• The crypto market has been seeing a slowdown since bitcoin’s rejection at $24,000 and its subsequent decline below $23,000.
• However, there are some cryptocurrencies that have still found a way to register upward momentum even at this time.
• This report focuses on coins in the top 100 by market capitalization that have seen gains in the last day.
Crypto Market Slowing Down
The crypto market has been seeing a slowdown since bitcoin’s rejection at $24,000 and its subsequent decline below $23,000. Despite this, some cryptocurrencies have managed to remain resilient and post gains even during this downturn period.
AI Narrative Driving Crypto Momentum
The artificial intelligence narrative has seeped into the crypto market recently causing a significant run-up in the prices of AI-implemented tokens. While these tokens have done well in the past week they too have experienced a slowdown along with the rest of the market.
Top 5 Performing Cryptocurrencies In The Last Day
This report will focus on coins in the top 100 by market capitalization that have seen gains in the last day despite the bearish sentiment across most of digital asset markets. These include Rocket Pool (RPL), BitStarz Player Lands (FXS), Lido DAO (LDO), Yearn Finance (YFI) and Balancer (BAL).
Rocket Pool (RPL)
Rocket Pool (RPL) is already up over 14% in the last 24 hours alone due to increased attention being given to LSD tokens as Ethereum’s “Shanghai” upgrade draws nearer. RPL is one of few tokens within top 100 recording gains on 24 hour, 7 day and 30 day timeframes.
Frax Share (FXS)
Frax Share is another token which native token FXS saw an increase of 9.8% over the course of last 24 hours taking its total market cap above 1 billion dollars with 225 million dollar trading volume in same timeframe. It claims to be first protocol allowing partial backing of cryptocurrency through collateral & algorithmic stability which has helped it gain support from community since launch as well as more so lately in past 24 hours