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Marathon Digital Holdings recently made waves by purchasing $100 million in Bitcoin, signaling a major shift back to holding all mined Bitcoin on its balance sheet. After selling its Bitcoin to cover operating costs during the bear market, Marathon is now embracing Bitcoin’s resurgence. With Bitcoin up 51% this year and currently valued at around $64,000, the company’s move reveals growing institutional confidence.
This strategic pivot highlights Bitcoin’s recovery and could influence other leading tokens in the market. Consequently, Marathon’s decision reflects broader optimism and may signal positive changes in the crypto market. As Bitcoin continues to rise, Marathon’s bold approach may set a new trend for institutional investment.
Biggest Crypto Gainers Today – Top List
Today, the crypto market witnessed impressive gains, with UMA, Aave, Azuro Protocol, and Pendle standing out. UMA surged 17.16% to $2.54, driven by its innovative, Optimistic Oracle model, which supports real-time data verification. Meanwhile, Aave saw a 14.95% increase to $102.05, buoyed by a proposed fee switch and token buyback plan.
Azuro Protocol’s token rose 11.02% to $0.193946 as it transformed betting through blockchain technology despite its higher volatility. Finally, Pendle’s token climbed 10.68% to $4.01, benefiting from its unique approach to yield tokenization and robust performance. Let’s get the scoop on how these top gainers are driving industry change and what this could mean for your portfolio.
1. UMA (UMA)
UMA is an Optimistic Oracle (OO), a powerful Web3 tool designed to record and verify blockchain data. Unlike traditional models, it operates on a “true unless disputed” principle, meaning data is accepted unless contested. This approach, developed in 2014, supports various Web3 applications. Consequently, it enhances cross-chain bridges, prediction markets, and DAO tooling by incorporating human judgment into data verification.
As of late, UMA’s impact has been evident in the prediction market space, particularly through its support of Polymarket. This platform’s growth in 2024 emphasizes UMA’s oracle’s ability to deliver real-time insights. As prediction markets gain traction, UMA’s OO proves crucial for validating and settling these markets. Thus, it highlights the evolving role of optimistic oracles in transforming how we access and interpret information.
In 2024, @polymarket has become more than just a prediction market platform.
It’s now a tool for predicting real-world outcomes, often more reliable than mainstream media and polls.
As popularity increases, prediction markets are becoming real-time sentiment trackers. 🧵 pic.twitter.com/iAH7GlvPQC
— UMA 🥚 (@UMAprotocol) July 24, 2024
UMA shines brightly, showcasing strong performance compared to peers, with its price skyrocketing 17.16% to $2.54. This surge, fueled by a high liquidity ratio of 0.5917, stands out compared to AAVE and PENDLE. Its impressive growth is bolstered by a 30-day volatility of just 9%, suggesting stability amidst its upward momentum.
UMA’s RSI of 58.11 indicates a neutral trend, similar to Aave’s RSI of 60.18. However, its price is trading 47.54% above its 200-day SMA of $1.71204. Over the past year, UMA has increased by 61%, outpacing Aave but falling short of Pendle’s extraordinary gain. Furthermore, it has surpassed 47% of the top 100 crypto assets, positioning it favorably among its rivals.
2. Aave (AAVE)
Aave is a leading DeFi platform that facilitates cryptocurrency borrowing and lending through smart contracts. Specializing in overcollateralized loans, it ensures users deposit crypto worth more than the amount they wish to borrow. This safeguards lenders against potential defaults. Aave also offers Flash Loans for arbitrage and liquidity pools where users earn interest on deposits. However, users must be cautious of risks such as collateral liquidation, lack of insurance, crypto volatility, and potential liquidity shortages.
Recently, Aave has been making news in the crypto community. A proposal to activate a fee switch and initiate a token buyback from the open market is in the spotlight. If passed, this initiative, spearheaded by Aave-Chan Initiative founder Mark Zeller, could generate approximately $60 million annually for AAVE holders. This development shows Aave’s ongoing success as a premier DeFi lending protocol.
— Aave Labs (@aave) July 24, 2024
Amidst these exciting developments, Aave’s recent price movement underscores its strong market presence. The cryptocurrency saw a notable 14.95% surge in the last 24 hours, bringing its current price to $102.05. This uptick is supported by a high liquidity ratio of 0.4305, which reflects robust trading activity. With an RSI of 60.18, Aave remains in a neutral zone, suggesting that while the current bullish trend is significant, the price may stabilize in the short term. Notably, Aave is trading 30.75% above its 200-day SMA of $78.04, highlighting its sustained upward trajectory.
