{"id":425287,"date":"2023-07-27T13:00:36","date_gmt":"2023-07-27T13:00:36","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=425287"},"modified":"2023-07-27T14:21:08","modified_gmt":"2023-07-27T14:21:08","slug":"top-crypto-gainers-on-27-july-sol-op-link-and-pepe","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/top-crypto-gainers-on-27-july-sol-op-link-and-pepe","title":{"rendered":"Top Crypto Gainers on 27 July – SOL, OP, LINK, And PEPE"},"content":{"rendered":"

Many cryptocurrencies have gained and dipped since their existence in the crypto market. Yet, most digital assets still experience significant surges ranging from trading volume, price, and customer base to popularity.<\/span><\/p>\n

We’ve picked the top crypto gainers to give a glimpse into their performance and the most lucrative opportunities in the market today. <\/span><\/p>\n

Solana, Optimism, Chainlink, Pepe, Maker, and Wall Street Memes are among these top performers.<\/span><\/p>\n

Keep reading to explore the factors that could be driving this surge.<\/span><\/p>\n

Solana (SOL)<\/b><\/h2>\n

Solana’s price has significantly increased by 8% today, with its surge to $25.29 after the Federal Reserve <\/span>extended its interest rate<\/span><\/a> 0.25% further to 5.5% on July 26.<\/span><\/p>\n

There are expectations that this extension may be the final throughout the current economic cycle. These expectations have had positive impacts on the entire crypto market.<\/span><\/p>\n

Moreover, considering the impressive recovery of approximately 150% since the start of 2023, SOL is gaining momentum as one of the most potentially profitable major cryptocurrencies in 2023.<\/span><\/p>\n

SOL’s <\/span>24-hour trading volume<\/span><\/a> has surged close to $700 million in the past few hours, a substantial increase from the previous value of approximately $350 million just some days ago.<\/span><\/p>\n

The surge in SOL’s market indicates that individual and larger investors have shown significant interest in cryptocurrency. <\/span><\/p>\n

Whales may also be backing the coin, rallying to increase its price and potentially capitalize on considerable profits in the upcoming weeks.<\/span><\/p>\n

Though recent significant whale transfers have not been reported, there was a notable movement of more than $53 million worth of SOL from Binance to an unknown (private) wallet last week. This observation hints that whales might be currently accumulating the coin.<\/span><\/p>\n

In light of this possibility, SOL will likely continue its upward momentum in the short-term and possibly even longer. This positive trajectory could be further supported by restoring Solana’s reputation in 2023.<\/span><\/p>\n

In contrast to 2022, which experienced detrimental network outages, this year has witnessed several uninterrupted uptimes for the Solana network. This significant improvement has instilled confidence that Solana will likely remain one of the prominent layer-one networks in the cryptocurrency space for the foreseeable future.<\/span><\/p>\n

Given the historical and present market conditions, it’s possible to expect SOL to hit $30 in the coming weeks, with the potential to rally even further to $40 by the end of 2023.<\/span><\/p>\n

Solana-based Products Spikes <\/b><\/h3>\n

Additionally, new <\/span>data<\/span><\/a> from the crypto analytics organization, CCData, shows that Solana (SOL) and some other cryptocurrencies experienced significant inflows across various products, following the market front-runner, Bitcoin (BTC).<\/span><\/p>\n

Specifically, Solana-based products spiked by 55.7% to $87.8 million in Assets Under Management (AUM).  This institutional investment boost resumed after Ripple’s success over the US Securities and Exchange Commission (SEC) concerning public sales of XRP. Other assets that surged include XRP and Stellar (XLM).<\/span><\/p>\n

While sales to some investors were blocked in violation, many traders relied on XRP’s win as a positive stride in the battle against the regulator’s actions, igniting bullish activity cools across the crypto market.<\/span><\/p>\n

SOL Projects Increasing Buying Pressure on Ascending RSI<\/b><\/h3>\n

\"Top<\/p>\n

According to the chart above, the asset’s market value will likely rally today. SOL trades above its 50-Day and 200-Day Simple Moving Average (SMA). This shows the coin’s strong bullish momentum.<\/span><\/p>\n

