There are always a category of leaders and losers in the daily cryptocurrency market. Let's look at the highlights of the leaders. Toncoin from the Telegram blockchain stands out with a recent increase of 20.36% to $2.57, ranking 15th in the cryptocurrency. Litecoin, founded in 2011, excels in fast transactions and privacy enhancements, and recently increased by 10.64% to $82.15.
Solana, which offers fast DeFi solutions but faces disruptions and venture capital issues, hit $124.51 despite gains of 14.30%. Tezos, which pioneered the evolution of blockchain, traded at $1.26 and gained 9.27%, although underperforming BTC and ETH. In addition, Frog Wif Hat, which caused chaos in the memecoin space through fair launch and locked liquidity, gained 54.49% to $0.001561.
Today's Biggest Gainers - Ranking
In the past 24 hours, the trading volume of the cryptocurrency market reached $712.33 billion. The market sentiment remains bullish, and the Fear & Greed index shows that it is currently at a high of 80. Among various cryptocurrencies, BONK became the largest gainer with a gain of 63.51%, while Orbler saw a significant drop - 11.79%. The total market capitalization reached a solid $2.33 trillion, and Bitcoin accounted for 53.05% of the market share with a gain of $63239 and a market value of $1.24 trillion. However, let's talk more about the four currencies that can be among the leaders.
1. Toncoin (TON)
Toncoin (TON) emerged in 2018 as Telegram's decentralized blockchain, and was renamed The Open Network (TON) after being taken over by the TON Foundation. It is the native cryptocurrency for transactions within the network. TON aims to provide fast, transparent and secure payment services with minimal fees.
Its Proof-of-Stake (PoS) consensus model ensures scalability and reliability. Services provided by the network include TON Wallet, TON Services for dApps, TON Storage for encrypted data, TON Proxy for decentralized VPN, and TON DNS for website compatibility.
Recent news revealed that Telegram has adopted the TON blockchain as its advertising platform, promising to distribute 50% of advertising revenue to channel owners. This strategic move highlights Telegram’s commitment to TON’s capabilities and aims to drive the platform’s growth.
This integration has resulted in a significant increase in the value of TON, with a 24-hour gain of 20.36% to $2.57. The market cap is $8.91 billion, making TON the 15th largest cryptocurrency. The growing trading volume reflects the growing confidence in TON’s potential within the Telegram ecosystem, bringing positive development trends to both platforms.
2. Litecoin (LTC)
Litecoin is a cryptocurrency that enables fast, secure and low-cost transactions through blockchain technology. Launched by Charlie Lee in 2011, Litecoin is known as a "light version of Bitcoin" with a shorter block time of 2.5 minutes and extremely low transaction fees. Its widespread acceptance among merchants and users has consolidated its position among the top cryptocurrencies.
Litecoin is unique in its simplicity, fast transaction speeds, and negligible fees, making it a practical alternative to Bitcoin, especially in regions where transaction costs are critical. In addition, Litecoin's MimbleWimble testnet, introduced in 2020, promises to provide users with better privacy features.
In terms of performance metrics, its current price is $82.15, with gains of 10.64% in the past 24 hours. However, Litecoin has lost 14% in the past year, underperforming Bitcoin and Ethereum. Although 67% of the past month have been positive trading days, investors should note its modest market dominance of 0.26% and relatively high liquidity ratio of 0.3949.
3. Frog Wif Hat (FWIF)
Frog Wif Hat quickly entered the memecoin space through a fair launch on Uniswap in February 2024. Featuring a quirky frog mascot wearing a beret, FWIF aims to appeal to crypto and meme enthusiasts, taking inspiration from successful predecessors such as Dogecoin and Shiba Inu.
Unlike many meme coins, FWIF prioritizes fairness through fair issuance, ensuring equal access in the initial stages. Most of the liquidity pool is securely locked to enhance trust and prevent potential sell-offs. FWIF's supply is capped at 1 billion tokens, potentially increasing long-term value through scarcity.
FWIF is currently priced at $0.001561, up 54.49% in the past 24 hours, with a market cap of $1561721. It plans to integrate with the Solana blockchain in the second phase and be listed on major exchanges, which could greatly increase liquidity and trading volume. These developments are in line with FWIF's roadmap, which includes investing in high-end NFT art to take advantage of the recovery of NFT trading volume in early 2024.
4. Solana (SOL)
Solana is a blockchain project focused on decentralized financial solutions. It uses a hybrid consensus model that combines Proof-of-History (PoH) and Proof-of-Stake (PoS) to improve scalability. The protocol prioritizes accessibility to decentralized finance for a wide range of users, catering to the needs of small traders and institutions.
Its key innovation lies in its Proof of History consensus, which improves scalability and usability by significantly reducing transaction and smart contract processing time. This feature has attracted the interest of institutional investors due to its fast processing capabilities.
Although Solana has been praised for its speed and performance, it has faced several challenges, including the impact of intermittent outages on its aspirations to compete with Ethereum. In addition, concerns have been raised about its ecosystem favoring venture capitalists rather than fair token economics.
Despite these challenges, Solana's price has risen by 4,54% over the past year, surpassing the top 100 crypto assets by 90% and surpassing Bitcoin and Ethereum. Currently trading at $124.51, Solana maintains bullish investor sentiment, with high liquidity and a market dominance of 2.39%. However, investors should consider the project's strengths and weaknesses before making a decision.
5. Tezos (XTZ)
Tezos is a blockchain network similar to Ethereum, focused on advanced infrastructure and continuous evolution without hard forks. XTZ holders can participate in protocol upgrades by voting, ensuring a decentralized governance system. Tezos prides itself on its security. It is upgradeable and has a smart contract language for high-value use cases, ensuring longevity and adaptability.
Tezos has a unique approach to staking, known as "baking". Participants join the network governance by staking 8,000 XTZ, promoting honesty through financial incentives. The process involves a four-step voting process that lasts about 23 days, and proposals are implemented after receiving more than half of the support.
In addition, Tezos stands out for being adopted by well-known institutions such as Societe Generale for central bank digital currency experiments. Large exchanges like Binance and Coinbase offer staking for Tezos. It allows users to receive returns based on their XTZ holdings, a rare feature among other digital assets.
At the current price of $1.26, Tezos has gained 9.27% in the past 24 hours and has a market dominance of 0.05%. Despite gaining 8% in the past year, it has underperformed compared to Bitcoin and Ethereum. Trading above its 200-day simple moving average at 35.43%, Tezos maintains bullish investor sentiment with high liquidity and moderate volatility.
Amid the global crypto trend, some great moments came from fond memories. Web3 and DeFi industry leaders shared inspiring stories via social media to celebrate Black History Month.
Biggest cryptocurrency gainers
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