Top Crypto Gainers Today Aug 07 – Drift, Axelar, Solana, SuperVerse

The crypto market has skilled a rollercoaster journey this week. Simply days in the past, Bitcoin was flirting with the $62K mark, and our evaluation hinted that August won’t be its strongest month. Little did we count on the swift and extreme market plunge triggered by macroeconomic occasions. Nevertheless, crypto has a knack for bouncing again shortly. Earlier than we might even catch our breath, many cash had already posted spectacular positive factors.

Regardless of the market turbulence, main gamers have been actively accumulating property behind the scenes. As Bitcoin rebounds from a dip beneath $50K to $56K, with vital shopping for noticed on main exchanges, the outlook could be turning extra optimistic. In the meantime, Ethereum has skilled risky swings, and the SOL/ETH ratio has hit new highs. 

Largest Crypto Gainers Right this moment – Prime Listing

Right this moment’s grand collection of prime gainers should not simply surviving—they’re thriving, turning heads with their spectacular positive factors and improvements. First, Drift has seen a big surge due to its superior decentralized change and governance options. Moreover, Axelar excels with its safe cross-chain communication, which is bolstered by robust investor backing. 

In the meantime, Solana continues to shine with speedy transactions and scalability, driving a considerable value rise. Moreover, SuperVerse stands out with its gaming-centric blockchain, providing thrilling rewards and governance rights. Let’s get into the small print for extra worthwhile insights.

1. Drift (DRIFT)

Drift operates on the Solana blockchain, offering a decentralized change (DEX) with numerous buying and selling choices and incomes alternatives. It makes a speciality of perpetual futures contracts, permitting customers to have interaction in leveraged and speculative buying and selling with out expiration dates. 

Moreover, it helps spot buying and selling for direct asset purchases and swap buying and selling for seamless asset exchanges. Customers also can earn by lending or borrowing property and by collaborating in insurance coverage fund staking. This selection caters to totally different buying and selling methods and boosts engagement.

Furthermore, the DRIFT token performs a key function in governance. It grants holders voting rights throughout the multi-branch DAO construction, enabling them to suggest and vote on protocol modifications. Nevertheless, customers ought to concentrate on dangers like funding charges and leverage implications related to perpetual futures buying and selling. General, Drift gives a complete platform targeted on quick, low-cost transactions and decentralized governance via the DRIFT token.

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— Drift Protocol (@DriftProtocol) August 6, 2024

DRIFT has surged by a powerful 25.72%, suggesting vital short-term curiosity. With a excessive liquidity ratio of 0.7852 and a present value of $0.31044, there’s substantial market exercise round this token. Nevertheless, the 14-day RSI at 100.00 signifies that DRIFT is presently overbought and will face a pullback quickly. 

Regardless of having solely 9 inexperienced days out of the final 30 (30%), it’s buying and selling properly above its 200-day SMA by a staggering 347,303.05%. This highlights its long-term bullish pattern. In comparison with AXL and SUPER, DRIFT displays excessive volatility and potential for speedy corrections because of its present RSI and overbought standing.

2. Axelar (AXL)

Axelar excels in offering safe cross-chain communication for Web3. The venture contains a decentralized community and important instruments for builders. It features a community of validators, a software program improvement equipment of protocols and APIs, and gateway sensible contracts for cross-chain connectivity. Consequently, builders can simply combine cross-chain options into their dApps. They don’t have to be taught a brand new programming language, due to Axelar’s user-friendly strategy.

Moreover, Axelar helps the cross-chain switch of a number of native tokens via their wrapped ERC-20 variations, equivalent to AVAX, ETH, FTM, GLMR, and MATIC. This provides to its versatility throughout numerous blockchain ecosystems. Moreover, with funding from top-tier companies like Binance and Coinbase Ventures, Axelar is well-positioned to advance its mission. Thus, its dynamic validator strategy and complete instruments make it a standout answer for seamless cross-chain communication.

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— Flipside 📊 (@flipsidecrypto) August 6, 2024

In current developments, AXL is priced at $0.531737 and has surged by 13.50% within the final 24 hours. This spike is noteworthy, supported by a strong liquidity ratio of 0.1193. Furthermore, with a impartial 14-day RSI of 54.13, it’s clearly in a consolidation part. Nonetheless, buying and selling 11.04% above its 200-day SMA, AXL exhibits resilience. 

Additionally, over the previous yr, it has appreciated by 37%, outperforming 50% of the highest 100 crypto property. This regular progress trajectory contrasts with DRIFT’s excessive volatility. Consequently, AXL’s stability hints at a promising long-term outlook. Nevertheless, its short-term actions are much less dramatic, offering a relaxed amidst the crypto storm.

