New data released today by market analyst Phoenix Group highlighted today’s top crypto gainers – top cryptocurrencies that recorded excellent performance today. The data is paramount as savvy investors are always on the hunt for top-performing virtual currencies to make money with such assets.
Top 10 Crypto Gainers of Today
According to the data, Gains Network (GNS), a decentralized derivatives trading platform running on top of the Polygon blockchain, emerged as the best performer in today’s crypto market. The altcoin registered a whopping 42.8%, recorded over the past 24 hours, making its price currently trading at $2.21.
Obol Network (OBOL), a distributed consensus protocol designed for Ethereum network staking, made it to the second position, with a 25.5% price rise gained from yesterday. This increase suggests robust investor confidence in OBOL and strong trading activity in the investment platform.
Ribbon Finance (RBN), a DeFi protocol, secured the third spot with a price growth of 20.25% acquired over the period. This highlights that the network continues to attract user interest for its governance, lending, and staking offerings.
Fourth on the list is VGX Token (VGX), a cross-chain platform specialized in the gaming landscape. The game-focused crypto asset drew in an impressive 13% price surge today.
FUNToken (FUN), a decentralized protocol focusing on making online gambling and gaming fun, closely followed with a 12% price hike noted over the past 24 hours.
Other cryptocurrencies that recorded significant gains today include AST, XYO, PSTAKE, ORBS, and BZZ. The price of AirSwap (AST) surged by 11%, making it sixth in this list. XYO Network (XYO) made an outstanding 10.9% gain, trading at $0.009808 today.
pSTAKE Finance (PSTAKE)’s 10.7% price rise has pushed its value to $0.04062. Orbs (ORBS) has increased its value by 10%, with its price reaching $0.02349 today. Lastly, Swarm (BZZ) wrapped this top gainers’ list with a 9.9% gain, trading at $0.1569.
Shift from Speculation to Strategic Investing
As reported by the data, the robust performance of these coins highlights aggressive trading and heightened trader enthusiasm in particular virtual currency platforms or sectors within the wider virtual currency ecosystem.
Substantial gains, like the ones recorded in GNS, OBOL, and RBN, can attract traders’ interest in these coins, resulting in further price growth and capital injection into these networks.
This also signals emerging trends within sectors, depending on where these networks operate from. However, such substantial increases can also come with heightened price movements and the possibility of rapid falls, reflecting the risky nature of the industry.
Such rapid surges showcase the swift price formations based on various market situations, including buyer interest, news developments, business collaborations, and others, as well as the continuing growth of asset valuations.
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