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Discover today’s top gainers: Gala, Maker, Render Token, and Filecoin. Gala Games disrupts the gaming industry, witnessing a remarkable 12.55% surge, while Maker’s MKR token shines with an impressive 16.17% increase. Render Token emerges as a frontrunner in decentralized media production, boasting a remarkable 1,078% growth last year.
Meanwhile, Filecoin takes the lead in decentralized storage, demonstrating a notable 10.57% surge alongside a significant 118% increase over the year. But there’s more to uncover. So, stick around for a deeper analysis of these gainers.
Biggest Crypto Gainers Today – Top List
In the past 24 hours, the crypto market is boasting a colossal $517.33 billion in trading volume. Investors are riding high on the bullish wave, with the Fear & Greed Index hitting an extreme greed score of 84. Excitingly, 65% of cryptocurrencies are on the rise, while 35% are experiencing a downturn. Leading the charge is AIOZ Network, boasting an impressive 52.74% surge, while Bonk falters with an 8.03% dip. Among the coins on the rise today, the top gainers in this read have attracted our analytic lens.
1. Gala (GALA)
Gala is more than just a cryptocurrency; it’s the backbone of Gala Games, a revolutionary platform created by industry-leading game developers. Gala Games aims to redefine the gaming industry by empowering players through Web3 and blockchain technology. With a plethora of AAA-level games, Gala Games offers players unprecedented freedom, control, and rewards, disrupting the traditional model where players are incessantly pressured to spend money to enjoy their favorite games.
Its commitment to a “games-first” approach, prioritizing the gaming experience above all else, is outstanding. With centuries of combined experience from top game developers, Gala Games ensures players enjoy the highest quality gaming experience. Moreover, it simplifies the onboarding process for gamers entering the Web3 world, making blockchain transactions accessible through existing wallets like Coinbase and MetaMask.
The price analysis of this gainer reflects its growing popularity and potential. With a current price of $ 0.049126 and a surge of 12.55% in the last 24 hours, investor sentiment remains bullish. However, GALA faces challenges, outperforming only 28% of the top 100 crypto assets and underperforming against Bitcoin and Ethereum. While GALA trades above the 200-day SMA, indicating bullish momentum, its 14-day RSI suggests a neutral market sentiment. Despite these challenges, GALA maintains high liquidity, with a volume-to-market cap ratio of 0.3861.
Run a custom server and pack it with #NFT Creature Mods to increase the threat score. Then clean up the harvested Notarium that players left behind. Welcome to #Last Expedition.
Start playing now in the Early Access build for free.https://t.co/I1cV7aUqlG
— Gala Games (@GoGalaGames) March 8, 2024
In the latest news, Gala announced the acquisition of Intellectual Property Rights from EndlessAI for the Fuzzles NFT collection, signaling its commitment to community-driven initiatives. The Fuzzles collection, recognized for its groundbreaking AI technology, is set to come on GalaChain, leveraging its speed and scalability. With the project now in the hands of the community, members eagerly anticipate the development and launch of the revamped Fuzzles collection in the coming months.
2. Maker (MKR)
Maker is the governance token for the MakerDAO and Maker Protocol, operating on Ethereum’s blockchain. It facilitates the issuance and management of the DAI stablecoin, providing users with a decentralized financial system. Launched in 2017, MakerDAO manages DAI, a stablecoin pegged to the US dollar, fostering stability in the volatile crypto market. MKR holders wield voting power over protocol developments, impacting DAI’s success.
What sets Maker apart is its governance model, granting MKR holders voting rights to steer the direction of the Maker Protocol. This unique proposition empowers token holders to influence decisions like adding new collateral assets, adjusting risk parameters, and determining the DAI Savings Rate. Such direct participation distinguishes Maker in the DeFi landscape.
Due to the recent market volatility conditions, an Accelerated Proposal has been put forth for an Executive Vote to prepare the Maker Protocol for a potential excessive Dai demand shock caused by further bullish sentiment.
The Maker Protocol is working as expected, maintaining…
— Maker (@MakerDAO) March 8, 2024
Despite Maker’s impressive 16.17% surge in the last 24 hours and a remarkable 210% increase over the past year, it confronts certain hurdles. While outperforming 61% of the top 100 crypto assets, it has trailed behind Bitcoin, with a downturn of -9.28%. Its current trading position, 46.81% above the 200-day SMA, suggests strong momentum.
However, a neutral sentiment reflected by the 14-day RSI of 35.37 raises concerns about potential sideways trading. Moreover, while the cryptocurrency exhibits high liquidity with a volume-to-market cap ratio of 0.2021, its 30-day volatility remains low at 3%. Investors should weigh these factors carefully before making investment decisions.
3. eTukTuk (TUK)
eTukTuk transforms global transport sustainably through AI-driven solutions. By leveraging blockchain and artificial intelligence (AI), it tokenizes advancements in sustainable transport, optimizing routes to reduce traffic congestion and minimize fuel consumption.
