Top Crypto Gainers Today Jul 24 – Ethereum Name Service, Fasttoken, Ethereum Classic, Mantle

In the fast-paced crypto market, today’s top gainers offer a snapshot of the exciting potential for both short-term traders and long-term investors. The crypto market is a blend of rapid price swings and unique innovations, creating opportunities for those who can stay ahead of the curve. Short-term investors might find these surges thrilling, while long-term players can spot which projects have the foundation for future success. Understanding these dynamics is key to navigating this exhilarating space, where both immediate gains and future potential matter. 

Biggest Crypto Gainers Today – Top List

Today’s standout tokens each tell their own story. Ethereum Name Service has seen a 4.48% rise, highlighting its crucial role in making blockchain addresses user-friendly and accessible. Fasttoken has grown by 1.39%, reflecting its active role in the Bahamut blockchain and hinting at its potential despite being slightly overbought. Ethereum Classic has achieved a 1.12% increase, showcasing its steady and secure Proof-of-Work system, ideal for those valuing stability. Mantle has edged up by 0.78%, demonstrating its innovative approach to scaling Ethereum and promising future growth. Each of these tokens offers a mix of excitement and stability, making them intriguing for anyone looking to invest wisely in the crypto world.

1. Ethereum Name Service (ENS)

The Ethereum Name Service is a decentralized naming system on the Ethereum blockchain that converts human-readable addresses into machine-readable codes for wallets like Metamask. By simplifying blockchain addresses, ENS enhances user experience, much like DNS simplifies internet navigation. Additionally, it allows domain owners full control over subdomains, thereby making the Ethereum-based web more accessible.

Furthermore, ENS offers enhanced security and censorship resistance through blockchain technology, operating without single points of failure. It relies on two smart contracts: the ENS registry, which records domains, and the resolver, which translates addresses. With partnerships with wallets like Coinbase Wallet and Trust Wallet, ENS is further integrated into the crypto ecosystem.

We teamed up with Aragon to distribute limited edition dao.eth merch! 🧢 https://t.co/g4Q3SiOf00

— ens.eth (@ensdomains) July 17, 2024

Recently, ENS has seen a 4.48% price increase in the last 24 hours, supported by high liquidity with a volume-to-market cap ratio of 0.7297. Notably, the 14-day RSI of 40.88 indicates a neutral state. Despite the mixed performance, with 13 green days out of the last 30, ENS remains relatively stable with a 30-day volatility rate of 7%.

In the long term, its impressive performance is evident as it trades 206.63% above its 200-day SMA at $8.99, demonstrating significant growth. Additionally, a year-over-year price increase of 190% shows its solid growth trajectory. Consequently, ENS has surpassed 73% of the top 100 crypto assets by market cap, showcasing its competitive edge.

2. Fasttoken (FTN)

Fasttoken is the native currency of the Bahamut blockchain, an advanced EVM-based layer 1 solution with the innovative Proof of Stake and Activity (PoSA) consensus. FTN is crucial for staking, block creation, validation, and cross-chain operations. Initially launched as an ERC-20 token, it supports transactions within the SoftConstruct ecosystem. However, Bahamut features over 4200 validators, 600,000 transactions, and 200,000 FTN holders, showcasing its active and growing network.

⚡️$FTN is now integrated with @BanxaOfficial, the leading fiat-to-crypto on & off ramp platform, offering the widest range of payment methods!

Check the link 👉 https://t.co/Oyqa8XtsOK#ftn #fasttoken #integration pic.twitter.com/ZjmEEaEqZl

— Fasttoken (@fasttoken_com) July 19, 2024

The PoSA consensus algorithm adds an activity parameter based on smart contract gas usage, encouraging high-quality, widely used contracts. Validators must stake 8192 FTN, and higher activity increases their chances of earning rewards. This promotes network health and decentralization while maintaining stability and security.

FTN has experienced a 1.39% price increase in the past 24 hours, with high liquidity indicated by a volume-to-market cap ratio of 0.0708. However, the 14-day RSI at 100.00 suggests it is overbought, indicating a potential price correction. With 20 green days in the past 30, FTN shows a consistent upward trend. Its low volatility at 2% suggests a stable market position, though it might be overextended.

Over the past year, FTN has increased by 157%, trading 141,078.50% above its 200-day SMA of $0.001646. It has outperformed 68% of the top 100 crypto assets by market cap, highlighting its competitive advantage. Despite its potential for high returns, investors should consider cautious entry points due to overbought conditions.