3. The Meme Video games (MGAMES)

The Meme Video games is innovating within the meme coin area by integrating sports activities betting with blockchain expertise. At present in its presale part, the venture has already raised practically $350,000. Set in opposition to the backdrop of the Paris 2024 Olympics, it capitalizes on the sporting fever to draw consideration. The novel idea entails meme characters racing in opposition to one another. Members select their favorite meme athlete, and if their choose wins, they obtain a 25% bonus on their funding.

Technically, it’s constructed on strong foundations. It has efficiently handed a SolidProof audit, which confirms adherence to high-security requirements. Furthermore, with over 16 million MGMES staked, the staking app affords a exceptional 630% annual yield. Moreover, the staff has allotted 15% of the token provide for advertising and marketing and 17.7% for venture funds, demonstrating a dedication to long-term progress.

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— The Meme Video games (@MemeGames2024) August 2, 2024

Moreover, the presale for The Meme Video games is scheduled to finish on September eighth, with a DEX itemizing deliberate for September tenth. At present, MGMES tokens are priced at simply $0.00915, and traders should buy them utilizing ETH, BNB, USDT, or credit score/debit playing cards. The builders have allotted 10% of the entire token provide for liquidity to make sure easy buying and selling from the beginning. Pleasure is palpable in the neighborhood, with many anticipating vital value actions as soon as the token hits the open market.

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4. Solana (SOL)

Solana stands out within the cryptocurrency world for its progressive strategy to blockchain expertise. At its core, it combines a proof-of-history (PoH) consensus with a proof-of-stake (PoS) mechanism. This hybrid mannequin, developed by Anatoly Yakovenko, drastically improves scalability and processing occasions. The PoH information the sequence of operations and the time between them, which accelerates transaction validation and sensible contract execution. Consequently, Solana can deal with excessive transaction volumes with spectacular pace and effectivity.

Furthermore, Solana’s design prioritizes low transaction prices and minimal charges. The community’s hybrid consensus ensures that customers should not stunned by surprising prices. Consequently, it stays accessible to a broad viewers. Moreover, Solana’s pace and efficiency have garnered vital reward. Consequently, it’s positioned as a formidable competitor to Ethereum. Moreover, with its give attention to scalability and affordability, Solana is well-positioned to advance decentralized finance.

https://t.co/rKbUN1irH5

— Solana (@solana) July 25, 2024

Prior to now 24 hours, SOL has surged by 6.95%, hitting a present value of $153.75. Impressively, it boasts a liquidity ratio of 0.2007, reflecting robust market exercise. With a 14-day RSI of 55.89, SOL signifies a impartial outlook, but it holds potential for regular buying and selling. Remarkably, 57% of the final 30 days have been inexperienced, displaying constant efficiency.

Additionally it is buying and selling 10.39% above its 200-day SMA, underscoring its upward momentum. Over the previous yr, SOL’s efficiency has been nothing wanting phenomenal, with a 564% surge. It has outperformed 92% of the highest 100 crypto property, cementing its place out there. SOL stands out with its combine of considerable short-term positive factors and spectacular long-term potential.

5. SuperVerse (SUPER)

SuperVerse shines with its blockchain crafted particularly for avid gamers. It delivers lightning-fast, low-cost transactions, reworking how gamers expertise digital worlds. The $SUPER token, an ERC20 asset, grants governance rights via a DAO. By holding these tokens, customers can affect on-chain charges, unlock unique occasions, and earn particular gaming rewards. Moreover, staking them gives additional rewards and entry to extra occasions, thereby boosting engagement and enhancing community safety.

Impressively, SuperVerse excels in safety by leveraging staking to spice up stability. Moreover, DAO governance permits token holders to vote on essential safety measures, making certain common updates. Moreover, transparency reviews preserve customers knowledgeable about safety and operations. Furthermore, SuperVerse adheres to native legal guidelines and enforces strict safety insurance policies to guard knowledge. Consequently, its gaming-focused blockchain ensures each effectivity and safety.

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— SuperVerse (@SuperVerse) August 2, 2024

SUPER is presently priced at $0.477799, displaying a 6.85% rise previously 24 hours. It maintains a liquidity ratio of 0.0979 and a 14-day RSI of 69.92, indicating a impartial stance with potential for sideways motion. Furthermore, with 47% of the final 30 days being inexperienced, it’s buying and selling 170.50% above its 200-day SMA. Over the previous yr, SUPER’s value has risen by 436%, outperforming 90% of the highest 100 crypto property. In comparison with prime gainers, AXL and DRIFT, SUPER showcases a balanced mixture of short-term positive factors and long-term progress.

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