{"id":511506,"date":"2024-04-24T12:02:32","date_gmt":"2024-04-24T12:02:32","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=511506"},"modified":"2024-04-24T12:02:32","modified_gmt":"2024-04-24T12:02:32","slug":"top-crypto-gainers-today-apr-24-hedera-algorand-iota-reserve-rights","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/top-crypto-gainers-today-apr-24-hedera-algorand-iota-reserve-rights","title":{"rendered":"Top Crypto Gainers Today Apr 24 – Hedera, Algorand, IOTA, Reserve Rights"},"content":{"rendered":"

Hong Kong gears up for cryptocurrency <\/span>Exchange-Traded Funds<\/span><\/a> (ETFs), following the US trend. Moreover, Chinese asset managers prep spot-Bitcoin and Ether ETFs by April-end, echoing Hong Kong’s bid for a regulated digital assets hub. The success of this endeavour hinges on gauging demand from Chinese wealth and active Asia-Pacific crypto exchanges.<\/span><\/p>\n

However, the city faces US competition from giants like BlackRock and Fidelity. Despite initial approval, Hong Kong lacks its kind of recognition. Differences in redemption mechanisms may sway investor sentiment. Yet, ETFs offer efficiency and arbitrage opportunities, appealing to crypto natives and market makers.<\/span><\/p>\n

Biggest Crypto Gainers Today – Top List<\/b><\/h2>\n

In the past 24 hours, the crypto market recorded a trading volume of $428.30B. The prevailing sentiment, marked by a Fear & Greed Index reading of 72 (Greed), leans towards bullish optimism. 56% of cryptocurrencies have seen gains, with Hedera Hashgraph leading the charge with an impressive 58.06% surge. Meanwhile, Akash Network lags with a substantial -18.43% decline. Join us as we look into the achievements of today’s <\/span>top crypto gainers<\/span><\/a>: Hedera, Algorand, IOTA, and Reserve Rights.<\/span><\/p>\n

1. <\/b>Hedera (HBAR)<\/b><\/h3>\n

Hedera is a sustainable public network designed for decentralized applications (DApps). It offers solutions to limitations faced by older blockchain platforms. It was funded through an ICO in August 2018 and launched its mainnet in September 2019, offering its native utility token (HBAR) to investors. HBAR fuels Hedera services like smart contracts, file storage, and transactions while securing the network through staking. Hedera utilizes a unique consensus algorithm called hashgraph, enhancing speed, efficiency, and security compared to traditional blockchains.<\/span><\/p>\n

\"HBAR<\/p>\n

In recent news, Archax tokenized the BlackRock ICS US Treasury money market fund (MMF) on the Hedera (HBAR) blockchain. This collaboration with the HBAR Foundation and Ownera marks a pivotal shift in the real-world assets (RWAs) industry. It follows abrdn’s successful tokenization of its MMFs on Hedera last year, a milestone for asset management. The move is a major boost for RWAs, offering investors stability and yield. Tokenized MMFs allow instant transfer and collateral deployment, revolutionizing traditional investment methods.<\/span><\/p>\n

https:\/\/twitter.com\/HBAR_foundation\/status\/1782759384742813951<\/p>\n

Considering these developments, HBAR’s price growth is noteworthy. The token surged by 61.76% in the last 24 hours, reflecting growing investor interest. Trading 83.74% above the 200-day SMA at $0.144312, HBAR demonstrates stability and bullish momentum. It presents a balanced investment opportunity with a neutral 14-day RSI of 50.71 and moderate volatility at 13%. High liquidity, indicated by a volume-to-market cap ratio of 0.8427, also underscores its attractiveness to traders and investors.<\/span><\/p>\n

2. <\/b>Algorand (ALGO)<\/b><\/h3>\n

Algorand is a cryptocurrency founded in 2019 by Silvio Micali, a renowned computer science professor at MIT. It operates on a proof-of-stake consensus mechanism, allowing anyone to participate in the network’s consensus process. ALGO boasts fast transactions with immediate finality and supports custom assets and smart contracts.<\/span><\/p>\n

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In addition to simple peer-to-peer value transfers like Bitcoin, Algorand enables users to create custom assets known as Algorand Standard Assets (ASAs). These tokens open up possibilities for tokenizing real-world assets or issuing tokenized securities. The protocol also supports smart contracts written in TEAL, enhancing efficiency and facilitating atomic swaps for simultaneous asset transfers between parties.<\/span><\/p>\n

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Congrats on mainnet! https:\/\/t.co\/UUV6zHzPKQ<\/a><\/p>\n

— Algorand Foundation 🐍 (@AlgoFoundation) April 24, 2024<\/a><\/p><\/blockquote>\n