Also, the Relative Strength Index (RSI) is at 56.07, projecting a potential for movements toward the overbought region (above 70). <\/span><\/p>\n

These signals indicate a good time to sell SOL, considering the indicators on the chart.<\/span><\/p>\n

However, the asset’s Moving Average Convergence Divergence (MACD) indicator is below the signal line and has red bold histogram bars. <\/span><\/p>\n

This shows the possibility of fluctuation today. As such, investors may need to exercise patience or initiate strategic trade setups to support their decisions.<\/span><\/p>\n

Optimism (OP)<\/b><\/h2>\n

Optimism (OP) is up by 2.50% in the last 24 hours, trading at $1.52. Its 24-hour trading volume has also increased by 36.09% to $119 million. <\/span><\/p>\n

This surge in OP’s could result from the Optimism ecosystem’s recent developments and news events.<\/span><\/p>\n

A fintech organization, Eco, has introduced a web2 peer-to-peer crypto wallet, Beam, that utilizes Optimism and Coinbase’s Base network to facilitate decentralized transactions and on-chain payments.<\/span><\/p>\n

 Users have the convenience of sending or receiving cryptocurrency through a QR code or a link, with fixed fees payable in the specific asset being sent.<\/span><\/p>\n

During its launch, the Beam wallet supports ECO and USDC cryptocurrencies. With notable backing from investors such as Andreessen Horowitz, Coinbase Ventures, Founders Fund, Lightspeed Venture Partners, and Pantera Capital, Eco brings added confidence to its initiative.<\/span><\/p>\n

Beam provides users with the inherent benefits of cryptocurrency, including censorship resistance, privacy, and self-custody, all seamlessly integrated into a user-friendly payment system.<\/span><\/p>\n

Following this recent development, there are speculations that OP will continue to surge as Beam will bridge the gap in decentralized, on-chain transactions on Layer 2 protocols like Coinbase’s Base and Optimism.<\/span><\/p>\n

With the integration of account abstraction (EIP-4884), Beam offers advanced functionalities such as smart contract capabilities and support for features like wallet social recovery and multi-factor authentication.<\/span><\/p>\n

Daily Transactions Spiked on Optimism<\/b><\/h3>\n

In addition to factors that may influence OP’s surge, <\/span>data<\/span><\/a> from Dune Analytics show that the layer-2 protocol, Optimism, has spiked above its competitor, Arbitrum, for the first time in daily transactions within six months.<\/span><\/p>\n

Optimism recorded 844,290 transactions on July 25, surpassing Arbitrum’s 630,534 total transactions. This surge can be attributed to Worldcoin’s launch (WLD), the cryptocurrency AI organization established by Chat GPT’s Sam Altman. It operates on the Optimism blockchain.<\/span><\/p>\n

Optimism has been making notable strides in cryptocurrency, with a surge in transactions and increasing adoption by projects like Worldcoin and Velodrome. <\/span><\/p>\n

Despite impending sell pressure and challenges, the platform’s native token (OP) has shown resilience and growth. <\/span><\/p>\n

As it continues to evolve and gain momentum, Optimism’s innovative features and increasing user-friendly applications may position it as a significant player in the decentralized finance (DeFi) and blockchain ecosystem. <\/span><\/p>\n

Has OP’s Downtrend Stopped?<\/b><\/h3>\n

\"Top<\/p>\n

In the chart above, Optimism (OP) will likely round off its downtrend today. The asset trades below the 200-Day Simple Moving Averages (SMA), representing a long-term bearish market trend.<\/span><\/p>\n

Also, the Moving Average Convergence Divergence (MACD) indicator is below the signal line with bold red bars on the histogram. This highlights the prevalent bearish momentum on OP’s price.<\/span><\/p>\n

The Relative Strength Index (RSI) is at 48.44, pointing downward and projecting a flattening movement by the end of today. This shows a neutral market is moving to the oversold region from which a trend reversal could occur.  <\/span><\/p>\n

