A Broad Range of Cryptocurrencies Rally as Bitcoin and Ethereum Trade Flat
A broad range of cryptocurrencies continued their price rallies on Feb. 22, even as Bitcoin and Ethereum traded flat. This suggests that investors are rotating capital across altcoins to catch gains. CoinMarketCap reported that at least five crypto tokens gained over 20% in 24 hours, while CoinGecko noted a 2% increase in the total valuation of crypto despite slight losses for the two leading tokens.
Top Crypto Gainers on Feb. 22
- SingularityNET (AGIX): The blockchain AI marketplace token led all gainers with a 39% jump in market price. This surge was part of a bullish momentum in the AI coin sector, which has seen a 40% increase in the past week.
- Worldcoin (WLD): The native token of Sam Altman’s eye-scanning ID project rose by 36%, reaching over $8 and setting consecutive all-time highs. Speculation about major Worldcoin announcements may have fueled this increase.
- Fetch.ai (FET): This AI token surged by 23% in the past day, achieving a new all-time high. Fetch.ai democratizes access to machine learning networks and global data sets through a crypto economy.
- The Graph (GRT): The crypto indexing protocol saw a 23% price increase. It runs on top of Ethereum and allows users to query data and publish open APIs called subgraphs.
- RenderToken (RNDR): The native crypto for distributed GPU network Render jumped by 22% and is now only 12% away from its 2021 all-time high. Render’s platform connects mining operations with studios and creators seeking extra GPU resources.
Hot Take: Altcoins Shine as Bitcoin and Ethereum Consolidate
While Bitcoin and Ethereum traded flat, a range of altcoins experienced significant price rallies. This suggests that investors are diversifying their portfolios and seeking opportunities in alternative cryptocurrencies. SingularityNET, Worldcoin, Fetch.ai, The Graph, and RenderToken were among the top gainers on Feb. 22, with each token experiencing notable increases in market price.
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