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Top Trending Crypto Coins on DEXTools – StarLink, Banana Gun, Crypto Asset Governance Alliance

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StarLink STARL
StarLink STARL

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The crypto market took a slight dip today to get lower than the last 24 hours. Top gainers on DEXTools are also experiencing a difficult time at the time of this report. However, lesser-known assets are attracting investment from traders hunting for top-trending coins.

The market is undergoing a retracement from the gains it saw last week. Nevertheless, most currencies hold on to high trading volumes as traders push for more gains.

Meanwhile, Britain’s FTSE 100 experienced a slight downturn on Tuesday. It was influenced by the decline of Rolls Royce’s aerospace and defense sectors. However, Glencore’s acquisition of a majority stake in Teck Resources curbed losses in the benchmark index.

At 0818 GMT, the blue-chip FTSE 100 (.FTSE) dropped by 0.2%, while the mid-cap index (.FTMC) saw a 0.1% decline.

The aerospace and defense sector (.FTNMX502010) marked the most significant decrease, slipping by 0.7%. Rolls Royce (RR.L) shares fell by 1.8% after Emirates President Tim Clark called upon the engine manufacturer to enhance durability and reduce maintenance costs.

Conversely, Glencore (GLEN.L) surged by 3.4% following its agreement to acquire a 77% stake in the Canadian miner Teck Resources’ (TECKb.TO) steelmaking coal business for $6.93 billion in cash.

This acquisition resulted in a nearly 2% climb in the industrial metal mining sector (.FTNMX551020), leading the day’s sectoral gains.

Top Trending Crypto Coins on DEXTools

Additionally, the media sector (.FTNMX403010) experienced a 0.5% increase, driven by a nearly 5% surge in Informa (INF.L) shares. Informa, an events organizer, raised its full-year revenue and profit expectations.

Despite data revealing a slightly slower growth rate in British wages during the third quarter, which remained close to record levels, the news did little to alleviate the Bank of England’s concerns about inflationary pressures.

1. StarLink (STARL)

The current price of StarLink (STARL) stands at $0.00000366, accompanied by a 24-hour trading volume of $17,20 million. This marks a remarkable 26.36% surge in the last 24 hours, although the token experienced a slight decline of 5.89% over the past seven days. StarLink holds a circulating supply of 10 Trillion STARL tokens, valuing the cryptocurrency’s market cap at $36.87 million.

Looking back at its price history, StarLink peaked at $0.00008821 on November 25, 2021, nearly two years ago, indicating that the current price sits at a significant 95.85% lower than its all-time high. Conversely, the lowest recorded price for StarLink was $0.000000148142 on July 01, 2021, over two years ago. The current price reflects a substantial increase of 2,370.11% from its all-time low.

STARL price chart

Considering the hypothetical scenario where the maximum number of 10 Trillion STARL tokens are circulating today, StarLink’s fully diluted valuation stands at $36,942,751. This estimate represents the potential market cap, yet its realization may take multiple years, contingent upon the emission schedule of STARL tokens.

In terms of recent price performance against similar Ethereum Ecosystem cryptocurrencies and the global cryptocurrency market, StarLink has demonstrated a decline of 5.90% in the past seven days. This shows underperformance compared to Ethereum Ecosystem cryptocurrencies, which are up 12.70%, and the global cryptocurrency market, showing a 5.20% increase.

Despite the recent decline in price, the market sentiment surrounding StarLink remains bullish mainly. A lot of crypto users express optimism about it. It also has the necessary qualities needed to become a top-trending cryptocurrency.

2. Crypto Asset Governance Alliance (CAGA)

The new cryptocurrency, Crypto Asset Governance Alliance (CAGA), has a market value of $0.00003099 and a notable 138.01% surge in the last 24 hours. There is no data available on its 7-day performance. Unfortunately, the circulating supply of CAGA tokens, which is necessary for calculating market capitalization, remains unreported.