Based on these signals, traders may buy OP at this low price. Optimism (OP) trades above the 50-Day SMA, indicating a short-term bullish market trend depicting that the downtrend might soon end. <\/span><\/p>\n

Chainlink (LINK)<\/b><\/h2>\n

Chainlink is a decentralized oracle network enabling blockchains to safely interface with external data feeds, payment systems, and events. This brings sensitive off-chain data that complex smart contracts need to become the leading practice for digital agreements.<\/span><\/p>\n

Chainlink’s native token, LINK, has faced rallies and dips since it joined the crypto market. In the past month, Chainlink whales accumulated nearly 11 million LINK tokens worth $77 million by estimate. <\/span><\/p>\n

The market’s response to this move caused a shift to the $6 level. Since the start of July, the token has experienced more surges and more positive market responses.<\/span><\/p>\n

Today July 27, Chainlink has <\/span>increased by 4.97%<\/span><\/a> to $7.95. Also, its 24-hour trading volume has surged by 77.78% to nearly $435 million.<\/span><\/p>\n

While LINK is poised to continue its surge, there are expectations that new developments or news events like Matrixdock’s <\/span>collaboration with<\/span><\/a> Chainlink could support the token’s growth.<\/span><\/p>\n

Matrixdock is a digital assets platform that provides access to real-world assets via tokenization. Its integration of Chainlink’s Proof of Reserve (PoR) has been completed. As an integration on the Ethereum mainnet, Matrixdock intends to improve the transparency of its T-Bill offering, Tokenized Treasury Bill.<\/span><\/p>\n

The integration facilitates Matrixdock’s primary token, the Short-term Treasury Bill token (“STBT”). It will allow stablecoin holders to gain exposure to U.S. Treasury securities with maturities of up to 6 months and reverse repurchase agreements backed by U.S. Treasury securities.<\/span><\/p>\n

With Chainlink PoR (Proof of Reserve), Matrixdock stakeholders gain the capability to oversee and verify reserves, confirming that the tokenized T-Bills offering remains adequately backed by U.S. Treasury securities.<\/span><\/p>\n

The collaboration between Matrixdock and Chainlink represents a significant step forward in decentralized finance (DeFi). <\/span><\/p>\n

By leveraging Chainlink’s powerful oracle network and PoR technology, Matrixdock enhances transparency and trust in its tokenized T-Bills offering.<\/span><\/p>\n

This integration allows stakeholders to monitor reserves confidently and ensures that U.S. Treasury securities fully support the offering. <\/span><\/p>\n

As more projects embrace such partnerships, the DeFi ecosystem continues to mature, bringing innovative solutions and increased security to the crypto space.<\/span><\/p>\n

Is LINK’s Downtrend A BUY Signal?<\/b><\/h3>\n

\"Top<\/p>\n

The chart above shows a downtrend in the asset market. A red candle stick forms below the last red candle, indicating increased selling pressure. <\/span><\/p>\n

LINK’s Relative Strength Index (RSI) is at 51.68, moving toward the oversold region (below 30). This shows the possibility of price loss for the coin before the weekends.<\/span><\/p>\n

Also, the asset’s Moving Average Convergence Divergence (MACD) indicator is below the signal line with red histogram bars. This depicts a strong bearish momentum on LINK’s price today.<\/span><\/p>\n

The coin’s low price today may project a BUY signal for traders. However, LINK still trades above the 50-Day and 200-Day Simple Moving Average (SMA), which supports the asset. This means the asset can regain its bullish stance before the end of July.<\/span><\/p>\n

Pepe (PEPE)<\/b><\/h2>\n

PEPE (PEPE) crypto is an innovative digital currency project inspired by the internet meme character Pepe the Frog. Operating on the Ethereum blockchain, it embraces the power of blockchain technology to create a unique and decentralized ecosystem that merges cryptocurrency with meme culture.<\/span><\/p>\n

By leveraging smart contracts on the Ethereum network, PEPE (PEPE) ensures secure and transparent transactions, benefiting from Ethereum’s robust infrastructure and compatibility with various decentralized applications (dApps). <\/span><\/p>\n

