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Amidst a turbulent week for cryptocurrencies, Bitcoin plunged to $65,100. Altcoins such as Ethereum, Solana, Avalanche, Cardano, and Near also experienced substantial losses ranging from 10% to 20%. The market downturn has been exacerbated by over $870 million in liquidations. It reflects a reversal from earlier optimism, fueled by easing inflation data and economic projections.
Despite initial hopes for new highs, Bitcoin’s struggle to break out amid global economic uncertainties underscores a challenging period for crypto investors. Meanwhile, amidst the volatility, there remains promise as we examine today’s top gainers in the market to discern potential opportunities.
Biggest Crypto Gainers Today – Top List
Today’s article analyzes the remarkable performance of Rocket Pool, Ethereum Name Service, SafePal, and Axelar, which have emerged as top gainers in the cryptocurrency market. Rocket Pool offers decentralized Ethereum staking with significant APR opportunities, while Ethereum Name Service simplifies blockchain interactions with its naming system.
SafePal stands out with its secure wallet solutions and robust hardware wallet, which appeal to millions worldwide. Axelar facilitates seamless cross-chain communication, enhancing interoperability across decentralized applications. These projects’ impressive price surges underscore their growing influence and investor appeal in the dynamic crypto market.
1. Rocket Pool (RPL)
Rocket Pool is a decentralized Ethereum staking pool, providing up to 4.33% APR for ETH2 staking. Users can join the Rocket Pool’s decentralized node network or set up their nodes with just 16 ETH. By running their nodes, they can earn commissions from staking ETH and receive extra RPL rewards. This setup allows up to 6.36% APR for ETH and the additional RPL rewards.
Rocket Pool provides liquid staking, meaning users benefit from an increasing exchange rate without triggering taxable events. It also offers smart nodes, a custom node software that allows anyone to run a node. Losses from bad nodes are distributed across the network, minimizing individual risk.
Users can stake with 0.01 ETH and receive rETH, a tokenized version of their staked ETH. rETH automatically accrues staking rewards and is protected against slashing through insurance mechanisms. Also, open-source and audited smart contracts ensure fully non-custodial staking and a high degree of decentralization.
The Smartnode has been updated to v1.11.2
The latest version is recommended for node operators using Geth, Teku, Lodestar, and Nethermind
Please review the changes carefully before upgrading: https://t.co/0wiwtW3SES pic.twitter.com/qM6yX04vUX
— Rocket Pool (@Rocket_Pool) December 19, 2023
Rocket Pool’s current price is $24.30, with a 22.40% increase in the last 24 hours. However, over the past year, the price has decreased by 39%, underperforming 98% of the top 100 crypto assets. Also, it is trading 15.62% below the 200-day SMA of $28.87. With a 14-day RSI of 44.22, the cryptocurrency is neutral. Nonetheless, RPL has high liquidity, with a market cap of $496.16M and a 24-hour volume of $239.05M.
2. Ethereum Name Service (ENS)
Ethereum Name Service is a decentralized, open, and scalable naming system built on the Ethereum blockchain. ENS converts human-readable Ethereum addresses like “jane.eth” into machine-readable codes used by wallets like Metamask. It also allows the reverse conversion, linking metadata and machine-readable addresses with human-readable Ethereum addresses.
ENS aims to make the Ethereum-based web easier to use, similar to how DNS makes the internet more accessible. It uses hierarchical dot-separated names called domains. Domain owners have complete control over their subdomains.
ENS is unique as it is the first service to transfer DNS to the decentralized Web3. It is an open-source project, not a company, and functions as a public utility. Built on two smart contracts, ENS maintains a registry of domains and resolves machine-readable addresses to domain names. ENS leverages blockchain technology to be more secure and censorship-resistant, avoiding a single point of failure.
This week in the ENS ecosystem 🧵 pic.twitter.com/jV1aqdEkkK
— ens.eth (@ensdomains) June 14, 2024
The current price of ENS is $22.74, up 10.60% in the last 24 hours. Over the past year, its price increased by 208%, surpassing 69% of the top 100 crypto assets. It trades 152.33% above its 200-day SMA of $8.99. The 14-day RSI is 40.88, indicating neutrality. ENS had 14 positive trading days in the last 30, with a 30-day volatility of 18%. It has a high liquidity ratio of 0.5953, with a market cap of $713.95M and a 24-hour volume of $424.99M.
