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As August comes to a close, Bitcoin (BTC-USD) has underperformed traditional assets, with an 8% drop this month. This decline is fueled by shrinking liquidity and concerns over potential sell-offs from government-held Bitcoin stockpiles. These stockpiles could add up to a $33 billion supply overhang.
Notably, the US, China, the UK, and Ukraine hold significant amounts of Bitcoin, with the defunct Mt. Gox exchange also having a substantial amount to distribute. Despite net inflows into US spot-Bitcoin ETFs and expectations of Federal Reserve policy easing, Bitcoin’s performance has struggled, reflecting the broader market’s uncertainty.
Biggest Crypto Gainers Today – Top List
As the crypto market continues to navigate its twists and turns, a few standout tokens have risen to the top today. With solid performance and unique value propositions, Flow, Kaspa, KuCoin Token, and MultiversX have caught the eye of investors. Let’s examine today’s top crypto gainers and identify potential gems for your investment strategy.
1. Flow (FLOW)
Flow is catching attention today with a 1.74% price rise, securing its spot among the top gainers. As a proof-of-stake blockchain, it’s crafted to drive the Web3 era and the open metaverse. Flow supports a range of applications—from Dapps and NFTs to DeFi and DAOs—equipping developers with the tools to innovate. Backed by a track record of successes like CryptoKitties and NBA Top Shot, Flow boasts a thriving ecosystem that draws in top brands, startups, and crypto leaders.
The security measures on Flow are cutting-edge and distinct. It uses a multi-task, multi-node approach, dividing validation into four stages, making transactions more efficient and secure. Human-readable security also protects users from malicious apps. Additionally, Flow’s Specialized Proofs of Confidential Knowledge (SPoCKs) add another layer of protection by allowing validators to prove access to confidential data without revealing it.
Flow demonstrates strong liquidity, boasting a volume-to-market cap ratio of 0.0614. Its 14-day RSI sits at 52.99, signaling a neutral position and hinting at potential sideways trading. Over the past 30 days, Flow has experienced 15 green days, reflecting steady performance. Although it’s currently trading 15.83% below its 200-day SMA, the coin has risen 21% over the past year. However, it has outperformed only 36% of the top 100 crypto assets.
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— Flow 🌊 (@flow_blockchain) August 28, 2024
Nevertheless, momentum continues with the Flow Community Rewards program, launching from August 28 to September 30, 2024. This initiative offers rewards and a potential 15% boost on locked $FLOW, enhancing user engagement across Flow apps. With major partnerships like the NBA and Disney, Flow offers exciting opportunities for both developers and users.
2. Kaspa (KAS)
Kaspa is making a name for itself in the crypto market with its cutting-edge technology and price movement. As a proof-of-work (PoW) cryptocurrency, Kaspa stands out with its implementation of the GHOSTDAG protocol.
Unlike traditional blockchains that discard parallel blocks, Kaspa’s unique approach allows these blocks to coexist, creating a more efficient and secure system. This innovative method turns the Kaspa blockchain into a blockDAG, a more advanced version of the Nakamoto consensus that supports incredibly high block rates.
Currently, Kaspa processes ten blocks per second, but its ambitious roadmap aims to scale this up to 100 blocks per second, all while maintaining top-notch security. The network’s distinctive features include Reachability for querying the DAG’s topology, block data pruning, SPV proofs, and plans for layer two solutions. Adding to its uniqueness is Kaspa’s monetary policy, which geometrically decreases emissions over time, inspired by the 12-note scale of music.
Some ask “what can you use $KAS for?” Here’s a first hand testimony of #Kaspa in action! Transacted and settled in seconds! What are you waiting for? #KaspaAcceptedHere https://t.co/ykGLeHwNz0
— Kaspa (@KaspaCurrency) August 26, 2024
On the price front, Kaspa is currently valued at $0.167257, with a 1.89% increase in the last 24 hours. It boasts high liquidity, with a market cap-to-volume ratio of 0.0348, indicating a healthy trading environment. The 14-day Relative Strength Index (RSI) sits at 54.20, signaling neutral momentum and a potential for sideways trading. Over the last 30 days, Kaspa had 12 green days, accounting for 40% of the time, and its volatility remains low at 7%.
Impressively, it is trading 163.34% above its 200-day simple moving average (SMA). Furthermore, KAS price has surged by 396% over the past year, outpacing 90% of the top 100 crypto assets by market cap.
