In the current global crypto market trend, Bitcoin is making headlines. As the Bitcoin 2024 conference unfolds in Nashville, Bitcoin's price has surged past $67,000, climbing from around $65,000. The spotlight on Bitcoin is strong, with $31.1 million flowing into spot Bitcoin ETFs on Thursday. Adding to the excitement, Jersey City Mayor Steven Fulop announced a 2% pension fund allocation to Bitcoin ETFs. Meanwhile, Michigan's $6.6 million investment in the ARK 21Shares Bitcoin ETF highlights growing institutional interest.
Biggest Crypto Gainers Today – Top List
Turning our attention to today's top crypto gainers, Conflux, Band Protocol, eCash, and JasmyCoin are leading the charge. Firstly, Conflux stands out with its scalable blockchain innovations, boasting an 18.71% surge in just 24 hours. In addition, Band Protocol shines with its data oracle solutions, recently seeing a 13.91% increase.
Meanwhile, eCash enhances transaction efficiency, rising by 10.84% in the last 24 hours. Additionally, JasmyCoin transforms IoT data management with a solid 7.38% gain. Check out the details below to see how these gainers are making their mark on the future of digital finance.
- Conflux (CFX)
Conflux is a layer-1 blockchain designed to enhance decentralized applications (dApps), e-commerce, and Web 3.0 infrastructure. It uses the unique Tree-Graph consensus mechanism, combining Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithms. This approach ensures scalability, security, and decentralization. Additionally, transactions are quick, efficient, and low-cost, eliminating network congestion. Furthermore, Conflux's compatibility with Ethereum's Virtual Machine (EVM) and smart contracts written in Solidity makes it a versatile choice for developers and users.
What sets Conflux apart is its interoperability and innovative features. For instance, the ShuttleFlow cross-chain protocol enables seamless asset transfers between Conflux and other networks like Ethereum and Binance Smart Chain. Moreover, with the Fee Sponsorship Mechanism, users with negative balances can still interact with the blockchain. The network processes 300–6000 transactions per second, with lower fees and an integrated staking system offering consistent rewards.
CFX has recently made a splash with an impressive 18.71% surge in just 24 hours! This robust short-term performance is bolstered by a solid liquidity ratio of 0.3972, making it a standout in recent trades. However, its neutral RSI of 53.41 suggests it might be heading for a sideways trend, hinting at stability rather than explosive growth.
In contrast, over the past year, CFX's growth of 4% might seem underwhelming next to Jasmy's rise. Nevertheless, while trading 9.35% above its 200-day SMA indicates it's in a stable zone, its long-term performance lags behind other gainers. Therefore, investors looking for steady but moderate gains may find CFX a reliable option.
- Band Protocol (BAND)
Band Protocol is a cross-chain data oracle platform that connects real-world data with on-chain applications. By enabling smart contracts to access and utilize external data, it unlocks a world of possibilities for DApp developers. This includes integrating sports scores, weather data, random numbers, and price feeds into their DApp logic. Furthermore, built on BandChain using the Cosmos SDK, Band ensures high-speed, efficient data processing. The native token, BAND, is essential for validators fulfilling data requests and serves as the main currency for transactions on BandChain.
Recently, Band Protocol made headlines by successfully deploying Price Feed Data on Astar's Ink!. Since August 2023, the team has been diligently working on implementing Band Standard Reference Contracts on Ink!. They have thoroughly tested and audited their price feed Oracle to ensure seamless and secure services for the Astar Network ecosystem. This integration enhances data integrity and security within the Polkadot ecosystem.
In light of this news, BAND is currently going strong, with a 13.91% increase in the last 24 hours, making it a hot pick for the short term. Additionally, the token's RSI of 29.36 signals it might be oversold and poised for a rebound, enhancing its short-term appeal. With a liquidity ratio of 0.3719, it closely competes with CFX, positioning it well for potential gains. On the other hand, BAND has had a 32% rise over the past year, outperforming a third of the top 100 crypto assets. Trading 14.74% above its 200-day SMA showcases a solid long-term trend. It offers steady growth and is a strong option for investors seeking reliable long-term returns.
- eCash (XEC)
eCash is a bold evolution from Bitcoin Cash ABC (BCHA), aiming to redefine digital transactions. It is designed to function as “electronic cash,” streamlining payments for goods and services. Instead of the cumbersome decimals of Bitcoin, eCash uses “bits” for transactions, simplifying the process. For instance, rather than sending 0.00001000 BTC, you’d send 10 bits. This rebranding also included a conversion from BCHA to XEC at a 1-to-1 million ratio.
Moreover, eCash is not merely about speed; it also focuses on advanced features. The integration of a PoS consensus layer called “Avalanche” alongside the existing PoW ensures enhanced security and faster transactions. This layer is designed to support compatibility with EVM, aiming for interoperability with DeFi on Ethereum. In essence, eCash combines the best of both worlds, aiming to provide a scalable, secure, and efficient cryptocurrency solution.
XEC has surged by 10.84% in the last 24 hours, catching the eye of short-term traders. With an RSI of 28.36, it’s currently oversold and might be primed for a rebound. Additionally, its liquidity ratio stands at a solid 0.0826, reflecting a healthy volume-to-market cap ratio. The current market cap is $774.22M, while the 24-hour volume is $ 63.97 M.
It has climbed 30% over the past year, marking it as a solid performer but still trailing behind Jasmy's exceptional gains. Trading 24.59% above its 200-day SMA highlights a positive long-term trend, indicating it’s on a steady path. For those seeking reliable growth, XEC is a solid choice, though it doesn’t top the charts for long-term gains.
- JasmyCoin (JASMY)
JasmyCoin is a cryptocurrency project focused on reshaping the Internet of Things (IoT) space. Integrating IoT technology with blockchain empowers users to have full control over their data. The platform facilitates a secure exchange of information between IoT devices and decentralized protocols, ensuring users’ data remains protected and sovereign. Additionally, JasmyCoin’s infrastructure supports edge computing and stores data on the InterPlanetary File System (IPFS), promoting a decentralized model where users fully control their data.
Users begin by registering and verifying their identities, setting the stage for seamless data control. They can then track
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