypto gainers, we delve into four standout tokens showing impressive performance potential for investors. Sui Crypto leads with rapid transactions under two seconds and a high throughput of over 297,000 transactions per second, marking a 10.94% increase. Meanwhile, Polkastarter faces uncertainty with its impending delisting announcement, yet it manages a solid 10.36% growth. Fantom secures a significant legal victory, receiving $2.2 million in compensation and advancing 9.97% to $0.489536, demonstrating resilience against cyber threats. Siacoin completes the winners’ circle, showing strong performance with an 8.35% rise to $0.004478 amidst market fluctuations.
1. Sui Crypto (SUI)
Sui Crypto is leading the list of top gainers with its unique layer-1 platform. Designed for global adoption, Sui combines a secure, scalable development environment with a user-friendly experience. Using its innovative object-centric data model and the Move programming language, Sui eliminates common blockchain barriers through features like zkLogin, sponsored transactions, and programmable transaction blocks.
Thanks to horizontal scaling and parallel execution, Sui offers lightning-fast, low-latency transactions and stable fees. Its unique object-oriented design enhances both composability and safety. Secured by a delegated proof of stake (PoS) mechanism, Sui employs Narwhal and Bullshark protocols to finalize transactions in under half a second. Impressively, it can handle over 297,000 transactions per second in testing.
⚡The results are in: Sui has the largest and fastest-growing #Move developer community, according to the latest @ElectricalCapital developer data! 🎉
Since the last update in January, Sui has seen explosive developer growth according to EC data:
➕219% monthly active devs… https://t.co/s7Mzn9Ojzf— Sui (@SuiNetwork) July 9, 2024
SUI has outperformed other gainers in the short term with a 10.94% increase over the past 24 hours, bringing its price to $0.755046. SUI’s strong performance is further underscored by its trading 29.08% above its 200-day Simple Moving Average (SMA) of $0.583722, suggesting bullish momentum. The liquidity is high, with a 0.2297 volume-to-market-cap ratio, supported by a market cap of $1.76B and a 24-hour volume of $404.86M. The Relative Strength Index (RSI) of 48.87 indicates a neutral trend, and with 12 green days in the past 30 (40%), it has shown better consistency than POLS. Over the past year, SUI’s 13% growth surpasses POLS but still lags behind SC and FTM in terms of performance.
2. Polkastarter (POLS)
Polkastarter (POLS) is a decentralized fundraising platform enabling Web3 projects to launch and raise funds through multi-chain token pools across Ethereum, BNB Chain, Solana, Polkadot, Polygon, Avalanche, and Celo. It facilitates early investor access to IDOs, NFTs, and gaming innovations, supporting early-stage blockchain projects in capital raising and token distribution. POLS, its native utility token, provides access to pools and priority project participation for holders, encouraging stakeholder loyalty.
In recent developments, Binance announced the delisting of POLS along with other altcoins effective July 22, 2024. This will affect deposit and withdrawal services starting from specific dates. Users are advised to manage their positions accordingly to mitigate potential losses. These changes could impact POLS’s market dynamics, but let’s see how its market is now.
POLS has seen a noteworthy price surge of 10.36% in the last 24 hours, reaching $0.342409. Despite this rise, it remains 7.62% below its 200-day SMA of $0.368578, indicating some bearish sentiment over the longer term. With high liquidity, demonstrated by a 0.6917 volume-to-market-cap ratio, POLS shows robust trading activity.
There is a lot of noise in the space right now but we are focused and working diligently to implement our vision for the future of Polkastarter.
We shared this update during the week, you might like to check it out 👇https://t.co/S1dzS0h4eE
— Polkastarter (@polkastarter) July 6, 2024
The RSI at 61.21 suggests a neutral market sentiment, implying potential sideways trading. Over the past month, POLS had 10 positive trading days out of 30, equating to 33%. When compared to other gainers like SUI and SC, POLS’s lower percentage of positive days and modest annual growth of 4% highlight its relatively conservative performance.
3. Pepe Unchained (PEPU)
Pepe Unchained continues to exceed expectations, raising over $3 million in presale funds. This rapid growth comes as the broader crypto market remains cautious, highlighting $ PEPU’s unique appeal. Currently priced at $0.0083591, the $PEPU price will soon increase in the next presale stage, making now the perfect time to secure your stake.
