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This week, the crypto market surged as investors embraced higher-risk assets, buoyed by a surprising dip in inflation figures ahead of earnings season. These gains reflect a broader trend where crypto valuations often mimic those of growth stocks, responding positively to economic indicators like lower inflation, which hint at potential interest rate cuts by the Federal Reserve.
Beyond speculative trading, developments in utility and infrastructure upgrades also contributed to the market’s optimism. For instance, initiatives to enhance operational stability and expand treasury options were noted. However, amidst these gains, political sentiments continue to sway the market, with crypto’s regulatory future becoming a focal point in both legislative and electoral space. As smaller tokens amplify market movements, this week’s gains underscore both the potential and volatility inherent in cryptocurrency investments, reminding investors of the sector’s dynamic nature.
Biggest Crypto Gainers Today – Top List
Today’s unique selection of top crypto gainers includes Immutable X, Flux, Astar Network, and Akash Network, each showing remarkable growth and unique strengths. Immutable X leads with a 10.14% surge, driven by its innovative layer-two scaling solution for NFTs on Ethereum, offering instant trading, zero gas fees, and robust security through zk-rollups. Flux follows with a 6.75% increase, transforming Web3 infrastructure with its fully decentralized ecosystem and interoperability features.
With a 7.11% rise, Astar Network excels in connecting Polkadot with Ethereum and Cosmos, providing a versatile hub for DeFi, NFTs, and DAOs. Also, with a 6.71% climb, Akash Network reshapes cloud computing through its decentralized marketplace, leveraging blockchain technology for high speed, efficiency, and affordability. Each of these projects shows impressive short-term gains and strong potential for long-term growth and stability worthy of examination.
1. Immutable X (IMX)
The first top gainer, Immutable X, disrupts NFTs with its layer-two scaling solution on Ethereum. It tackles Ethereum’s limitations like low scalability, poor user experience, and high gas fees. Immutable X offers instant trading and massive scalability with zero gas fees for minting and trading NFTs. The platform supports ERC-20 and ERC-721 tokens, making it versatile for various applications. With zk-rollups and a promised transaction speed of over 9,000 tps, Immutable X is poised to become the go-to blockchain for NFTs.
Security is a cornerstone of Immutable X. Utilizing Ethereum’s blockchain ensures decentralized and trustless asset ownership. The platform employs zk-rollups, where assets are traded on the second layer, but validity proofs are stored on Ethereum. This integration guarantees high security without the risk of a 51% attack.
Furthermore, recent partnerships with Seamoon Protocol and QAQA highlight its expansion into the Asian market. These collaborations aim to merge web2 and web3 communities, accelerating the adoption of blockchain gaming globally.
Immutable 🤝 @SeamoonProtocol 🤝 @qaqa_en
We are partnering with prominent Asian companies, Seamoon Protocol and QAQA, to expand in the Asian market, renowned for its gaming communities and swift technological adoption.@SeamoonProtocol is part of DMM Group, one of Japan's… pic.twitter.com/YhUnzi0k67
— Immutable (@Immutable) July 10, 2024
IMX’s impressive 10.14% surge in the last 24 hours has caught the attention of investors, particularly with its high liquidity marked by a volume-to-market cap ratio of 0.0373. This layer-2 solution for NFTs boasts a 47% green of the last 30 trading days and a year-long price increase of 75%. Its low 30-day volatility at 11% further underscores its stability, making it an attractive option compared to other top gainers.
2. Flux (FLUX)
Flux is transforming Web3 by creating a fully decentralized infrastructure with no single point of failure and ensuring 100% uptime. Unlike projects that claim to be “Web3” but rely on centralized systems, Flux’s ecosystem is genuinely decentralized. It includes a native minable Proof-of-Work cryptocurrency, a decentralized computational network (FluxNodes), a Linux-based operating system (FluxOS), and the premier digital asset platform (Zelcore). Flux’s Proof of Useful Work (PoUW) uses GPU miners’ computational power to solve real-world problems like video encoding and machine learning. This addresses sustainability issues and transforms both crypto and traditional industries.
Flux extends its capabilities through parallel assets, which act as token bridges, allowing seamless movement between blockchains. This interoperability enables applications to access necessary infrastructure while maintaining unique blockchains. FluxOS enhances this by allowing developers to run any application on any blockchain. Parallel assets also provide arbitrage trading opportunities, enabling quick Zelcore wallet swaps. With nearly 15,000 decentralized nodes and partnerships with Lumen Technologies and OVHcloud, Flux bridges the gap between legacy infrastructure and Web3.
FluxEdge has the power to analyze large datasets with applications like #Jupyter Notebooks! 💪
In this use case, 112,120 chest X-rays were processed with NVIDIA's RTX 5000 Ada 32GB — perfect for large-scale medical data. #MedicalAI #BigData
Learn more 👇 https://t.co/hqcOtuTm1Y
— Flux-Web3 Cloud (@RunOnFlux) July 10, 2024
Flux’s 6.75% price increase over the past day highlights its growing appeal, supported by a solid liquidity ratio of 0.0340. Interestingly, it matches Immutable X with 50% of the last 30 trading days being positive, yet it trades above its 200-day SMA by 35.28%. Although its annual growth of 36% is more modest, its lower 30-day volatility at 12% and neutral RSI of 59.63 suggest a stable yet promising investment opportunity.
