Top Crypto Gainers Today Mar 24 – Conflux, BitTorrent, OKB, Synthetix

In today’s crypto market, where fortunes are made and trends are set, Bitcoin reigns supreme. With a market capitalization soaring to $ 2.50 trillion, Bitcoin’s recent surge to $65,421, marking a 1.40% gain in the last 24 hours, underscores its unrivaled dominance. As the cornerstone of digital assets, Bitcoin’s movements dictate market trends and shape investor sentiment, making it the ultimate barometer of crypto success.

Despite Bitcoin’s dominance, the broader cryptocurrency market remains vibrant, with a total trading volume of $267.44 billion in the last 24 hours. The market sentiment, currently labeled as Neutral, as per the crypto Fear & Greed Index, reflects a reading of 74 (Greed). This sentiment is further underscored by the fact that 69% of cryptocurrencies have emerged as top gainers in the same period. It demonstrates the resilience and bullish sentiment prevailing in the market, indicating widespread optimism among investors.

Biggest Crypto Gainers Today – Top List

In this rapid market, assets sway like tides, rising and falling with striking speed and intensity, painting a picture of the market’s unpredictable nature. Today’s analysis is no exception, as exemplified by the standout performances of XEC and the downturn faced by Blox. XEC, the leading gainer, showcases an impressive surge of 34.07% in the last 24 hours. In contrast, Blox experiences a notable drop of -11.19% in price, highlighting the inherent risks of digital investments. These movements set the stage for an insightful exploration into our top gainers, intending to offer valuable insights for investors navigating the crypto market.

1. Conflux (CFX)

Conflux is a public layer-1 blockchain designed to power decentralized applications (dApps), e-commerce, and Web 3.0 infrastructure. With a focus on scalability, decentralization, and security, it aims to facilitate swift and cost-effective asset transfers, free from network congestion and high transaction costs. Leveraging the Tree-Graph consensus mechanism, Conflux combines Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithms to achieve consensus. This approach ensures a decentralized network supporting Turing-complete smart contracts written in Solidity.

CFX sets itself apart through its ShuttleFlow cross-chain protocol, enabling interoperability with Ethereum, Binance Smart Chain, Huobi Eco Chain, and OKEx Chain. This interoperability enhances its utility and accessibility, allowing seamless asset transfers across blockchains. Conflux’s scalability is evident in its ability to process 300–6000 transactions per second (TPS), offering a viable solution to Ethereum’s network congestion and high fees. The Fee Sponsorship Mechanism ensures inclusivity, enabling users with negative balances to engage with the platform effortlessly. Moreover, Conflux’s integrated staking system offers users passive rewards, providing a low-risk alternative to trading. This system also fosters dApp development within a secure and decentralized framework.

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— Conflux Network Official (@Conflux_Network) March 23, 2024

For investors, Conflux presents an intriguing opportunity within the blockchain space. Its current price at $0.513006 and experiencing a notable surge of 15.71% in the last 24 hours demonstrates potential for growth and value appreciation. Moreover, trading 209.25% above the 200-day SMA indicates sustained bullish momentum and long-term growth potential. Additionally, CFX maintains high liquidity, with a volume-to-market cap ratio of 0.5193, providing ample trading opportunities for investors.

2. BitTorrent (BTT)

The BitTorrent protocol, devised by BitTorrent Inc., revolutionizes file exchange among untrusted parties. However, its transient collaborations present a challenge that blockchain integration seeks to overcome. By introducing BTT, a novel cryptographic token, and an extended BitTorrent protocol, a lasting economy for global computing resources is envisioned, promising boundless opportunities for innovation and collaboration.

BTT serves as a general-purpose mechanism for transactions within the BTT-enabled BitTorrent ecosystem, denominating computing resource transactions. It offers granular pricing and liquidity through a divisible token structure. BitTorrent Inc. plans an “on-chain/off-chain exchange” to manage high transaction volumes, enabling seamless token transfers between a private ledger and the public TRON blockchain.

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New feature:
Supported the BTIP-51 proposal: add file metadata to the blockchainhttps://t.co/hwM5IPKx0W

Improvements:
1. Added support for multiple RPCs to boost the success rate of network connections.
2. Optimized code structure and fixed known… pic.twitter.com/3Onkr91Z22

— BitTorrent (@BitTorrent) March 19, 2024

This gainer presents promising metrics for investors. Priced at $0.0₅1556, it experienced a 14.34% surge in the last 24 hours, with a 156% increase over the past year. Trading 65.58% above the 200-day SMA at $0.0₆9392, BTT maintains neutral RSI levels at 32.27, suggesting potential sideways movement. With 50% green days in the last 30 days and a 30-day volatility of 17%, BTT demonstrates stable performance amidst high liquidity, boasting a volume-to-market cap ratio of 0.0957.