Congratulations to the early joiners who secured Pepe Unchained at the perfect time 🥂
Join now before the next stage begins! pic.twitter.com/ykaW2rAwho
— Pepe Unchained (@pepe_unchained) July 3, 2024
Pepe Unchained’s innovation lies in its own Layer 2 chain, which allows for lower gas fees and faster transactions. This infrastructure boosts $ PEPU’s potential, transforming it from a single token into a platform for a new ecosystem, including DeFi, NFTs, other meme coins, and AI-related tokens. The increased functionality and reduced costs make $PEPU an attractive option for investors looking for innovative crypto solutions.
Investors are particularly excited about Pepe Unchained’s staking rewards, which offer substantial returns. With an APY currently at 688%, early contributors can enjoy a solid monthly return of approximately 57%. A total of 2.4 billion $PEPU tokens are designated for staking rewards over two years, with 232 million tokens already locked in.
The presale is selling fast, with over 384 million $PEPU tokens sold in just three weeks. Interested buyers can join the presale on the Pepe Unchained website using ETH, USDT, BNB, or credit cards. Rigorously audited by Coinsult and SolidProof, $PEPU ensures top-notch security for investors. Don’t miss your chance to get in on the action before the market resumes its bull trend.
4. Fantom (FTM)
Fantom is a decentralized smart contract platform that utilizes a Directed Acyclic Graph (DAG) and the Lachesis consensus algorithm. Its goal is to boost transaction speed, achieving finality in under two seconds. Additionally, Fantom supports a broad array of decentralized applications (DApps) and digital assets through its native token, FTM. FTM plays a crucial role in powering transactions, network fees, staking, and governance within the ecosystem.
In recent developments, a Singaporean high court ruled in favour of Fantom Foundation in a legal dispute against Multichain Foundation. The court ordered Multichain to compensate Fantom Foundation with $2.2 million for losses incurred during a hack in 2023. The ruling underscores Fantom’s commitment to blockchain security and accountability, ensuring restitution for stakeholders affected by cyber incidents.
In light of this news, FTM stands out with a 9.97% increase over the last 24 hours, reaching $0.489536. Its liquidity is strong, evidenced by a 0.3077 volume-to-market-cap ratio, a market cap of $1.37B, and a 24-hour volume of $423.04M. The RSI of 61.03 indicates a neutral sentiment similar to POLS, but FTM’s 14 green days in the past 30 (47%) suggest a more consistent upward trend. Trading 16.76% above its 200-day SMA of $0.42001, FTM is in a bullish phase. Its impressive 78% annual growth far exceeds that of POLS, SUI, and SC, making it the strongest performer among the gainers analyzed.
5. Siacoin (SC)
Siacoin, the last top gainer, functions as the native utility token for Sia, a decentralized cloud storage platform. It aims to disrupt traditional storage solutions by offering secure and competitive storage rates. Users lease their unused storage space on the Sia network in a trustless manner, facilitated by smart contracts that ensure agreements between renters and hosts. SC is used as the medium of exchange for transactions within the Sia ecosystem, with hosts required to lock SC in smart contracts as collateral.
The security of the Siacoin network is maintained through a proof-of-work (PoW) consensus algorithm. Hosts in the Sia network also commit collateral, reducing incentives for malicious behaviour. Moreover, data stored on Sia is divided into 30 encrypted segments distributed across multiple hosts globally, ensuring redundancy and resilience against network attacks or failures.
👥 Future Focus:
– Reduce onboarding friction for developers, consumers, and enterprises.
– Lighter worker agents.
– Better scalability.
– More accessible SDKs.
– Products tailored for regular consumers.— Sia Foundation (@Sia__Foundation) June 27, 2024
SC, priced at $0.004478, saw an 8.35% surge in the last 24 hours. It boasts a high liquidity ratio of 0.0368, with a market cap of $252.78M and a 24-hour volume of $9.31M. Its RSI of 43.26 suggests a neutral market sentiment while having 13 green days in the past 30 (43%) shows better short-term performance compared to POLS and SUI. However, SC is trading 42.51% below its 200-day SMA of $0.007676, indicating a bearish trend. With a 29% price increase over the past year, SC has outperformed both POLS and SUI, showcasing its resilience despite higher volatility.
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