3. Base Dawgz (DAWGZ)
Base Dawgz is generating buzz with its impressive presale, raising over $2.7 million. This meme coin is grabbing attention not just for its early success but for its unique multi-chain functionality. Unlike many meme coins limited to a single blockchain, Base Dawgz operates across Base, Ethereum, Solana, Binance Smart Chain, and Avalanche. This versatility makes it stand out in the crowded crypto space and fuels speculation about its potential to be the next big X100 meme coin.
$2.7 MILLION$DAWGZ just keeps pushing and we don't let up 💪 pic.twitter.com/200LaSt3v0
— Base Dawgz (@BaseDawgz) July 26, 2024
Additionally, the project has captured interest through its innovative features and community-focused approach. It uses “Wormhole and Portal Bridge” technology, enhancing its trading flexibility. Early backers benefit from high staking rewards, with over 180 million DAWGZ tokens staked and annual yields surpassing 1,100%. Furthermore, Base Dawgz promotes community engagement through social rewards, encouraging users to share content and earn additional tokens. This strategy has already helped the project build a significant following and achieve substantial presale milestones.
Base Dawgz’s multi-chain capability and faster transaction speeds on the Base Chain provide greater flexibility and efficiency. For investors seeking a meme coin with cutting-edge technology and strong community support, Base Dawgz represents a compelling alternative. With its promising presale performance and strategic vision, Base Dawgz might just be the next big player in the meme coin arena.
4. Azuro Protocol (AZUR)
Azuro Protocol reshapes betting by eliminating intermediaries through its blockchain-based platform. By leveraging smart contracts, Azuro guarantees that every transaction is both fair and efficient. As a result, users can engage in various betting activities through user-friendly apps and websites integrated with Azuro’s infrastructure. Bettors benefit from transparency, while liquidity providers fund payouts and earn from the bet-to-payout difference. Meanwhile, data providers ensure the odds are fair and attractive by using reliable sources.
Moreover, Azuro’s Decentralized Autonomous Organization (DAO) empowers $AZUR token holders to make key decisions, fostering a community-driven approach. The platform’s betting engines handle all technical aspects, from accepting bets to calculating wins. Furthermore, unique features like the Liquidity Tree ensure stable funding and timely payouts. Azuro stands out by combining blockchain technology with betting, setting new standards for transparency and security.
Stake now to get from 22% APY and higher via ZEM
The AZUR staking rewards are generated via the Azuro Zero Emissions Model (ZEM).
They are not derived from net new token emissions. pic.twitter.com/X0HAgGfCpC
— azuro (@azuroprotocol) July 24, 2024
The AZUR token surged 11.02% to $0.193946 in the last 24 hours, reflecting heightened investor interest. In contrast to more established tokens like UMA and AAVE, AZUR has a lower liquidity ratio of 0.0434. However, its 30-day volatility stands at 34%, indicating a more dynamic market presence. As a newer entrant, AZUR’s performance will be crucial in demonstrating its potential, especially with unique features like the Liquidity Tree setting new benchmarks in decentralized betting.
5. Pendle (PENDLE)
Pendle distinguishes itself in the DeFi world by tokenizing future yield. This feature allows users to sell their future yield for immediate liquidity or speculate on potential returns. Consequently, it offers new strategies for yield optimization and suits various risk tolerances. Additionally, Pendle’s unique automated market maker (AMM) for time-decaying assets improves how users handle yield-bearing assets.
Moreover, Pendle’s security framework is robust, featuring thorough audits and a transparent, open-source codebase. This ensures the safety of user funds. Furthermore, Pendle supports staking, yield farming, governance, and liquidity provision, offering diverse ways to participate and earn. As Pendle continues to innovate, it holds potential for growth in the DeFi sector. Nevertheless, investors should weigh the associated risks and conduct careful research to align with their financial goals and risk tolerance.
Don't judge a pool by its liquidity.
"That pool's too small"
Mayhaps. But backed with an army of LIMIT ORDERS, it may just be able to absorb your size size. Comfortably too.
Here are some PT Fixed Yields to go shopping for on @pendle_fi, WITH SIZE 🍆👍🏻 pic.twitter.com/gcXWk4m2Xn
— Pendle Intern (@PendleIntern) July 24, 2024
Over the past 24 hours, the PENDLE token surged 10.68% to $4.01, signaling growing market interest. This uptick contrasts with the higher volatility seen in tokens like AZUR, as it maintains a more moderate 30-day volatility of 14%. Furthermore, with a strong liquidity ratio of 0.3261, it provides a stable trading environment. Notably, the top gainer is trading 416.54% above its 200-day SMA of $0.778006, illustrating its impressive performance. Additionally, PENDLE has experienced a remarkable 398% increase over the past year. This significant growth displays this project’s innovative yield tokenization approach and its potential for continued advancement in the DeFi space.
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