Join our Telegram channel to stay up to date with the latest news coverage. Four different coins in the crypto market are shining as today’s top gainers. Filecoin leads the pack with a staggering 40% gain over the past week, helped by its integration with Solana. Fetch.ai follows closely behind with a gain of 12% over the past 24 hours, fueled by anticipation for Nvidia’s earnings. Klaytn takes center stage as Asia’s largest Web3 network with its merger with the Finschia blockchain. Finally, Conflux is gaining notable attention as a layer-one blockchain, gaining 6.60% and entering into a strategic partnership with RAK DAO. These coins offer attractive opportunities for investors seeking to make clear gains in today’s crypto markets.
Today's Biggest Crypto Gainers - Ranking
In the crypto space, 18% of cryptocurrencies rose, presenting a diverse picture. Leading the way is Arweave, which has grown a staggering 25.59% in the past 24 hours. In contrast, Echelon Prime recorded a significant loss of -13.60% in the same period. Meanwhile, the presale of Sponge V2 attracted a lot of attention, with an annualized yield of more than 191% and 6 billion SPONGE tokens pledged.
1. Filecoin (FIL)
Filecoin is one of the leading cryptocurrencies today, seamlessly integrated with the Interplanetary File System (IPFS) by securing critical data through decentralized storage. Governed by the community, it actively fosters the development of cloud storage solutions. FIL has several advantages. It has a competitive market, which reduces the cost of service. A global community of more than 20,000 users. It also has decentralized protection capabilities to resist single-point attacks. The coin recently surged to about $7.7, with an increase of 40% in the past week. This rally is due to the integration of Filecoin with Solana. Crypto influencer Altcoin Daily announced the news to his 1.5 million followers. FIL's tweet confirmed the integration and emphasized the potential for expanding the application space. By leveraging Filecoin's storage capabilities, Solana aims to achieve secure expansion.
In 2023, Filecoin's storage data volume grew 3.8 times to a staggering 1,800 PiB, with non-Web3 players making significant contributions. How big do you think Filecoin's data storage will be by the end of 2024?
Its current price is $7.66, with a gain of 22.09% in the past 24 hours and a market cap of $3.91 billion. Market sentiment is bullish, with the Greed/Fear Index at 72 (Greed). Despite a price drop of 11% in the past year, Filecoin has outperformed the top 100 crypto assets with 26%. FIL is trading 56.33% above its 200-day simple moving average and the 14-day relative strength index is 75.15. It is traded against a variety of fiat currencies, has high liquidity, and is an attractive investment.
2. Fetch.ai (FET)
Fetch.ai, another top gainer of the day, emerged in 2017 and conducted an IEO through Binance in March 2019. It pioneered an open decentralized machine learning network, democratizing access to artificial intelligence. Fetch.ai's utility token FET plays a key role in the creation and deployment of digital twins, smart contracts, and oracles. Staking FET can verify nodes and ensure network integrity. Its technology stack consists of four key elements: Digital Twin Framework, Open Economic Framework, Digital Twin Metropolis, and Fetch.ai Blockchain. These components implement the marketplace, search functionality, smart contracts, and secure consensus.
FET’s recent performance shows a gain of 12% in the last 24 hours and 45% in the last week. Fetch.ai’s momentum coincides with the heat of AI technology giant Nvidia. Both are related to the expectations of Nvidia’s fourth quarter 2023 earnings. Nvidia’s stock price increase is expected to coincide with its financial update. This rally could have a significant impact on the AI and cryptocurrency markets, including FET and other AI-related tokens. Positive reports could spark investor enthusiasm, which in turn boosts investment in cryptocurrencies dedicated to AI.
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3. Klaytn (KLAY)
Developed by Kakao, Klaytn (KLAY) is the world's first layer blockchain and is at the forefront of driving blockchain adoption, facilitating diverse application scenarios. These range from decentralized finance to real-world assets, entertainment, gaming, and even the Bank of Korea's central bank digital currency pilot project.
It currently has over 1 billion transactions and over 300 decentralized applications. Its IBFT consensus algorithm ensures the correctness of transactions, which is essential for large-scale applications. The most recent development is the merger of Klaytn with the Finschia blockchain, marking the largest Web3 network in Asia. Approved by over 90% of Klaytn governance members and 95% of Finschia members, the merger means compatibility with Ethereum and Cosmos. The integrated foundation in Abu Dhabi promises to represent both networks with equal representation.
The alliance, which leverages partnerships with messaging giants such as LINE and Kakao, will reach more than 250 million potential Web3 users in Asia. Dubbed “Project Dragon,” the integration is expected to complete the transition in the second quarter of this year.
In terms of performance, KLAY is currently trading at $0.239267 with a market cap of $835 million. Despite falling 28% over the past year, it has outperformed among the top 100 crypto assets. However, 53% of trades in the past 30 days were positive. Considering its recent performance indicators and the news of the merger, KLAY becomes an attractive investment opportunity.
4. Conflux (CFX)
Conflux is another contender for the highest gain on the day, operating as a layer-one blockchain. It prioritizes scalability, decentralization, and security for decentralized applications (dApps) and Web 3.0 infrastructure. In addition, it facilitates fast, low-cost, and congestion-free asset transfers. The Tree-Graph consensus mechanism used by CFX combines the Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithms, ensuring scalability without sacrificing decentralization.
CFX was recently trading at 6.60% with gains in the past 24 hours and a market cap of $933 million. Risk checks show bullish investor sentiment despite a 28% price drop in the past year. It has outperformed 43% of assets in the top 100 crypto assets by market cap. It is slightly behind Bitcoin and Ethereum but is trading 48.96% above its 200-day simple moving average, with a relative strength index of 53.41, and 16 of the past 30 days have been positive. The 30-day volatility is 8%, indicating a steady performance.
Conflux Network’s investment appeal has been enhanced by its latest collaboration with RAK Digital Assets Oasis (RAK DAO), which aims to promote friendly blockchain regulations, develop talent, and integrate blockchain technology in the Middle East.
5. Sponge V2 (SPONGE)
SPONGE coin has emerged as a rising star in the evolving cryptocurrency market. Its original version attracted investors’ attention by achieving an astonishing 100x growth, and then came the game-changing moment – a staggering $100,000 airdrop that shook up the crypto space. SPONGE has made a comeback in the form of its V2 version, building on its previous success. With a total supply of 40.4 billion tokens, V2 introduces more rewards. These rewards will last for four years and include staking incentives, marketing funds, and funds for playing earn-yield games. This evolution promises to revolutionize the memecoin market.
But the innovation doesn’t stop there. SPONGE V2 adopts a unique transaction fee mechanism that rewards token holders with a percentage of each transaction. In addition, it introduces a disruptive staking-bridging model that allows V1 holders to smoothly transition to V2 and receive potential staking rewards at the same time.
In summary, thanks to loyal community support and ready to hit major milestones, SPONGE V2 is expected to see explosive growth in 2024, providing lucrative opportunities for savvy investors eager to ride the memecoin wave.
Let’s temporarily put aside the cryptocurrency with the highest gain of the day and focus on the latest news on the market. Bitcoin’s price has tripled since 2023. Driven by optimism in specialized US exchange-traded funds, it has risen for four consecutive weeks as of February 18. Historical data hints at further gains, possibly to $78,000.
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