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Top Crypto Gainers Today May 21 – Ethereum Name Service, Arbitrum, Aragon, Loopring

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As the US inches closer to the possibility of approving Ether ETFs, the crypto market is buzzing with potential. This development mirrors the earlier approval of Bitcoin ETFs, which propelled Bitcoin to record highs. Traders are shifting strategies, anticipating significant growth in Ether and related assets.

In line with this, Ether surged nearly 14% on Monday, reaching $3,675 by Tuesday morning. Bitcoin wasn’t left out, soaring to an impressive $72,000, just shy of its March all-time high of $74,000. Bloomberg analysts have now raised the expected probability of the SEC approval to 75% from 25%. All eyes are on the SEC’s decision on a spot-Ether ETF, expected by May 23. 

Biggest Crypto Gainers Today – Top List

With the surge in ether, it is no surprise that a significant portion of the 92% of cryptocurrencies exhibiting value appreciation in the past 24 hours are Ethereum-based tokens. Among these notable performers are Ethereum Name Service, Arbitrum, Aragon, and Loopring—tokens we’ve termed top gainers for today. 

ENS surged by 41.62%, ARB by 18.03%, ANT by 17.34%, and LRC by 15.59% in the last 24 hours. However, beyond mere numerical growth, their innovative projects allure discerning investors. This highlights a convergence of visionary concepts and market traction.

1. Ethereum Name Service (ENS)

Ethereum Name Service is a distributed naming system on the Ethereum blockchain. It converts human-readable addresses like ethan.eth into machine-readable codes used in wallets like Metamask. It also supports reverse conversion, linking metadata and machine-readable addresses with human-readable ones.

ENS simplifies blockchain usage by making Ethereum-based web addresses easier to access, akin to how DNS makes the internet more user-friendly. It employs a hierarchical domain structure, giving domain owners full control over their subdomains. ENS is the first service to transfer DNS functionality to the decentralized Web3.

ENS Price Chart

ENS runs on Ethereum, secured by a proof-of-work consensus mechanism and over 10,000 decentralized nodes. This decentralization prevents hacking and ensures robust security. ENS has partnerships with wallets like Coinbase Wallet and Trust Wallet, enhancing its utility.

ENS trades at $20.59, up 41.62% in the last 24 hours. Over the past year, its price has surged by 105%. It trades 128.00% above its 200-day SMA of $8.99. However, the 14-day RSI is at 40.88, indicating neutral sentiment. In the last 30 days, 12 were positive, making up 40%, with 30-day volatility at 5%. ENS boasts remarkable liquidity, with a volume-to-market cap ratio of 0.7931, reflecting its robust trading activity.

2. Arbitrum (ARB)

Arbitrum is an Ethereum layer-two (L2) scaling solution that uses optimistic rollups to improve Ethereum’s speed, scalability, and cost-efficiency. It leverages Ethereum’s security while offering higher throughput and lower fees by moving most computation and storage off-chain. ARB, the native token, facilitates governance, enabling holders to vote on protocol changes, fund allocation, and Security Council elections.

ARB Price Chart

Arbitrum supports unmodified EVM contracts, enabling existing Ethereum DApps to run without code changes. It handles thousands of transactions per second with low fees and fast finality while maintaining Ethereum’s security. 

In a unique approach, a decentralized network of validators actively stakes ARB tokens, securing the network and empowering token holders by distributing fees. This innovative system eliminates reliance on a centralized operator, fostering a democratic and resilient ecosystem. The ecosystem includes protocols like GMX, Treasure, Camelot, and Radiant Capital. 

The current price of ARB sits at $1.149316, reflecting an impressive 18.03% surge over the past 24 hours. The preceding year has seen a modest 3% rise, trading at a noteworthy 10.70% above the 200-day SMA of $1.03856. 

