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In the ever dynamic crypto market, Dogwifhat has emerged as the top gainer, showcasing an unprecedented gain of 10,000,000.00% over the past year. Conversely, Arbitrum has faced significant challenges, witnessing a substantial loss of -58.61%.
As the new year commenced, Dogwifhat continued its remarkable ascent, boasting a noteworthy increase of 1,114.47%. In stark contrast, Portal Coin struggled, losing 31.42% of its value since the year began.
Amidst the market’s ebbs and flows, today’s trading activity surged to $892.69B in the last 24 hours. Bitcoin, the cornerstone of the cryptocurrency ecosystem, experienced a modest 0.87% increase, reaching a price of $66,738 and maintaining a market dominance of 52.25%. Despite the volatility, opportunities abound, with LUNA emerging as the day’s top gainer, soaring by an impressive 64.90%, while Theta Fuel faced a sharp decline of -12.96%.
Biggest Crypto Gainers Today – Top List
Among the top gainers for today, four have gained the spotlight, each showcasing unique innovations and robust growth. Terra Classic stands out with its proof-of-stake mechanism and innovative governance structure, empowering users to participate actively in network decisions. Akash Network revolutionizes cloud computing with decentralized solutions, attracting Web3 developers. Optimism scales the Ethereum ecosystem through optimistic rollups, marking significant performance metrics. Meanwhile, Arweave pioneers permanent data storage with Blockweave technology, offering dividends to token holders. These projects underscore blockchain’s transformative potential in reshaping the global economy.
1. Terra Classic (LUNC)
Terra Classic operates on a Proof-of-Stake (PoS) mechanism, allowing token holders to participate actively in the network’s governance. Validators, chosen based on their stake in LUNA tokens, validate transactions and maintain network integrity. Delegators, who entrust tokens to validators, play a crucial role in the system’s security and reliability. The process incentivizes careful delegation, as failure to perform duties may result in token slashing.
Minting stablecoins on Terra Classic requires burning LUNA tokens equivalent to the desired fiat currency value, ensuring stablecoin peg maintenance. This innovative approach empowers users to engage in decentralized finance (DeFi) activities while preserving stability. Additionally, the Mirror protocol enables tokenizing real-world assets, expanding Terra Classic’s utility and investment opportunities.
Investors benefit from high returns through dApps like Anchor Protocol (ANC), tapping into Terra’s robust ecosystem and potential for growth. Partnering with platforms like Chai and supported by the Terra Alliance shows Terra seeks widespread adoption.
The new Warp Playground is live on https://t.co/uoaA0gfXm8 🛝 https://t.co/1gorWdz8UE
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) March 5, 2024
Its current price is $ 0.000216, marking a 13.32% surge in the last 24 hours. Despite recent growth, its market dominance remains modest at 0.05%. The cryptocurrency’s neutral investor sentiment is reflected in the Fear/Greed Index at 75 (Greed). Analyzing performance metrics reveals a 46% price increase over the past year, outperforming 34% of the top 100 crypto assets by market cap. This gainer’s innovative approach to stablecoins and governance offers a glimpse into the future of decentralized finance.
2. Akash Network (AKT)
Akash Network is a cloud computing marketplace fostering a transparent, secure, decentralized community. It connects those with excess computing resources to those in need, offering flexibility, usability, and cost efficiency. The network’s native AKT token is vital, rewarding users for leasing their computing capacity and contributing to the ecosystem’s growth. Targeting Web3 developers, Akash equips them with tools for deploying decentralized applications effortlessly.
It operates on a peer-to-peer protocol, distributing workloads proportionally through Docker containers. These containers ensure a highly isolated yet configurable environment, utilizing a DPoS consensus mechanism and facilitating bidding for computing resources. Also, compared to centralized options like Amazon Web Services or Microsoft Azure, Akash charges almost three times less while providing similar services.
64 units of new NVIDIA H100s and A6000s are now available for the next 12 months on the Supercloud at the lowest price on the market.
This is the first batch of GPUs delivered as part of the ongoing provider incentives pilot program, with new batches arriving every few weeks.… pic.twitter.com/BeySgvs9Gj
— Akash Network (@akashnet_) March 5, 2024
Performance analysis reveals remarkable growth, with a 1,001% surge in the last year, outpacing 95% of the top 100 crypto assets. Currently trading at $4.49, AKT saw a 5.07% increase in the previous 24 hours. Market dominance is 0.04%, with a Greed/Fear Index 75 (Greed). Despite moderate volatility (30-day volatility at 18%), it trades 338.56% above its 200-day SMA ($1.0128). AKT showcases resilience in a dynamic market with 60% positive trading days in the last 30 days and medium liquidity (0.0112 volume to market cap ratio).
3. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix operates as a tokenized cloud mining platform to democratize Bitcoin (BTC) mining for everyday users. By tokenizing cloud mining, the platform ensures a secure and transparent experience, eliminating the risks of third-party scams. The platform addresses the high hardware costs and deceptive scams that have deterred people from BTC mining. With Bitcoin Minetrix, users stake BTCMTX tokens to gain cloud mining credits, ensuring a decentralized and transparent mining experience.
What #BitcoinMinetrix provides:
Easy access points for beginners.
Economical solutions for mining. 💰
Sleek and noise-free configurations.
Assurance of no worries about reselling. 🛡️ pic.twitter.com/hnI2CWdSnh
— Bitcoinminetrix (@bitcoinminetrix) March 5, 2024
The Stake-to-Mine concept simplifies BTC mining for ordinary users, requiring only an Ethereum-compatible wallet like MetaMask to purchase and stake BTCMTX tokens. Staking earns non-tradable ERC-20 token credits that can be exchanged for BTC cloud mining power.
Cloud mining offers several benefits, including ease of entry, cost efficiency, space and noise reduction, and elimination of resale worries. The presale for BTCMTX has raised over $11.8 million, with a current price of $0.0139 per token. The presale adopts a phased strategy, gradually increasing prices as funding milestones are achieved. With Stage 29 closing in just four days, investors have a limited window to seize the opportunity and acquire a stake in this token.
Visit Bitcoin Minetrix Presale
4. Optimism (OP)
Optimism is a layer-two blockchain solution built atop Ethereum, aiming to scale the ecosystem through optimistic rollups. With over $500 million in Total Value Locked (TVL) and 97 protocols, including Synthetix (SNX), Uniswap (UNI), and Velodrome (VELO), Optimism stands as a prominent scaling solution. OP is the governance token, allowing holders to participate in decision-making through the Token House.
It distinguishes itself through simplicity, pragmatism, and sustainability. Optimism ensures efficient operation by minimizing moving parts and leveraging existing Ethereum infrastructure. Its pragmatic approach addresses real-world needs, iteratively implementing features like EVM equivalence. Moreover, Optimism prioritizes long-term sustainability, employing optimistic rollups to scale the network securely while guaranteeing a seamless user experience.
Superchain mega-adoption, and it's just going to get better from here… @worldcoin 🤝 @Optimism https://t.co/mvuFbzFpv0
— Optimism (@Optimism) March 4, 2024
Op has seen significant growth, with an 85% surge in the last year. However, it underperformed Bitcoin by -36.90% and Ethereum by -22.55%. Trading at $4.73, OP experienced a 7.03% increase in the last 24 hours, with bullish investor sentiment. Trading 194.20% above its 200-day SMA, Optimism displays moderate volatility with 60% positive trading days in the previous 30 days. High liquidity and a 2.7077 volume-to-market cap ratio make it noteworthy in the Ethereum scaling landscape.
5. Arweave (AR)
Arweave offers a unique data storage solution, allowing users to store data permanently on the permaweb and share it with others. Acting as a collectively owned hard drive ensures data remains accessible across generations. Utilizing the proof of access mechanism and Blockweave technology provides efficient scalability and fast data retrieval. The network incentivizes miners through Wildfire to maintain good behavior and enhance community engagement.
AR is the only protocol enabling permanent data storage, leveraging Blockweave for faster, cheaper, and more efficient data storage and retrieval. Token holders can receive dividends from generated transaction fees, promoting network growth and sustainability. Additionally, Arweave partners with startups through its Boost program, offering free storage and access to industry investors.
It has seen significant growth from recent performance data, with a 256% surge in the last year. While outperforming 80% of the top 100 crypto assets, it lagged behind Bitcoin and Ethereum. Currently trading at $31.80, it experienced a 7.62% increase in the last 24 hours. With a bullish investor sentiment, Arweave deals 396.67% above its 200-day SMA. Despite moderate volatility (48%), it maintains high liquidity with a 0.2630 volume-to-market cap ratio, reflecting its strong position in the market.
ao and Arweave transaction stats are going to the moon!🚀 Episode 5 of The Testnet Show is here. pic.twitter.com/2j9NSnYOyu
— ao (@aoTheComputer) March 5, 2024
With the deep insight of each of our top gainers today in our knowledge bank, let us proceed to the latest market trend. Bitcoin surged to an intraday peak of $66,540 during the Asian session. This is shy of its record high of $69,202 set less than 24 hours earlier, with investors showing resilience amid volatile trading. The rally, fueled by institutional investments and prospects of global interest rate cuts, signifies mainstream acceptance of Bitcoin, marking a watershed moment for the industry.
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