{"id":560948,"date":"2024-08-05T14:15:41","date_gmt":"2024-08-05T14:15:41","guid":{"rendered":"https:\/\/insidebitcoins.com\/news\/auto-draft"},"modified":"2024-08-05T14:15:31","modified_gmt":"2024-08-05T14:15:31","slug":"top-crypto-gainers-today-aug-05-fasttoken-kujira-tether-euro","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/top-crypto-gainers-today-aug-05-fasttoken-kujira-tether-euro","title":{"rendered":"Top Crypto Gainers Today Aug 05 – Fasttoken, Kujira, Tether EURO"},"content":{"rendered":"

In a market reeling from a bout of risk aversion, <\/span>cryptocurrencies faced significant declines<\/span><\/a> today. For instance, Bitcoin plummeted over 16%, trading at $52,680 after an 11% drop, marking the steepest fall since the FTX exchange collapse. Similarly, Ether suffered, shedding over a fifth of its value before stabilizing at $2,342, its worst drop since 2021.<\/span><\/p>\n

Moreover, these declines are part of a broader global stock selloff fueled by concerns over the economic outlook. Additionally, geopolitical tensions in the Middle East and skepticism about heavy investments in artificial intelligence contribute to the market’s unease. Despite the turmoil, some investors view this as a buying opportunity. They believe that the prospect of a less restrictive monetary policy could be beneficial for crypto.<\/span><\/p>\n

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

In a sea of market turmoil, a few tokens are standing out and grabbing attention. Fasttoken is creating a buzz with its unique Proof of Stake and Activity (PoSA) consensus mechanism, pushing its price up even as most tokens struggle. Meanwhile, Kujira is making waves with its innovative DeFi solutions and super-fast transactions on the Cosmos network. Tether EURO is staying steady, offering stability in a stormy market. Want to know why these <\/span>top gainers<\/a> are catching the eye of investors? Let’s get into the details to discover their secrets and see what makes them stand out.<\/span><\/p>\n

1. <\/b>Fasttoken (FTN)<\/b><\/h3>\n

Fasttoken is the lifeblood of Bahamut, a cutting-edge EVM-based blockchain. Initially launched as an ERC-20 token, FTN powers the SoftConstruct ecosystem, enabling seamless transactions across its diverse range of products and services. Bahamut’s standout feature is its Proof of Stake and Activity (PoSA) consensus mechanism.<\/span><\/p>\n

Unlike traditional systems, PoSA adds an activity parameter, measuring the gas used by a validator’s smart contract. This innovation ensures that the more active and engaged a validator is, the higher their chances of proposing blocks and earning rewards. With over 4,200 validators, 600,000 transactions, and 200,000 FTN holders, Bahamut is making waves in the blockchain world.<\/span><\/p>\n

\"FTN<\/p>\n

PoSA redefines blockchain consensus by blending traditional Proof of Stake with a focus on activity. Essentially, the more a smart contract is utilized, the greater its influence in the network. This creates a powerful incentive for developers to build high-quality, frequently used contracts. The result is a vibrant, innovative ecosystem where activity drives rewards and participation.<\/span><\/p>\n

\"FTN<\/p>\n

FTN is surging despite the current bearish crypto market, currently priced at $2.34. In the past 24 hours, it enjoyed a modest 0.56% rise, reflecting a healthy market interest. Its high liquidity, with a volume-to-market cap ratio of 0.2240, underscores its strong trading activity. However, the 14-day RSI stands at a sky-high 100.00, suggesting the token is overbought, and a price correction might be on the horizon.<\/span><\/p>\n

Over the last 30 days, FTN has seen 17 positive days, accounting for 57% of the month. Its volatility remains impressively low at 1%, adding to its appeal. Notably, it trades a great 142,102.89% above its 200-day SMA of $0.001646, showcasing a significant long-term growth trajectory. In the past year, FTN’s price has surged by 129%, outshining 78% of the top 100 crypto assets.<\/span><\/p>\n

2. <\/b>Kujira (KUJI)<\/b><\/h3>\n

Kujira is a vibrant layer 1 blockchain built on the Cosmos network. It offers a diverse range of decentralized finance (DeFi) tools and sustainable financial technology for web3 users. By combining Cosmos’ modular software development kits (SDKs) with native DApps, Kujira strikes a unique balance. Moreover, new DApps must gain governance approval, ensuring quality and security.<\/span><\/p>\n

Originally known as ORCA, it focused on liquidated collateral bids on the Terra network. However, the Terra collapse led to significant losses, prompting Kujira to create its network. This new network prioritizes sustainability and low inflation, learning from past challenges.<\/span><\/p>\n

\"KUJI<\/p>\n

Furthermore, Kujira is packed with optimizations. It uses Tendermint BFT for consensus and the Inter-Blockchain Communication (IBC) protocol for swift transactions. Block times are just 2.2 seconds, ensuring low latency. Additionally, developers enjoy seamless integrations, like the webAssembly (wasm) virtual machine and on-chain randomness. In essence, Kujira is poised to revolutionize DeFi with its innovative approach.<\/span><\/p>\n

\n

🛠️ Development Update 🛠️<\/p>\n

KujiraIndex is VERY close to launching on mainnet.<\/p>\n

Contracts are ready ✅
Final UI tests are being conducted ⌛️
Expected to go live in August 🗓️ 🚀<\/p>\n

Are you excited anon? 🐬💜 pic.twitter.com\/ai1PACc2V8<\/a><\/p>\n

— KujiraIndex 🉐 (@KujiraIndex) July 27, 2024<\/a><\/p><\/blockquote>\n