With a 14-day RSI of 71.26, ARB shows signs of overbought conditions. In the past 30 days, it had 11 green days, coupled with a 6% 30-day volatility. Additionally, boasting high liquidity, it maintains a robust 0.4348 volume-to-market cap ratio, indicating sustained investor interest.

3. Dogeverse (DOGEVERSE)

With over $15 million raised, Dogeverse stands out for its remarkably successful meme coin presale in 2024. Investors still have the opportunity to join the presale and purchase DOGEVERSE using various cryptocurrencies like ETH, USDT, BNB, and more. As the ICO approaches its end, Dogeverse is prepared with an innovative strategy. 

Dogeverse’s deployment strategy is meticulously planned, starting with its launch on Ethereum for its wide adoption and high security. Utilizing Wormhole and Portal Bridge technologies, the project aims to simultaneously extend DOGEVERSE tokens across Ethereum, Polygon, Solana, Avalanche, Base, and BNB Chain. This strategic rollout enables presale buyers to claim tokens directly on their preferred blockchain. It enhances user-friendliness and fosters inclusivity within the community.

The advantages of this deployment strategy are multifaceted. It offers seamless interoperability and smooth and secure experiences through innovative technologies. Additionally, it allows users to choose their preferred blockchain for token claims. By providing inclusive accessibility and empowering users to engage with DOGEVERSE on their chosen chain, the project exemplifies a true multichain spirit.

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4. Aragon (ANT)

Our next gainer, Aragon, builds secure tools for launching and managing Decentralized Autonomous Organizations (DAOs). As an Ethereum-based dApp, it empowers crypto communities to unite based on shared beliefs, values, and resources. Started by the Aragon Foundation, this open-source project aims to accelerate corporate adoption of blockchain technology. The network’s native ANT token facilitates governance within the ecosystem.

ANT Price Chart

Aragon operates as a community-run DAO, where members vote on protocol changes. The network’s open-source tools ease corporate blockchain adoption. Its dApp integrates features like accounting and governance, providing a sense of identity for companies. It encourages long-term value creation by fostering communities with similar goals. Users can customize pre-made DAO components to fit their needs.

ANT’s current price is an impressive $9.28, marking a 17.34% surge in just the last 24 hours. Over the past year, its value skyrocketed by 169%, now trading 50.09% above the 200-day SMA of $6.20. The 14-day RSI sits at 44.76, indicating neutral momentum, suggesting stability. 

In the past 30 days, Aragon enjoyed 16 positive trading days 53% of the time. Its 30-day volatility is a low 4%, reflecting steady performance. The market cap is $401.96M, with a 24-hour volume of $11.09M, indicating medium liquidity. This shows ANT is a stable and growing investment with strong short-term momentum, consistent performance, and balanced risk.

5. Loopring (LRC)

Loopring is a pioneering Ethereum-based token powering an open protocol for decentralized crypto exchanges. It tackles the pitfalls of centralized exchanges, including custodial risks and transparency issues. It does this by introducing a hybrid model blending elements of both centralized and decentralized exchanges.

It transforms trading by centralizing order management while executing trades directly on the blockchain. Unlike traditional decentralized exchanges, Loopring combines multiple orders into circular trades. This breaks the limitations of one-to-one trading pairs. This approach not only enhances the efficiency of order execution but also significantly improves liquidity. 

LRC Price Chart

However, how does Loopring ensure robust security across its network? The protocol operates on Ethereum and Neo blockchains, using their respective hash functions for security. It also plans to integrate the Qtum blockchain, expanding its network and enhancing security.

LRC’s price today is $0.291097, with a 15.59% surge in the last 24 hours. Over the past year, it increased by 1%, trading 8.52% above the 200-day SMA of $0.268775. With a 14-day RSI of 49.93, its momentum stands at a crossroads, neither tipping towards overbought nor oversold territory. Among the last 30 days, 12 were positive, displaying a low volatility of 4%. Its market cap is $398.68M, with a substantial 24-hour trading volume of $53.01M, indicating high liquidity.

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