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Top Crypto Gainers Today February 23 – Axelar, WOO Network, KuCoin Token, Gala

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In today’s top crypto gainers, four tokens rise to the forefront, each boasting unique features. Axelar (AXL) leads with its cross-chain prowess, witnessing a staggering 107% price increase over the past year. WOO Network (WOO) surges by 14.80% within 24 hours, driven by its commitment to liquidity provision.

KuCoin Token (KCS) experiences a 5.80% surge, backed by its innovative profit-sharing model. Gala (GALA) maintains stability despite a -37% price decrease last year, showcasing resilience amidst market fluctuations.

Worthy of note is Scotty, which has increased with Ocean Protocol’s OCEAN and Fetch.AI’s FET amid a 7.7% market surge. These tokens embody the evolving crypto market, offering investors diverse opportunities for growth and innovation.

Biggest Crypto Gainers Today – Top List

The crypto space remains vibrant with a total capitalization of $1.97T, despite Bitcoin’s slight dip to $51,300, marking a 0.94% decrease. As a Fear & Greed Index reading 76 (Extreme Greed) indicates, market sentiment remains bullish. Axelar emerges as the top gainer, soaring by 16.63%, while Livepeer experienced an 11.35% loss in the last 24 hours.

1. Axelar (AXL)

Axelar facilitates secure cross-chain communication for Web3, offering a decentralized network, development kit, and gateway smart contracts. Its dynamic validator ensures security via a PoS consensus mechanism. AXL, its native token, supports cross-chain transfers, including AVAX, ETH, FTM, GLMR, and MATIC.

Notably, Axelar stands out for its secure cross-chain communication on Proof-of-Stake. It simplifies development with protocols, APIs, and tools. The current price of Axelar is $1.530097, with a 19.57% increase in the last 24 hours and a market capitalization of $883.32M, dominating 0.04% of the market.

Axelar’s price increased 107% in the past year, outperforming 75% of the top 100 crypto assets and Ethereum but underperforming Bitcoin. It trades 218.88% above the 200-day SMA and exhibits neutral sentiment with a 14% 30-day volatility and a 54.13 14-day RSI.

Axelar’s latest development involves Sommelier’s L2 DeFi vault enabled by Axelar’s General Message Passing, expanding yield opportunities on Ethereum’s layer 2. Over $60 million sits in its vaults on Ethereum. Sommelier aims to reach a larger audience and tap into new ways to generate yield.

The Real Yield ETH vault is on Arbitrum One. It represents Sommelier’s expansion beyond Ethereum’s mainnet. They pursue strategies like providing liquidity on DEXes and taking leveraged positions on staked ETH. Sommelier plans further L2 expansions leveraging Axelar GMP network to enhance DeFi accessibility and innovation.

2. WOO Network (WOO)

The WOO Token serves a crucial role within the WOO ecosystem, enabling staking, fee discounts, and other benefits. WOO Ecosystem products provide traders, exchanges, and institutions access to top-tier liquidity and trading execution, often at reduced or zero cost.

The WOO mission centers on delivering optimal liquidity under favorable conditions. Products compete not only on price execution but also on integrity, user experience, innovative tools, and global opportunities.

WOO Price Chart

The price of WOO Network sits at $0.474605, marking a 14.80% surge in the last 24 hours, with a market capitalization of $868.26M. WOO Network has shown a 101% increase in price over the past year, outperforming 74% of the top 100 crypto assets. While it underperformed against Bitcoin, it outpaced Ethereum.

WOO Network exhibits neutral sentiment when trading significantly above the 200-day SMA, with a 14-day RSI of 62.68 and 50% green days in the last 30 days. With a 30-day volatility of 9%, WOO Network maintains high liquidity, boasting a volume-to-market cap ratio of 0.1446. WOO trades with multiple fiat currencies, including EUR, KRW, and USD.

3. KuCoin Token (KCS)

KuCoin Token is the native token for KuCoin, introduced in 2017 to enable traders to benefit from the exchange. Initially an ERC-20 token on Ethereum, KCS has a fixed supply of 200 million, with plans for a buyback and burn until 100 million remain.

As it evolves towards decentralized solutions, KCS will become pivotal as a governance token and fuel for the ecosystem. Its holders enjoy perks such as discounts and a share of trading fees. This unique model fosters passive income, with daily dividends derived from KuCoin’s trading revenue.

KCS Price Chart

The token’s recent surge by 5.80% demonstrates market interest, reflecting a bullish sentiment. Despite outperforming 49% of the top 100 assets, KCS experienced declines compared to Bitcoin and Ethereum over the past year. Currently trading 28.03% above the 200-day SMA, it exhibits neutral sentiment with a 14-day RSI at 59.35. At the same time, the last 30 days saw 53% positive trading and low liquidity persists, with a volume-to-market cap ratio of 0.0032.

Investing in this top gainer presents potential opportunities due to its unique profit-sharing model and benefits for holders. However, while recent metrics like a price surge and outperforming a portion of top assets are promising, it’s crucial to acknowledge its declines against Bitcoin and Ethereum and the challenge of low liquidity.

4. Gala (GALA)

Fueled by Web3 and blockchain, Gala Games utilizes GALA as its core utility token, driving NFT transactions and rewarding Node operators. Daily emissions are split evenly, with 50% allocated to Node operators and the remainder reserved for ecosystem growth. Prioritizing player ownership and gaming experience, Gala simplifies blockchain transactions through Coinbase or MetaMask and facilitates NFT trading via OpenSea.

GALA Price Chart

In early 2022, Gala expanded into music and film alongside successful ventures like the VOX NFT avatar project. Users collect in-game NFTs, enhancing gameplay or trading them. Collaborations with external studios enrich Gala’s diverse game portfolio. Project GYRI, Gala’s blockchain solution, enables seamless asset bridging with Ethereum, utilizing GALA as the gas token.

Despite a -37% price decrease in the past year, GALA trades 18.33% above the 200-day Simple Moving Average. It underperformed Bitcoin and Ethereum, down -70.10% and -64.76%, respectively, but maintains high liquidity with a volume-to-market cap ratio of 0.3256. GALA’s 30-day volatility is 9%, with 50% green days in the last month. Investors are bearish, but GALA’s neutral trading stance, shown by a Relative Strength Index of 34.39, makes it a stable crypto investment.

5. Scotty The AI (Scotty)

Scotty The AI is a critical player in the surging AI token market following OpenAI’s Sora launch and Vitalik Buterin’s tweet. The market has witnessed a significant uptick, with tokens experiencing an average gain of 7.7% within 24 hours. Notably, tokens like Ocean Protocol’s OCEAN and Fetch.AI’s FET have seen gains exceeding 10%, reflecting confidence in the future of AI.

The tweet suggesting AI’s potential role in auditing smart contracts has further fueled interest in AI-related tokens. This sparked gains for lesser-known tokens like Scotty the AI, indicating the market’s receptiveness to innovative applications of AI in the blockchain space.

Scotty the AI leverages advanced capabilities to redefine security and fraud detection in the crypto industry. Its objectives include establishing trust and offering AI-driven solutions. It also aims to foster community engagement and achieve recognition as a symbol of security and integrity. With a fixed token supply of 1.73 million $SCOTTY tokens and an Initial Token Audit for security, Scotty positions itself as a promising project within the AI token market.

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Let us take a look at the current situation in the crypto market. Circle, a major U.S. crypto firm, has discontinued USDC support on Tron, citing integrity and security. They have ceased minting USDC on Tron, offering institutional clients until February 2025 for transfers or redemptions.

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