One of the primary use cases of the $TUK token is its role in powering AI-driven crypto advancements. ETukTuk optimizes transportation routes through sophisticated algorithms, promoting sustainable practices while ensuring efficient travel. Moreover, eTukTuk champions eco-friendly innovations by supporting research initiatives focused on green transportation.
1/ In a collaboration between Fraunhofer IPA, Black Forest Campus, and industry partners, the "H2FastCell" project introduces a game-changing robot duo for rapid fuel cell stack assembly 🚀 pic.twitter.com/8sQCpwY6ZW
— eTukTuk (@eTukTukio) March 8, 2024
Its contribution extends to pioneering smart infrastructure through AI-enhanced blockchain technology. Using AI advances green initiatives in real-time, setting new standards for intelligent and sustainable urban development. Furthermore, it implements predictive maintenance strategies through AI integration, ensuring the longevity of vehicles while minimizing wastage.
In addition to its transformative impact on transportation, eTukTuk introduces an engaging play-to-earn game based on its flagship vehicle. Players navigate the streets of Sri Lanka in a Crazy Taxi-style game, picking up and dropping off customers for rewards. With opportunities to upgrade vehicles and unlock new cities, eTukTuk offers an immersive gaming experience.
Investors can also benefit from eTukTuk’s staking mechanism, offering an impressive 257% annual percentage yield (APY). They receive token incentives through staking for every Binance Smart Chain (BSC) block, providing additional value and rewards for supporting the eTukTuk ecosystem.
4. Render Token (RNDR)
Render Token tackles the bottleneck in computational infrastructure for next-gen media. With soaring computing demands, centralized GPU clouds face resource competition, leading to availability constraints and high costs. RNDR offers a decentralized solution, connecting creators with unused GPU cycles to render complex scenes and streamline processes, fostering widespread access to immersive media production.
Its value proposition extends beyond rendering, offering a vibrant digital asset and application marketplace. Artists, engineers, and developers leverage RNDR for various GPU workloads, enabling cost-effective creative, scientific, and industrial production. From crowdsourcing 3D projects to digital rights management, it unlocks new possibilities for decentralized collaboration and innovation across industries.
The platform’s decentralized nature ensures equitable access to computing resources, empowering creators worldwide to realize their vision without traditional infrastructure limitations. With RNDR, users can tap into a global network of computing power, driving efficiency and scalability in media production.
[A THREAD] Dive into our weekly roundup showcasing the latest developments in AI, spatial computing, and @rendernetwork community:
— The Render Network (@rendernetwork) March 9, 2024
RNDR has exhibited remarkable performance metrics, with a staggering 1,078% increase over the past year, outperforming 93% of the top 100 crypto assets. Trading at $11.33, RNDR currently stands 318.73% above the 200-day SMA of $2.68. While the coin’s 30-day volatility sits at 23%, its high liquidity, with a volume-to-market cap ratio of 0.4353, underscores investor confidence. Short-term investors may find RNDR’s recent surge appealing, while long-term investors should consider its volatility and market sentiment for strategic positioning.
5. Filecoin (FIL)
Filecoin stands at the forefront of decentralized storage solutions, aiming to safeguard humanity’s critical data in a decentralized manner. Conceived in 2014, it operates as an incentive layer for the Interplanetary File System (IPFS). Here, users utilize FIL tokens to pay for storage and distribution services. It uses blockchain technology and protocols like proof-of-replication and proof-of-spacetime to ensure data integrity and accessibility. This challenges the centralization problems of traditional cloud storage.
What sets Filecoin apart is its commitment to decentralization, empowering users to be data custodians. Unlike centralized alternatives, this network incentivizes participants to store and retrieve data honestly, promoting a fair and transparent ecosystem. Interactions between clients, storage miners, and retrieval miners facilitate seamless transactions and micropayments in FIL tokens, ensuring efficient data storage and retrieval processes.
The project is brilliant, and its market trajectory is evidence of how the market feels about it. Over the past year, Filecoin has experienced a significant 118% increase in price. It boasts a price of $ 11.30, with a notable 10.57% surge in the last 24 hours. Despite its market dominance of 0.23%, investor sentiment remains bullish, evident in the Greed/Fear Index at 84 (Extreme Greed). Trading 102.76% above the 200-day SMA, Filecoin shows resilience amidst market fluctuations, with 70% of the last 30 trading days being positive. Its high liquidity ratio of 0.4717 indicates strong market support, with a market cap of $ 5.91B and a 24-hour volume of $ 2.79B.
.@BVMnetwork has integrated #Filecoin as its storage layer, thanks to @LighthouseWeb3! This integration marks a significant enhancement for Bitcoin Layer 2 solutions powered by BVM and Filecoin, offering improved security and scalability.
BVM can now use Filecoin’s decentralized… pic.twitter.com/xj1fSfb4Dm
— Filecoin (@Filecoin) March 8, 2024
Let us move from the day’s spectacular top gainers to the latest crypto market report. The US Securities and Exchange Commission’s postponement of its decision on spot Bitcoin ETF options signals a pivotal moment for crypto investment strategies. Amid surging interest in cryptocurrency, analysts highlight the importance of options trading to mitigate volatility.
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