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Today’s lineup of top gainers in the cryptocurrency market is remarkable. Avalanche challenges Ethereum’s dominance with fast transactions, surging 17.48% to $48.68. Toncoin, birthed from Telegram’s vision, impresses with a 30.56% surge, priced at $3.71, fueled by strategic announcements.
Litecoin remains steadfast, facilitating low-cost transactions with a 14.06% surge, standing at $98.55, showcasing stability and liquidity. XRP, a crypto veteran since 2012, sees a 13.74% surge, trading at $0.688339. Despite facing stiff competition, its utility in cross-border transactions and real-time settlements continues to captivate investors worldwide.
With surges ranging from 13.74% to 30.56%, these coins showcase resilience and potential amid market fluctuations. Go into the details and stay ahead in the exciting space of digital assets.
Biggest Crypto Gainers Today – Top List
In today’s cryptocurrency market, with a trading volume of $496.89 billion, sentiments lean bullish at an extreme greed level of 81 on the Fear & Greed Index. Despite the ebbs and flows, 36% of cryptocurrencies surged, while 64% experienced losses. Amidst this backdrop, AMP emerges as the day’s biggest gainer, skyrocketing by an impressive 192.30%. In comparison, AIOZ Network faces the unfortunate distinction of being the worst performer with a -16.53 % drop in price. These fluctuations underscore the market’s volatility and hint at potential opportunities for investors.
1. Avalanche (AVAX)
Avalanche is not just another blockchain; it’s a formidable challenger to Ethereum’s dominance. Launched in 2020, AVAX was designed to host decentralized applications and custom blockchain networks, boasting a transaction output of up to 6,500 transactions per second while maintaining scalability.
It truly stands out with its innovative approach to decentralization and scalability. Dividing tasks among its three blockchains achieves higher throughput without compromising security. The X-Chain facilitates token exchange, akin to Ethereum’s ERC-20 standard. Meanwhile, the C-Chain hosts smart contracts, and the P-Chain coordinates network validators and subnets. This modular structure enhances efficiency and fosters interoperability with other blockchains, making Avalanche a promising platform for future developments.
Over the past year, it outperformed 62% of the top 100 crypto assets and Ethereum. Currently trading at $48.68, Avalanche has surged by 17.48% in the last 24 hours, with a market dominance of 0.67%. While its 200-day SMA indicates a robust position at $15.75, caution is warranted as its 14-day RSI sits at 73.86, signaling an overbought status. Additionally, with only 50% of the last 30 trading days being positive, there’s a potential for price corrections.
With Durango successfully activating on mainnet today, https://t.co/6WDOAtKJGd has been officially discontinued and is no longer maintained by @avalabs.
Users are encouraged to transition to @coreapp for all validating & delegating needs.
More details👇 https://t.co/FjpspIT3CH
— Avalanche 🔺 (@avax) March 7, 2024
In the latest news, Avalanche’s Durango update has just gone live on the mainnet, promising improved scalability, security, and interoperability. The introduction of Avalanche Warp Messaging (AVM) technology streamlines communication between blockchain networks, reducing reliance on intermediaries. With this update, users can expect a smoother experience and potentially positive price impacts.
2. Toncoin (TON)
Toncoin emerged in 2018 as a decentralized layer-1 blockchain by Telegram, later taken over by the TON Foundation and renamed “The Open Network.” Operating on a proof-of-stake (PoS) model, it serves as the native cryptocurrency for the TON network, aiming to facilitate fast, transparent, and secure payments with minimal fees. The network boasts an innovative multi-level structure, employing sharding to enhance scalability and efficiency.
Toncoin exhibits a price surge of 30.56% in the last 24 hours, priced at $3.71, with a market dominance of 0.47%. Over the past year, it has seen a 55% price increase, outperforming 29% of the top 100 crypto assets. Despite underperforming Bitcoin and Ethereum, Toncoin trades 83.62% above the 200-day SMA, with a neutral 14-day RSI of 47.69. With 17 green days out of the last 30, its 30-day volatility rests at 13%, indicating moderate fluctuations. While liquidity remains moderate, the recent surge suggests a growing interest in the coin.
Just 1 week in, and #TON projects in The Open League are seeing impressive growth! 🚀@TonRaffles leads the pack, boasting over 70% user growth and a 60% increase in TVL. TON Foundation will airdrop 1 $TON to every @TonRaffles holder as a reward for the success.
Who's next? 👀… pic.twitter.com/aUvNnz0HHg
— TON 💎 (@ton_blockchain) March 11, 2024
In recent news, Toncoin witnessed a 30% surge, marking its highest since January 2022. The growth follows Telegram Messenger’s announcement of paying channel owners in cryptocurrency for advertising and Binance’s launch of perpetual futures trading for TON. Telegram’s founder Pavel Durov also hinted at a potential IPO, highlighting the platform’s staggering 900 million users and a valuation exceeding $30 billion, further fueling investor interest in Toncoin.
3. Sponge V2 (SPONGE)
Sponge, a meme coin inspired by SpongeBob SquarePants and historically bonded to Pepe, emerged amidst the bear market in May 2023. Despite the challenging conditions, it swiftly soared to a $100 million market cap, rewarding early adopters with remarkable gains. With a strong community backing of 13K holders and 30K social media followers, Sponge secured listings on over ten major exchanges, driving its rapid ascent.