CAGA price chart

The highest price ever recorded for Crypto Asset Governance Alliance (CAGA) is $0.00003367, recorded yesterday. This signifies that the current price is approximately 9.24% lower than its all-time high. Conversely, the lowest recorded price for CAGA was $0.00000818, noted four days ago on November 10, 2023. The current price reflects a 273.66% increase from its all-time low.

Regarding the hypothetical scenario where the maximum number of 100 billion CAGA tokens are in circulation today, the fully diluted valuation of Crypto Asset Governance Alliance amounts to $3.05 million. However, realizing this value could take multiple years, contingent upon the emission schedule of CAGA tokens.

In the past seven days, Crypto Asset Governance Alliance (CAGA) has shown a price stability of 0.00%, indicating underperformance compared to the global cryptocurrency market’s 5.10% increase and the 12.70% rise observed in similar Ethereum Ecosystem cryptocurrencies.

Despite recent price stability, the market sentiment around this asset is predominantly bullish. Many users think it can become the most trending cryptocurrency if it continues on this trajectory.

3. Banana Gun (BANANA)

Banana Gun (BANANA) also gained in the last 24 hours, costing $12.17. It boasts a 24-hour trading volume of $1.23 million. This demonstrates a 20.24% surge in the previous 24 hours and a 26.76% increase over the past seven days. With 2.4 Million BANANA in circulation, the current market capitalization valuation of Banana Gun is $29.17 million.

BANANA price chart

The all-time high for Banana Gun (BANANA) was reached at $13.60, recorded on Sep 17, 2023 (approximately two months ago). Presently, this price is 10.63% lower than the all-time high. On the contrary, the all-time low for Banana Gun (BANANA) was noted at $5.13 on Oct 12, 2023 (about one month ago), signifying a 136.95% increase from the lowest recorded price.

Calculated with the assumption of 10 Million BANANA tokens in current circulation, the fully diluted valuation (FDV) of Banana Gun (BANANA) is $121.55 million. However, it might take several years for the FDV to be realized based on the emission schedule of BANANA tokens.

Analyzing its price performance against peers, Banana Gun (BANANA) has exhibited a 26.80% increase in the last seven days, surpassing the global cryptocurrency market, which has seen a 4.90% rise. Additionally, Banana Gun has outperformed compared to similar Ethereum Ecosystem cryptocurrencies, as they have experienced a 12.70% increase.

The market sentiment for Banana Gun is reported as overwhelmingly bullish. The steady rise it experienced places it as a top-trending cryptocurrency.

What Might Be The Next Top Trending Crypto?

The appeal of BTCETF lies in its direct correlation with new developments and product advancements within the cryptocurrency realm, specifically about Bitcoin’s progress and the approval of tangible spot Bitcoin ETFs.

BTCETF is available for purchase during its presale phase and offers staking opportunities with an annual percentage yield (APY) currently standing at 491%. Impressively, within the past three days, there has been a surge of 93%, totaling 58 million BTCETF tokens deposited into the staking smart contract.

The dynamically calculated APY varies based on the amount staked, ensuring proportional rewards for each wallet address corresponding to its stake in the pool. These rewards, paid out in BTCETF, extend over five years, with each ETH block generating 119 BTCETF tokens.

The token’s deflationary nature incorporates a burn mechanism designed to curtail the total token supply, supporting its price. Upon launch, Bitcoin ETF Token transactions will undergo a 5% burn, while up to 25% of the total token supply remains eligible for burning.

Real-world events related to spot Bitcoin ETF milestones, such as initial approvals and launch dates, trigger various burn mechanism events. Additionally, the performance of BTCETF also serves as a trigger. For instance, once the BTCETF trading volume surpasses $100 million, the transaction tax is reduced from 5% to 4%. Milestones like the approval date of the inaugural spot Bitcoin ETF will prompt a reduction in the sales tax from 4% to 3%.

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