Top Crypto Gainers Today May 07 – Tellor, Injective, KuCoin Token, Solana

In the ever-changing crypto market, staying updated with daily news is crucial. Today, the industry is increasingly prioritizing improving the user experience of crypto wallets to drive broader blockchain technology adoption. In light of this, Ethereum developers are gearing up for the upcoming hard fork, Pectra. They have been actively discussing Ethereum Improvement Proposals (EIPs) to refine the platform. 

This proposal promises significant improvements. Particularly for externally owned accounts (EOAs), the most prevalent type of wallet on Ethereum. Among these, EIP-3074 stands out, aiming to streamline wallet usability on the blockchain. It also allows batched transactions and third-party fee sponsorship. Now, let’s move to today’s topic on outstanding gainers in the market.

Biggest Crypto Gainers Today – Top List

Today’s top crypto gainers, Tellor, Injective, KuCoin Token, and Solana have surged in price. Before going into the in-depth analysis of these tokens, let’s take a sneak peek at their price growth in the last 24 hours and one year. Tellor rose by 9.89% in the previous 24 hours and 732% over the past year.

Meanwhile, Injective saw a 0.80% increase in the last 24 hours and a significant 251% increase over the past year. Also, KuCoin Token had a modest 0.35% increase in the previous 24 hours and a 36% increase in the past year. Moreover, Solana witnessed a substantial 614% price increase over the past year, with a recent rise of 3.39% in the last 24 hours. Given this remarkable growth, let’s delve into the specifics.

1. Tellor (TRB)

Tellor is a decentralized oracle protocol that fuels blockchain infrastructure, delivering crucial off-chain data to on-chain smart contracts. It is out to shape decentralized finance and enable seamless integration of real-world data into blockchain applications. Its security hinges on its governance contract, employing a straightforward dispute mechanism to ensure community consensus on reported data.

Tellor’s oracle incentivizes data reporters, ensuring valid on-chain data while disincentivizing inaccuracies through disputes and slashing. This permissionless model fosters flexibility and robustness and is adaptable to various blockchain applications. Reporters compete for TRB incentives to supply data, ensuring permissionless access for DeFi applications. Unique to Tellor, becoming a reporter requires no verification, allowing global participation with open-source software.

📚 more on tellor fundamentals here:https://t.co/nNayjU8Wc8 pic.twitter.com/z9Iwv4Cwtm

— Tellor (@WeAreTellor) May 3, 2024

Now, let us examine the price performance of this gainer in the market today. TRB has been on a meteoric rise, surging by 9.89% in the last 24 hours and an astounding 732% over the past year. It is trading at 86.70% above the 200-day SMA at $53.52; no doubt this coin is riding high. However, caution is warranted as its 14-day RSI is 72.72, indicating overbought conditions. Nonetheless, with 57% positive trading days in the last 30 days and a moderate 30-day volatility of 22%, Tellor demonstrates potential. Moreover, its impressive liquidity is underscored by a volume-to-market cap ratio of 7.4112, reflecting investor confidence and robust market activity.

2. Injective (INJ)

Injective is a blockchain dedicated to finance, serving as an open, interoperable layer-one blockchain for next-generation DeFi applications. Its features include decentralized spot and derivatives exchanges, prediction markets, and lending protocols. INJ stands out with its entirely decentralized, MEV-resistant on-chain order book. It supports various financial markets like spot, perpetual, futures, and options. Moreover, it offers advanced interchain capabilities that are compatible with Ethereum, IBC-enabled blockchains, and non-EVM chains such as Solana.

Injective recently made headlines by announcing a groundbreaking partnership with AltLayer. Together, they’re rolling out a cutting-edge restaking security framework tailored for on-chain inEVM applications. This collaboration enhances the finality of rollups, providing advantages to applications operating through inEVM. AltLayer’s MACH solution implements restaking-based security measures. It not only safeguards users from malicious activities but also facilitates transaction recall.

Injective's ecosystem is growing at a tremendous speed!

More and more dApps are coming together to build the future of finance 🚀 https://t.co/33ul1bKA4D

— Injective 🥷 (@injective) May 6, 2024

Considering recent developments, INJ’s performance metrics indicate a positive trajectory. Currently priced at $24.86, INJ has seen a 0.80% increase in the last 24 hours and a significant 251% increase over the past year. Trading 125.78% above its 200-day SMA, INJ shows signs of strength, although its 14-day RSI suggests it may be overbought. Despite this, with 47% of the last 30 days being positive and a 30-day volatility of 13%, INJ demonstrates resilience and stability.

3. 5th Scape (5SCAPE)

5th Scape is a unique online VR gaming platform poised to redefine user experiences within virtual environments through its fusion of innovation and entertainment. Recent data shows a steady rise in VR gaming, placing the project at the industry forefront. Thus, 5th Scape is a prime candidate for explosive growth. Put simply, 5th Scape aims to serve as the entry point into this decade’s anticipated virtual reality revolution.

