Top Crypto Gainers: Which Cryptocurrencies Experienced Significant Value Increases?
The past week was relatively quieter as several cryptocurrencies experienced a drop in price. However, there were a few cryptocurrencies that resisted the downward trend and demonstrated strong performance, experiencing significant value increases. These gainers provide important information for both investors and crypto enthusiasts. Letโs explore the top crypto gainers that saw a value increase of more than 10% in one week, according to CoinMarketCap data. Weโll delve into the reasons behind their growth and their impact on the market as a whole.
1. Ondo (ONDO)
Market cap: $99.2 million
Ondo token is the top gainer of the week, soaring by 44.63% to trade at $0.7244 today. It has a 24-hour trading volume of $228.96 and a circulating supply of 1.39 billion ONDO tokens. With a market cap of $99.2 million, ONDO ranks 99th according to CoinMarketCap. On March 21, 2022, it reached a new all-time high of $0.8162 due to BlackRockโs digital asset fund spotlight and expansion in the Asia Pacific region.
The spike in ONDO token prices can also be attributed to increased attention from major investors known as โwhales.โ Santimentโs crypto analysis tool reveals an increase in whale transactions, with at least $100,000 worth of ONDO being traded in 24 hours. This rise in engagement from major investors can foreshadow increased price fluctuations and have a substantial impact on market trends.
2. Toncoin (TON)
Market cap: $17.36 billion
Toncoin closely follows ONDO as the second top gainer, with a value increase of 38.5%. It currently trades at $4.99 with a 24-hour trading volume of $355,595,787. TON has a circulating supply of 3.47 coins and a market cap of $17.36 billion, claiming the 11th position.
The Ton Foundationโs announcement of a distribution plan to distribute $115 million worth of Toncoin through its Open League initiative on April 1st contributed to a 10% surge in Toncoinโs price. This initiative aims to incentivize and reward different user segments within the Telegram community, fostering competition, innovation, and community engagement within the Ton ecosystem.
3. Stacks (STX)
Market cap: $5.1 billion
Stacks recorded a 30.56% gain in its value, reaching $3.53 today. It has a trading volume of $269.5 million, indicating increased investor interest in the token. With a circulating supply of 1.45 billion STX, it boasts a market cap of $5.1 billion, ranking 46th. Stacks reached an all-time high of $3.69 recently on March 22, 2024.
Stacks is a Bitcoin layer for smart contracts that allows smart contracts and decentralized applications to utilize Bitcoin as an asset and finalize transactions on the Bitcoin blockchain. The recent rise in STXโs market price can be attributed to the approval of a significant upgrade for the Stacks network. The Stacks community voted overwhelmingly in favor of this upgrade, showing dedication towards the projectโs development.
4. Fantom (FTM)
Market cap: $3 billion
Fantom witnessed a 23.5% growth in its value, now trading at $1.08. The token continues to gain the attention of investors, with a trading volume of $426.99 million. With a market cap of $3 billion, FTM is ranked 43rd and has a circulating supply of 2.8 billion coins.
Fantom is a directed acyclic graph (DAG) smart contract for DeFi services with a unique consensus algorithm. Its token FTM addresses issues like transaction speed, reducing it to under two seconds on smart-contract platforms. The recent surge in Fantomโs price can be attributed to co-founder Andre Cronjeโs return on social media, promoting the projectโs achievements and highlighting its technological advancements.
5. JasmyCoin (JASMY)
Market cap: $1.04 billion
JasmyCoin saw a growth of 18.49% over the past week, currently trading at $0.02104 with a trading volume of $128.26 million. It has a market cap of $1.04 billion and holds the 95th position with a circulating supply of 49.3 billion coins.
The recent value surge of JasmyCoin can be attributed to regulatory changes in Japan that allow direct investments in digital assets. These changes make investing in cryptocurrency projects easier, promoting domestic funding to Web3 companies and fostering innovation and growth in Japanโs cryptocurrency sector.
Conclusion: Resilience and Potential of Cryptocurrencies
These top crypto gainers demonstrate the resilience and potential of cryptocurrencies. However, itโs important to proceed with caution when making investment choices and thoroughly investigate potential opportunities before diving in. The constantly changing crypto landscape is inherently volatile, so being well-informed and watchful is crucial for navigating the market.
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