3. Base Dawgz (DAWGZ)
Base Dawgz has burst onto the scene with its innovative Refer2Earn mechanism, quickly raising over $1M in its first seven days. It brings beloved meme characters into thrilling base-jumping adventures, enabling seamless asset transfers between major blockchains like Ethereum, Solana, Avalanche, and Binance Smart Chain. Plus, $DAWGZ offers a unique share-to-earn feature, where holders earn more tokens by sharing social media content and referring friends.
The project’s rapid popularity is evident, boasting over 3,000 followers on X (formerly Twitter) and 1,500 subscribers on Telegram. The roadmap reveals a strategic plan, beginning with laying a solid foundation during the presale. The current phase focuses on expanding the community, while future phases promise exchange listings and incentive programs to drive participation and rewards.
Base Dawgz’s tokenomics are designed for impact, with a total supply of 8,453,000,000 tokens. During the presale, 20% of tokens are available, with prices gradually increasing to reward early investors. Another 20% is set aside for staking and 20% for liquidity. The remaining 40% is allocated to marketing (15%), community rewards (15%), and listings (10%). With $DAWGZ tokens still affordable at 0.00502 USD, early participation is a smart move.
4. SafePal (SFP)
SafePal is a cryptocurrency wallet launched in 2018 to secure and enhance users’ digital assets. It offers both hardware and software wallets managed through the SafePal App. SafePal supports various crypto assets, including tokens on Ethereum, Binance Smart Chain (BSC), and TRON. With over 3,000,000 users in 196 countries, SafePal allows users to store, manage, swap, trade, and grow their portfolios securely.
SafePal offers the SafePal App, Software Wallet, and S1 Hardware Wallet. The S1 is an offline device with robust security features that support 30+ blockchains and 10,000+ cryptocurrencies. SafePal Cypher is a metal seed phrase board that protects against environmental damage.
The native token, SFP, offers discounts user incentives, and serves as a governance token. SFP utility includes discounts on products, listing fees for DApps and tokens, and staking for extra interest and gas fee tokens.
New @iSafePal App Version V4.7.0 is LIVE!
🔹Added Web3 News Feature
🔹Added support for @taikoxyzDL @iSafePal Wallet App : https://t.co/1b9tbSOOvD https://t.co/UKKndJF86h pic.twitter.com/lXNdrgD2rS
— SafePal – Crypto Wallet (@iSafePal) June 14, 2024
Regarding market performance, SFP’s value is $0.791012, reflecting a 7.05% increase in the last 24 hours. Over the past year, the price increased by 121%, besting 52% of the top 100 crypto assets. SafePal is trading 35.65% above its 200-day SMA of $0.583112, with a 14-day RSI of 56.59, indicating neutrality. Furthermore, in the last 30 days, the positivity rate was 47%, with a 30-day volatility of 3%. It also has high liquidity with a 0.0630 volume-to-market cap ratio.
5. Axelar (AXL)
Axelar is designed to enable secure cross-chain communication for Web3 applications. It provides developers with robust tools, including a protocol suite, APIs, and gateway smart contracts, to facilitate seamless interactions across blockchains. A decentralized network of validators powers the network and operates on a proof-of-stake (PoS) consensus mechanism. This ensures secure and efficient cross-chain transactions.
In exciting news, RippleX, the development arm of Ripple Labs, has updated the XRPL EVM sidechain. This enhances interoperability by enabling compatibility between the Ethereum Virtual Machine (EVM) and the XRP Ledger (XRPL). Axelar plays a key role by facilitating a bridge that uses wrapped XRP (eXRP) as the native asset and gas token. This bridge ensures smooth asset transfers between XRPL and the EVM sidechain, streamlining user interactions.
The AXL token is native to the Axelar network, supporting its internal operations. It also facilitates the cross-chain transfer of tokens like AVAX, ETH, FTM, GLMR, and MATIC through their wrapped ERC-20 versions.
Ripple to use Axelar as bridge protocol for EVM sidechain https://t.co/LZ2UCfunQH
— The Block (@TheBlock__) June 12, 2024
AXL’s price currently stands at $0.763687, reflecting a 3.60% increase in the last 24 hours. Over the past year, it has surged by an impressive 98%, outpacing 48% of the top 100 crypto assets. Trading 59.80% above its 200-day SMA of $0.477891, AXL shows strong momentum. With a 14-day RSI of 54.13, the gainer is currently neutral, suggesting potential for future moves. It also enjoys high liquidity, with a 0.1253 volume-to-market cap ratio.
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