The project’s main goal is cultivating a vibrant and engaged community around the PEPE (PEPE) crypto ecosystem.<\/span><\/p>\n

A key feature of PEPE (PEPE) is its decentralized meme creation and sharing platform, allowing users to trade unique digital assets representing memes, fostering self-expression and community interaction. <\/span><\/p>\n

The project also hosts a decentralized marketplace for buying and selling these meme-based tokens, creating a dynamic economy anchored in meme culture.<\/span><\/p>\n

PEPE (PEPE) embraces gamification to enhance user engagement, offering meme contests, interactive games, and rewarding activities, ensuring a lively and active community.<\/span><\/p>\n

Beyond its crypto endeavors, PEPE (PEPE) aims to make a positive social impact by allocating resources to charitable causes that resonate with the community’s values.<\/span><\/p>\n

PEPE (PEPE) crypto bridges the gap between cryptocurrency and meme culture, offering a platform for creativity, community building, and social good. <\/span><\/p>\n

As the project continues to evolve, it seeks to carve a unique niche in the cryptocurrency space by leveraging the powerful influence of memes and engaging users through its decentralized ecosystem.<\/span><\/p>\n

Today, the price of PEPE has <\/span>surged by 1.88%,<\/span><\/a> trading at $0.000001334 in the last 24 hours. Furthermore, its 24-hour trading volume is up by 46.07% to $147 million.<\/span><\/p>\n

Considering PEPE’s aim and nature, it has gained popularity and widespread adoption. This could also be the factor behind its persistent surge in the crypto market.<\/span><\/p>\n

PEPE Goes Oversold Amid Bearish Momentum<\/b><\/h3>\n

\"Top<\/p>\n

In the 15-minute chart above, PEPE trades below the key moving average (Bollinger Bands). This shows that the asset is going oversold by the end of today.<\/span><\/p>\n

The Relative Strength Index (RSI) is 25.99 in the oversold region (below 30). <\/span><\/p>\n

The asset’s market price is descending in the chart above, with four consecutive red candle sticks projecting a downtrend. <\/span><\/p>\n

Again, PEPE’s Moving Average Convergence Divergence (MACD) indicator is below the signal line and has red histogram bars. This shows the coin’s strong bearish momentum.<\/span><\/p>\n

Considering the low price of PEPE, this could be a good time to buy the coin ahead of a potential rally that may occur by the end of the week. <\/span><\/p>\n

Maker (MKR)<\/b><\/h2>\n

Maker (MKR) is down by 2.02% in the last 24 hours, priced at $1,157. This slight drop could be attributed to Paradigm’s deposit of huge MKR tokens to a prominent crypto exchange, Coinbase, for profit-taking.<\/span><\/p>\n

A prominent investment firm, Paradigm Capital, recently deposited MKR tokens to Coinbase amidst a market pump. <\/span><\/p>\n

This move follows a similar action by Andressen Horowitz (a16z), another well-known venture capital firm, which deposited a substantial amount of MKR tokens to Coinbase last week.<\/span><\/p>\n

Data<\/span><\/a> from Etherscan shows that Paradigm transferred $3.5 million worth of MKR tokens nearly 24 hours ago. <\/span><\/p>\n

This decision seems to respond to a16z’s recent maneuver, where they deposited around $9.7 million worth of MKR tokens to Coinbase, followed by another deposit of $7 million.<\/span><\/p>\n

Nevertheless, MKR’s 24-hour trading volume is still up by 26.75%, recording over $134 million today.<\/span><\/p>\n

Maker (MKR) is a pioneering cryptocurrency in decentralized finance (DeFi), which has garnered significant traction since its launch in 2015. <\/span><\/p>\n

On the Ethereum blockchain, MKR serves as the governance token for the MakerDAO platform, a decentralized autonomous organization facilitating the creation and management of the stablecoin DAI.<\/span><\/p>\n

MakerDAO is a decentralized lending platform allowing users to generate DAI stablecoins by collateralizing their crypto assets. <\/span><\/p>\n