3. PlayDoge (PLAY)
Two more top gainers to go, but before we continue, let’s pause for a glance at today’s standout presale success in the market. PlayDoge bridges the past and future by merging classic 90s games with innovative cryptocurrency mechanisms. Its standout feature is a unique P2E mobile game reminiscent of the beloved 90s Tamagotchi pets, reimagined in a blockchain context. This captivating storyline, set in 2024, where Doges vanish and are found in an 8-bit game, promises a nostalgic yet innovative gaming experience, offering substantial Play-to-Earn rewards.
PlayDoge aims to significantly impact the Play2Earn market with its new mobile game release. Players will engage in familiar activities, caring for their virtual pets and earning $PLAY tokens through blockchain technology.
The game introduces competitive elements with a leaderboard system and experience points, enhancing player engagement and community building. PlayDoge’s tokenomics are meticulously structured, with 50% of the 9.4 billion $PLAY tokens allocated for the presale, ensuring early supporters receive substantial rewards.
The presale has already raised over $5.6 million, structured into 40 phases with incremental price increases, making early participation highly attractive. Additionally, 12% of the token supply is designated for staking, promoting long-term commitment and price stability. With a detailed token distribution strategy, PlayDoge is set to attract savvy investors and gaming enthusiasts alike.
4. Astar Network (ASTR)
Astar Network empowers developers to create decentralized applications (dApps) and layer two solutions. It offers Web 3.0 infrastructure, financial incentives, and robust technical support. By connecting Polkadot with Ethereum and Cosmos, Astar enables seamless blockchain integration. The project supports DeFi, NFTs, and DAOs, making it a versatile multi-chain dApp hub. With its innovative, scalable platform, Astar aims to revolutionize smart contracts.
Binance recently included Astar in its Simple Earn Locked Products, offering high returns. From July 11, 2024, to October 11, 2024, investors can earn up to 19.9% APR. Subscription periods are 30 days (7.9% APR), 60 days (10.9% APR), and 120 days (19.9% APR). Daily rewards enhance investment growth. To join, navigate to Binance’s Earn section and select ASTR. This opportunity promises steady returns and easy participation.
🎉 Introducing a staking campaign with @binance!
Stake $ASTR from the Binance Exchange and earn a boost. It's then staked on the Community Treasury on dApp Staking, directly supporting our community and builders!
⌛️ First-come, first-served!
Learn more: https://t.co/VkEry1q2XE https://t.co/ZGptlL3fxH pic.twitter.com/YLOQWjFRZg
— Astar Network (@AstarNetwork) July 11, 2024
Looking at its price movement, Astar has seen a 7.11% price increase in the last 24 hours, bolstered by its high liquidity ratio of 0.0891. With a market cap of $395.65 million and a 24-hour trading volume of $35.27 million, Astar stands out with a balance of liquidity and growth potential. It shares a 47% rate of positive trading days over the last 30 days with Immutable X and Akash Network, while its 8% volatility highlights its relative stability. Trading 22.03% above its 200-day SMA and boasting a 51% price increase over the past year, Astar is a compelling choice for investors looking for steady growth.
5. Akash Network (AKT)
Akash Network is reshaping cloud computing with its open-source, decentralized marketplace for computing resources. Utilizing blockchain technology, Akash offers high speed, efficiency, and affordability, challenging traditional cloud services. The platform allows buying and selling computing power for various applications, from hosting websites to running complex computations.
Powered by its native token, AKT, for transactions, staking, and governance, the network incentivizes participation and ensures security. Key features include Infrastructure as Code (IaC) support, integration with Kubernetes, automated deployment and management of infrastructure, persistent storage solutions, and dedicated IP leasing.
Security is a cornerstone of Akash Network, employing a multifaceted approach. Built on a Layer One Protocol using the Cosmos SDK, it ensures high performance and interoperability with other blockchains. The Delegated Proof-of-Stake (DPoS) consensus mechanism enhances security and reduces centralization risks by allowing token holders to elect validators. Encryption, auditable smart contracts, and privacy-focused features like anonymous application deployment and non-custodial staking services ensure network integrity.
Prime Intellect has integrated the Akash Supercloud into its new compute platform.
Now, AI developers can access high-performance GPUs from Akash's permissionless marketplace, including NVIDIA H100 as low as $1.65/hour, directly through @PrimeIntellect. https://t.co/YGlhsaphK2 pic.twitter.com/mcFjdSq5rD
— Akash Network (@akashnet_) July 1, 2024
AKT’s 6.71% price rise in the last 24 hours reflects its strong market dynamics, further emphasized by a liquidity ratio of 0.0360. It has a unique edge, trading 242.24% above its 200-day SMA and an astonishing 512% price increase over the past year, outperforming 95% of the top 100 crypto assets. Despite sharing a 47% rate of positive trading days with others like Immutable X and Astar, its standout annual growth and stability with just 8% volatility make it an exceptionally lucrative investment.
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