3. PlayDoge (PLAY)

PlayDoge is taking the meme coin world by storm, blending nostalgia with cutting-edge Web3 technology. Recently, the token successfully raised over $5.8 million in its presale, introducing a distinctive Play-to-Earn (P2E) gaming experience that evokes memories of the classic 90s Tamagotchi. Players engage by caring for a virtual Shiba Inu pet and earn $PLAY tokens as rewards, blending gaming excitement with cryptocurrency in a fresh, engaging way.

The project’s roadmap presents a well-defined trajectory, starting with initial contract audits and presale activities. It then progresses through a full-scale token launch on both decentralized and centralized exchanges. Early phases emphasize development and marketing, leading to app testing, mini-game beta releases, and community airdrops. This strategic plan sets the stage for a robust launch and sustained growth.

Supporting this roadmap, PlayDoge’s tokenomics are meticulously designed: 50% of the tokens are dedicated to the presale, 12% to staking, and 11.5% to liquidity. Additionally, 10% each is allocated to project funds and marketing, while 6.5% is reserved for community rewards. Furthermore, nearly $1.1 million in tokens is secured in a verified staking contract with an impressive 85% annual percentage yield (APY). Investors can seize this lucrative opportunity to purchase $PLAY with BNB, ETH, or USDT, promising substantial potential returns.

Visit PlayDoge Presale

4. Ethereum Classic (ETC)

Ethereum Classic is the original Ethereum blockchain, launched in July 2015, that supports decentralized applications (DApps). After a major hack, ETC split from Ethereum to maintain the original blockchain’s integrity. As a Proof-of-Work (PoW) blockchain with a fixed supply cap of 210,700,000, ETC is known for its security and stability, positioning itself as “digital gold.”

ETC features PoW consensus, full node replication, and composability, enhancing its security and functionality for DApps. Unlike Ethereum, which has moved to Proof-of-Stake (PoS), Ethereum Classic continues to use PoW, offering a stable and secure platform for developers and investors.

Recently, ETC has posted a modest 1.12% gain in the past 24 hours, supported by high liquidity with a volume-to-market cap ratio of 0.2540. Despite this, ETC shows a relatively balanced market with 18 green days out of the last 30. Its 30-day volatility stands at 6%, indicating a stable trading environment. Currently, ETC’s neutral RSI suggests that the price might remain stable or experience minor fluctuations in the short term.

Ethereum Classic Is a Smart Contracts Cryptocurrency Blockchainhttps://t.co/hOtc8abL6u$ETC #ETC 🍀 #EthereumClassic 🍀

— Ethereum Classic (@eth_classic) July 17, 2024

Over the past year, ETC’s price has increased by 29%, reflecting steady, if modest, growth. Although it trades with high liquidity, it has only bested 34% of the top 100 crypto assets, suggesting a more conservative investment profile compared to ENS and FTN.

5. Mantle (MNT)

Mantle Network is an L2 scaling solution for Ethereum, marking the first core product of the Mantle Ecosystem. It features a modular architecture that separates transaction execution, data availability, and transaction finality into upgradeable modules, ensuring compatibility with the Ethereum Virtual Machine (EVM). As the world’s first DAO-spawned L2, Mantle Network aims to drive mass adoption of token-governed technologies. The native token, MNT, is used to pay gas fees, grow the ecosystem, and enable community governance.

What sets Mantle Network apart is its ability to hyperscale network performance with low fees and faster finality while leveraging Ethereum’s security. This allows developers to create DApps with exceptional user experiences. Security is further enhanced through its partnership with EigenLayer for the data availability module and its adoption of a roll-up architecture secured by Ethereum.

MNT has experienced a slight increase of 0.78% over the past 24 hours, with high liquidity indicated by a volume-to-market cap ratio of 0.0672. The 14-day RSI of 63.96 suggests that MNT is currently neutral and likely to trade sideways. With 16 green days out of the last 30, MNT has shown a balanced short-term performance. Also, a 30-day volatility of 10% indicates moderate price stability.

Looking at its long term, MNT has appreciated by 51% over the past year, reflecting solid growth. Although it trades significantly above its 200-day SMA, its performance is less dramatic than FTN’s but more stable. It has outpaced 43% of the top 100 crypto assets, making it a moderately strong contender in the market.

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