DAI is specifically designed to maintain a stable value close to one United States Dollar (USD) through an algorithmic process, making it an attractive option for DeFi users seeking stability amidst the volatile cryptocurrency market.<\/span><\/p>\n

Users deposit crypto assets<\/a>, such as Ethereum (ETH), to generate DAI into a Collateralized Debt Position (CDP) smart contract. The value of the collateral must exceed the amount of DAI generated, ensuring the stability of the DAI stablecoin by imposing a minimum collateralization ratio.<\/span><\/p>\n

The Maker (MKR) token is crucial in the MakerDAO ecosystem. MKR holders possess the power to govern the platform and make important decisions through a decentralized voting mechanism. <\/span><\/p>\n

These decisions encompass adjusting collateralization ratios, setting stability fees (interest rates on generated DAI), and other parameters influencing the platform’s operations.<\/span><\/p>\n

However, MKR’s governance role also entails significant responsibility. Suppose a CDP becomes under-collateralized due to a drop in collateral value. In that case, MKR tokens may be auctioned to cover the outstanding DAI debt, making MKR holders financially accountable for the platform’s stability.<\/span><\/p>\n

MKR’s value directly correlates with the success and adoption of the MakerDAO platform. As demand for DAI and DeFi solutions continues to grow, MKR’s utility and potential value increase accordingly.<\/span><\/p>\n

The MakerDAO platform and the DAI stablecoin have gained substantial recognition in DeFi, offering users a decentralized and stable alternative to traditional financial services. <\/span><\/p>\n

Maker (MKR) has emerged as a significant player in the cryptocurrency market, attracting attention from investors and developers keen on participating in the expanding DeFi ecosystem.<\/span><\/p>\n

Has MKR Found Support?<\/b><\/h3>\n

\"Top<\/p>\n

The chart above shows that MKR trades between the 50-Day and 200-Day Simple Moving Average (SMA). This shows the potential for a price rebound by the end of July.<\/span><\/p>\n

MKR’s Moving Average Convergence Divergence (MACD) is below the signal line and has a faded red histogram bar. This shows that the coin’s bearish momentum is weakening today. <\/span><\/p>\n

Also, the Relative Strength Index (RSI) is at 35.13, moving in the neutral region. Considering the green candle stick formation in the chart, MKR is prone to increased buying pressure. This shows the coin has found support and could touch new prices before today ends.<\/span><\/p>\n

While this could signal a BUY time, traders may wait for the RSI to decide its movement.<\/span><\/p>\n

Wall Street Memes (WSM)<\/b><\/h2>\n

Wall Street Memes<\/span><\/a> (WSM) has become a noteworthy cryptocurrency within the crypto community. <\/span><\/p>\n

Its primary aim is to develop a meme coin representing anti-capitalism in the Web3 era, challenging traditional Wall Street players while bringing together small investors. <\/span><\/p>\n

The project strongly emphasizes community involvement, valuing collective decision-making and inclusivity as essential elements of its ethos.<\/span><\/p>\n

With an anti-capitalist narrative at its core, Wall Street Memes seeks to disrupt the dominance of conventional Wall Street institutions, striving to establish a more equitable financial system. <\/span><\/p>\n

By empowering small investors and offering accessible opportunities, the project promotes financial inclusivity, encouraging wider participation in the crypto market.<\/span><\/p>\n

As a meme coin, Wall Street Memes fully embraces humor, internet culture, and the trends driven by memes. It skillfully employs memes to engage and connect with the community, fostering a sense of camaraderie and shared values among its participants.<\/span><\/p>\n

Wall Street Memes envisions itself as part of a decentralized movement, empowering individuals and advocating for a more inclusive and equitable financial system. <\/span><\/p>\n

The project continues to make waves in the evolving crypto landscape through its distinctive features and unwavering commitment to its values.<\/span><\/p>\n

$WSM Presale<\/b><\/h3>\n

The project’s presale is still live and has recorded an astonishing $18 million since it started. $WSM is selling at $0.0325 and will increase to $0.0328 in the next few days. It is expected to raise more than $19 million by the end of the presale. <\/span><\/p>\n

How to Purchase $WSM<\/b><\/h3>\n