Staking update! 🚀🧽
We now have over 9,138,851,394 $SPONGE tokens staked with a value of $27,864,372.8. 🤯
Stake your tokens today and enjoy our impressive current APY of up to 177%. 💪#Sponge #Memecoin #Crypto #Binance pic.twitter.com/PAqXyz5L6F
— $SPONGE (@spongeoneth) March 11, 2024
To revitalize its momentum after Sponge V1 faced some challenges, the Sponge team introduced Sponge V2, featuring a P2E game and innovative staking mechanics. The game, reminiscent of Mario Kart, offers users multiple avenues to earn rewards, with both free and paid versions available. By integrating a token economy, Sponge V2 mitigates volatility while fostering user engagement.
Transitioning from Ethereum to Polygon, Sponge V2 capitalizes on lower fees and faster transaction speeds, maintaining compatibility with the EVM. Leveraging Polygon’s extensive user base, Sponge stands out as its premier meme coin, poised for further growth.
With a generous staking mechanism offering a 534% APY, Sponge incentivizes long-term holding while stabilizing its price. However, as the staking pool expands, the APY will adjust accordingly. Allocating portions of $SPONGEV2 to marketing, game development, and liquidity, Sponge V2’s tokenomics provide a solid foundation for sustained success.
Its current price is $0.002942; Sponge has surged by 60.00% in the last seven days, surpassing the overall cryptocurrency market’s growth of 14.10%. Trading volume is $66,955.24 over the past 24 hours, reflecting ongoing investor interest and activity.
4. Litecoin (LTC)
Litecoin is a cryptocurrency that facilitates fast, secure, and low-cost transactions by leveraging blockchain technology. It was launched in 2011 as a “lite version of Bitcoin” by Charlie Lee, aiming to offer similar properties with enhanced speed and efficiency. With a block time of just 2.5 minutes and negligible transaction fees, Litecoin is well-suited for everyday transactions and point-of-sale payments.
What sets Litecoin apart is its simplicity and utility benefits. As of January 2021, it is one of the most widely accepted cryptocurrencies, with over 2,000 merchants worldwide. Litecoin’s main advantage lies in its swift transaction confirmations and minimal fees, making it particularly appealing in developing countries where transaction costs are a significant concern.
However, when examining performance metrics, Litecoin faces certain challenges. While it has seen a respectable 27% price increase over the past year, it has only outperformed 20% of the top 100 crypto assets. Additionally, it has underperformed Bitcoin and Ethereum significantly, with a -60.33% and -49.30% change respectively.
'Litecoin Beats Out Dogecoin, Bitcoin To Emerge As Top Crypto For Payments' – @newsbtc https://t.co/jvbHASsP9d
— Litecoin (@litecoin) March 11, 2024
Currently trading at $98.55, with a surge of 14.06% in the last 24 hours, Litecoin’s market dominance stands at 0.27%. While it maintains stability, trading 34.46% above the 200-day SMA, caution is warranted as its 14-day RSI indicates a neutral stance. Despite these challenges, Litecoin remains a viable option in the cryptocurrency market, with high liquidity and growing adoption.
5. XRP (XRP)
XRP is a cryptocurrency launched in 2012 by Chris Larsen, Jed McCaleb, and Arthur Britto. Developed to establish a decentralized monetary system, XRP facilitates real-time gross settlement, currency exchange, and remittance. Ripple, the company behind XRP, aims to create a decentralized payments network, enabling low-cost and near-instantaneous cross-border transactions. With a maximum supply of 100 billion coins, 80% were allocated to Ripple Labs at launch. RippleNet, Ripple’s suite of financial products, is utilized by prominent banking institutions like American Express and Barclays.
This gainer operates on the XRP Ledger, which employs a unique consensus protocol for transaction validation, ensuring speed and efficiency without Proof-of-Work or Proof-of-Stake. Ripple’s On-Demand Liquidity service leverages XRP for cross-border transfers, positioning it as a bridge asset between fiat currencies. Additionally, XRP finds utility in microtransactions and gaming industries, serving as a low-cost alternative to traditional financial solutions.
Currently priced at $0.688339, XRP surged by 13.74% in the last 24 hours, with a market dominance of 1.39%. Over the past year, it has experienced an 87% price increase, outperforming 41% of the top 100 crypto assets. However, it underperformed Bitcoin and Ethereum, with -41.69% and -25.46% changes respectively. Trading 21.48% above the 200-day SMA, XRP’s 14-day RSI indicates a neutral stance. Despite moderate volatility and high liquidity, caution is warranted as XRP’s performance may fluctuate shortly.
The tokenized economy holds immense potential for businesses and financial institutions, but liquidity hurdles can't be ignored.
To close out our tokenization series, we unravel the complexities and explore solutions for bridging the liquidity gap.https://t.co/dR9si93097
— Ripple (@Ripple) March 11, 2024
In the global market, amidst the latest cryptocurrency rally, XRP surged 17% and NEAR Protocol 14%. Bitcoin hit a new all-time high near $73,000, fueled by the skyrocketing popularity of spot exchange-traded funds (ETFs). As the London Stock Exchange prepares to accept applications for Bitcoin and Ether exchange-traded notes (ETNs), crypto mania is poised to spread globally despite restrictions limiting ETN ownership to professional investors.
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