3. Crypto All-Stars (STARS)
Crypto All-Stars is receiving recognition with its impressive ICO launch, sparking considerable excitement. With over $860,000 raised to date, the project is rapidly approaching its first million-dollar milestone. The presale, structured in 50 phases with price increments at each stage, is a hot ticket. Investors eager to capitalize on early-stage pricing should act quickly, as the next phase is just days away and will see the current price of $0.0014078 rise.
As a matter of fact, early investors enjoy the significant advantage of no lock-up periods, which allows them to sell their tokens anytime. This flexibility enables them to benefit from price increases post-launch and potentially reap substantial profits.
At the core of Crypto All-Stars is its groundbreaking MemeVault ecosystem. This platform introduces a unified staking model for meme coins like Dogecoin, Shiba Inu, and Pepe. By utilizing advanced ERC-1155 technology, MemeVault enables staking multiple tokens within a single contract. Furthermore, with robust security features and cross-chain support, it offers enhanced flexibility and maximized returns.
That’s not all; investors are also drawn by the exceptional annual percentage yields (APY) available for $STARS token holders. With a staggering 1655% APY, the platform offers unparalleled rewards for those who stake their tokens. This incentivizes long-term staking, driving up the token’s value and demand while rewarding participants with substantial returns.
Visit Crypto All-Stars Presale
4. KuCoin Token (KCS)
KuCoin Token is grabbing attention today with a 2.68% price rise, drawing investors’ interest. Since its launch in 2017, KCS has been the native utility token of the KuCoin cryptocurrency exchange.
KuCoin, the exchange behind KCS, stands out for its user-friendly interface and wide range of trading options. It offers spot, margin, futures, and P2P trading, featuring over 850 cryptocurrencies and some of the industry’s lowest fees.
KCS has diverse applications within the KuCoin ecosystem and beyond. It can be used to pay trading fees on the KuCoin Exchange, providing discounts of up to 20%. Additionally, KCS holders can join token sales and use the token to make payments on various platforms and services.
Moreover, KCS holders can engage in governance for KuCoin’s decentralized products and stake their tokens for passive income through the KCS Bonus. Furthermore, they can enjoy VIP benefits such as special fee discounts and cashback rewards.
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— KuCoin (@kucoincom) August 26, 2024
In terms of price movement, KuCoin Token is currently valued at $8.51. KCS has surged by an impressive 96% over the past year, showcasing remarkable growth. Despite this, it’s currently trading 10.39% below its 200-day SMA of $9.50. With a 14-day RSI of 55.68, the token is in a neutral position, hinting at potential sideways movement.
The 30-day volatility is a low 7%, and KCS enjoyed 15 green days in the last month, reflecting its solid market performance. However, it faces challenges with low liquidity, which is evident from its volume-to-market cap ratio of 0.0009. Still, KCS has bested 62% of the top 100 crypto assets in the past year, proving its resilience and potential.
5. MultiversX (EGLD)
Branding itself as a technology ecosystem for the new internet, MultiversX unites Defi, RWA, and the Metaverse on a single platform. At its core is the EGLD token, which powers the network and enables users to deploy smart contracts and pay transaction fees.
Notably, MultiversX achieves true horizontal scalability through network, transaction, and state sharding. This allows it to process up to 100,000 transactions per second with just 6 seconds of latency, all for a minimal $0.002 per transaction. Furthermore, its adaptive state sharding ensures scalability as demand increases. In fact, MultiversX has been tested to handle an impressive 263,000 transactions per second across 50 shards.
Moreover, EGLD is crucial for MultiversX’s governance and security. Validators stake EGLD to join the proof-of-stake consensus and are rated on performance to ensure reliability. Additionally, modified BLS multi-signatures provide robust cryptographic protection, keeping the network secure and decentralized.
Fast-lane access to the #MultiversX ecosystem 🔥@MetaMask users can automatically create a wallet by just exploring the #EGLD-powered apps and solutions.
Seamless and swift, all in a Snap 🦊 pic.twitter.com/BMrB0COwWY
— MultiversX | Sovereign Chains (@MultiversX) August 29, 2024
As of today, MultiversX is trading at $29.40, reflecting a 4.16% increase in the last 24 hours. The token maintains high liquidity with a volume-to-market cap ratio of 0.0474, indicating strong market participation. The 14-day RSI is at 60.87, suggesting that EGLD is currently neutral and may experience sideways trading in the short term. Over the past 30 days, the asset has seen 13 green days, accounting for 43% of the time, while maintaining low volatility at 7%.
Despite a modest 12% price increase over the past year, MultiversX is trading 22.20% below its 200-day SMA of $37.79. In terms of performance against other top 100 crypto assets by market cap, this top gainer has surpassed 29% over the past year.
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