{"id":536839,"date":"2024-06-17T12:29:05","date_gmt":"2024-06-17T12:29:05","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=536839"},"modified":"2024-06-17T12:29:05","modified_gmt":"2024-06-17T12:29:05","slug":"top-crypto-gainers-today-jun-17-convex-finance-jasmycoin-tellor-pendle","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/top-crypto-gainers-today-jun-17-convex-finance-jasmycoin-tellor-pendle","title":{"rendered":"Top Crypto Gainers Today Jun 17 – Convex Finance, JasmyCoin, Tellor, Pendle"},"content":{"rendered":"

Before we explore today’s top crypto gainers, it’s worth noting a significant development in the market. Australia’s largest stock exchange, the ASX, has approved its first spot Bitcoin exchange-traded fund (ETF), the <\/span>VanEck Bitcoin ETF (VBTC)<\/span><\/a>. This milestone will launch on June 20, underscoring a growing acceptance and demand for Bitcoin investment vehicles within regulated markets.<\/span><\/p>\n

Furthermore, the approval of VBTC represents a step forward in providing investors with regulated and transparent avenues to access cryptocurrencies. It also reflects broader trends in global financial markets towards embracing digital assets. Now, let’s uncover the standout performers in today’s crypto market.<\/span><\/p>\n

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

Today, the global market cap stands at $2.55 trillion, reflecting a slight 0.56% change in the last 24 hours and a remarkable 129.85% surge compared to a year ago. Despite this growth, market sentiment leans towards Greed, with the Fear & Greed Index at 71. This sentiment is mirrored in the performance of individual cryptocurrencies: only 28% have seen gains in the past day. Convex Finance, JasmyCoin, Tellor, and Pendle stand out among today’s <\/span>top gainers<\/span><\/a>, each known for their distinct projects and price increases amid broader market fluctuations.<\/span><\/p>\n

1. <\/b>Convex Finance (CVX)<\/b><\/h3>\n

Convex Finance is a DeFi protocol designed to optimize earnings for Curve liquidity providers. Instead of staking liquidity directly on Curve, providers stake with Convex to earn enhanced CRV and liquidity mining rewards. This setup allows CRV stakers to achieve better capital efficiency, positioning Convex as a strategic player in the “Curve wars.”<\/span><\/p>\n

By pooling assets from individual stakers, Convex enables even small investors to benefit from boosted rewards that are otherwise hard to attain. The protocol aims to accumulate as much total value locked (TVL) as possible to gain significant influence over Curve Finance, the largest decentralized exchange (DEX) by total value locked. Controlling a substantial stake in Curve Finance allows Convex to influence interest rates, benefiting its users and the broader ecosystem.<\/span><\/p>\n

\n

With the massive overhang of $CRV<\/a> collateral from Mitch liquidated into the market it’s just fundamentals from here on out for $CVX<\/a><\/p>\n

Eventually ETH with have its cycle moment and moon, and the wealth effect from BTC and ETH holders will lead to a rotation into other coins <\/p>\n

Which…<\/p>\n

— Jason Hitchcock (@JasonHitchcock) June 16, 2024<\/a><\/p><\/blockquote>\n