Distinguishing itself, 5th Scape specializes majorly in crafting hyper-realistic virtual environments, reshaping the gaming experience. Its lineup boasts adrenaline-pumping battles, immersive sports, precision archery, high-speed racing, and more, promising something for every gamer’s taste. For instance, Cage Conquest offers dynamic combat and strategic training, while Thrust Hunter delivers heart-pounding global multiplayer races.

🎮 Calling all VR and MMA aficionados! Get ready to be blown away as 5thScape is about to redefine virtual combat with "MMA Cage Conquest" – a game that thrusts you into the heart-pounding world of MMA in VR. 🥊

🌟 Brace yourselves for the "MMA Cage Conquest" launch on the Meta… pic.twitter.com/MHbKgKHIxb

— 5th Scape (@5th_scape) May 3, 2024

5th Scape’s strategy involves financing its development through its native cryptocurrency, 5SCAPE. This shows its commitment to pushing the boundaries of virtual reality gaming. With $5.8 million already raised, there’s an opportunity for investors to participate and support the project’s growth. At $0.00327, buying 5SCAPE tokens offers the potential for substantial gains. Its projected listing price of $0.01 amplifies the investment opportunity. As the token integrates into 5th Scape’s VR ecosystem, it promises rewards, features, and upgrades.

Visit 5th Scape Presale

4. KuCoin Token (KCS)

KuCoin Token serves as the native token for KuCoin, which was established in 2017. It is a profit-sharing asset, allowing traders to derive value from the exchange. Initially an ERC-20 token on Ethereum, KCS boasts a total supply of 200 million, with plans for a buyback to reduce this to 100 million. KuCoin aims to elevate KCS beyond a mere token, intending it as the cornerstone of its ecosystem and governance.

https://twitter.com/kucoincom/status/1787708944854774190

KCS offers various use cases within the KuCoin ecosystem. Users holding more than 6 KCS receive daily dividends from trading fees while also enjoying discounts of up to 80% on trading fees. Moreover, KCS enables participation in token sales and serves diverse roles within the KuCoin ecosystem, such as granting VIP status and facilitating payments. KuCoin ensures project security through encryption protocols. These protocols safeguard user privacy and transaction stability with a robust architectural system.

🆕 Today's top #crypto news on #KuCoinMarketWatch ⤵️

🟢 SEC delays decision on Invesco Galaxy spot #EthereumETF

🟢 US crypto super PACs raise over $100M for upcoming congressional elections

🟢 Hong Kong's six spot $BTC and $ETH ETFs trade about HK$60.41M

More key news ⤵️

— KuCoin (@kucoincom) May 7, 2024

For investors, KCS presents a mixed performance outlook. The current price of KCS stands at $10.53, with a modest increase of 0.35% in the last 24 hours. It has witnessed a 36% increase in the past year and trades above its 200-day SMA. However, its 14-day RSI, currently at 55.68, indicates a state of neutrality, suggesting potential sideways movement. Also, its low volatility and liquidity may deter investors seeking higher-risk, higher-reward opportunities. 

5. Solana (SOL)

Solana is a blockchain project renowned for its focus on decentralized finance (DeFi) solutions. It leverages blockchain’s permissionless nature to facilitate the creation of decentralized applications (DApps). Solana stands out due to its innovative proof-of-history (PoH) consensus, enhancing scalability and usability. Developed by Anatoly Yakovenko, PoH records operations and timestamps, enabling lightning-fast processing times.

This hybrid consensus model, combining PoH with proof-of-stake (PoS), ensures the security of the Solana network. PoS validates blocks produced by PoH, maintaining the trustless nature of the blockchain. Solana caters to both small traders and institutions, promising low transaction costs and scalability without surprises. Its speed and performance have drawn comparisons to Ethereum, positioning it as a formidable competitor in the smart contract space.

https://t.co/4kiYPG8nnf

— Solana (@solana) May 6, 2024

Over the past year, SOL has witnessed a substantial price increase of 614%, showcasing its remarkable growth trajectory. It is currently trading at $154.19, sitting 35.65% above its 200-day simple moving average of $113.68. Despite recent gains of 3.39% in the last 24 hours, the cryptocurrency’s 14-day RSI stands at 52.98, signalling potential for sideways movement. Its volatility remains relatively low at 10% over the past 30 days, indicating stability amidst market fluctuations. SOL offers high liquidity, with a volume-to-market cap ratio of 0.1056. Its market cap is $69.08B, with a 24-hour trading volume of $7.29B, appealing to investors seeking stability and growth in cryptocurrencies.

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