3. Green Bitcoin (GBTC)

Bitcoin’s recent price surge sparks interest in altcoins, particularly those closely tied to it. Green Bitcoin shines in this altcoin surge with its unique “gamified green staking” system. Holders of GBTC tokens earn passive income through staking, augmented by engaging Bitcoin price predictions. This gamified approach excites the staking process, attracting investors, old and new.

With Decentralized and Centralized exchange listings not far away, the momentum Green Bitcoin is generating is getting intense.

We love the movement! pic.twitter.com/QeOhyUA35f

— GreenBitcoin (@GreenBTCtoken) March 23, 2024

GBTC’s connection to Bitcoin provides stability, leveraging the Ethereum blockchain for security. The tokenomics of GBTC, including clear allocation strategies, ensure sustainability and community involvement. The roadmap outlines ambitious plans, such as staking and prediction features, decentralized exchange listings, and enhanced community engagement.

Its presale raised over $5.2 million, with the $GBTC token purchasable using ETH, USDT, or a credit card. BNB purchases during the presale don’t qualify for the 103% annual staking returns, making Ethereum the recommended purchase method for staking. With a dedicated team and innovative features, Green Bitcoin aims to make a lasting impact in the crypto sphere.

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4. OKB (OKB)

OKB, released by the OK Blockchain Foundation and OKEx exchange, is a utility token that facilitates various features within the exchange ecosystem. OKEx ranked among the world’s top exchanges, offers a diverse range of trading pairs and unique services, including cloud mining and options trading. As a utility token, OKB grants users access to discounted trading fees, voting rights, and rewards, enhancing their engagement within the platform.

It distinguishes itself through its innovative features, offering users up to a 40% discount on transactions based on their token holdings. Additionally, OKB serves as the native asset of the OKExChain, enabling spot and derivatives trading while supporting the development of scalable applications. Regular token burns and incentives further enhance OKB’s value, making it an attractive investment option in the crypto market.

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— OKX (@okx) March 24, 2024

OKB presents an intriguing opportunity, with its current price at $63.55 and a modest surge of 6.79% in the last 24 hours. Despite its relatively low market dominance of 0.15%, it has demonstrated a consistent upward trajectory, with a notable 51% increase in price over the past year. Trading well above the 200-day simple moving average at $52.16, OKB exhibits stability and potential for continued growth. With a 14-day Relative Strength Index (RSI) indicating neutrality at 56.93, there’s a possibility of sideways movement in the short term, presenting a chance for strategic positioning. Moreover, the coin’s volatility remains below 30%, currently resting at 10%, suggesting stability conducive to long-term investment strategies.

5. Synthetix (SNX)

Synthetix operates as a decentralized liquidity provisioning protocol accessible to various platforms, fostering deep liquidity and minimal fees across Optimism and Ethereum. The ecosystem, encompassing platforms such as Kwenta, Lyra, Polynomial, and 1inch & Curve, leverages Synthetix liquidity to enhance and extend their functionalities. Collateralized by SNX, ETH, and LUSD, the Synthetix Network enables the creation of synthetic assets (Synths), offering exposure to diverse financial instruments without direct asset ownership.

It exposes users to underlying assets through synths without requiring direct asset holdings. The platform facilitates autonomous trading and staking opportunities, with SNX holders rewarded via transaction fee shares on the Synthetix Exchange. Utilizing oracles for smart contract price delivery, Synthetix ensures seamless trading with minimal liquidity and slippage concerns, eliminating reliance on intermediaries.

From a performance standpoint, Synthetix demonstrates resilience and growth, with its current price at $4.67 and a notable rise of 8.55% in the last 24 hours. Despite a relatively modest market dominance of 0.02%, SNX has witnessed a substantial 93% increase in price over the past year. Trading significantly above the 200-day SMA at $3.37, Synthetix exhibits stability and potential for further appreciation. With a neutral 14-day RSI at 42.82, the cryptocurrency may move sideways, presenting strategic trading opportunities. Moreover, boasting a 30-day volatility of 7% and high liquidity with a 0.3515 volume-to-market cap ratio, Synthetix presents itself as an attractive option for investors seeking exposure to decentralized finance (DeFi) protocols.

This week, $983k worth of sUSD was burned in trading fees!

On Optimism, Synthetix Perps accounted for 93% of these fees, while the remaining 7% occurred on the Ethereum mainnet.

100% of sUSD fees are distributed to $SNX stakers every week! pic.twitter.com/WJDfFdUJXw

— Synthetix ⚔️ (@synthetix_io) March 21, 2024

Let us peep at the latest trend amid the crypto market’s dynamic shifts. There has been some relocation of older Bitcoin mining machines in the US, slated to be refurbished and resold overseas. As the halving event looms, mining companies globally are bracing for the impact by upgrading to more efficient technology, marking a pivotal moment in the industry’s evolution.

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