Blockchain

Top Crypto Gainers Today Oct 27 – Neo, Loom Network, Injective, Meme Kombat

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Discover the top crypto gainers today, featuring Neo, Loom Network, Injective, and Meme Kombat. Stay informed about the latest cryptocurrency trends and potential investment opportunities in the dynamic world of digital assets.

The total trading volume in the crypto market amounted to $43.52 billion, marking a substantial 15.56% decrease. Within this context, the decentralized finance (DeFi) sector contributed $4.17 billion to the overall market volume, accounting for 9.58% of the total crypto market volume. DeFi’s increasing influence in the market is a positive trend for investors.

Biggest Crypto Gainers Today – Top List 

The cryptocurrency market has seen a decrease in both its total market capitalization and trading volume over the past 24 hours. DeFi and stablecoins are becoming increasingly important players, while Bitcoin’s dominance remains relatively stable. These trends offer valuable insights to those monitoring and participating in the cryptocurrency market.

1. Neo (NEO)

NEO has recently witnessed a bullish run in the crypto market, placing it #1 on the list of top crypto gainers today. The token has experienced a remarkable 18% increase in its price, currently resting at $8.89.  

This surge is further highlighted by a 199% uptick in its trading volume, now at $119,011,851. As such, NEO’s weekly gains have extended beyond 27%, indicating a significant upward trajectory.

NEO’s current price point is the highest since early August. This remarkable growth trend has naturally raised questions regarding the underlying reasons driving NEO’s bullish activation.

Moreover, the broader market revival over the past week has certainly played a significant role in NEO’s positive performance. However, a more detailed analysis is required to understand the specific drivers behind NEO’s recent success.

A notable development is NEO’s plan to launch a MEVFree Ethereum Virtual Machine (EVM) sidechain. This initiative addresses critical issues such as security, privacy, and user experience in the increasingly complex DeFi landscape. 

Furthermore, introducing this EVM sidechain represents a positive milestone for NEO, opening its ecosystem to other EVM-compatible protocols. It is important to note that Ethereum has a prominent presence in the DeFi ecosystem. This makes integrating NEO’s sidechain significant in positioning it alongside protocols like Filecoin and EOS.

2. Loom Network (LOOM)

Loom Network is a Platform-as-a-Service (PaaS) designed to operate on the Ethereum blockchain. Hence providing developers with the capacity to run large-scale decentralized applications. 

LOOM PRICE CHART

Furthermore, it aims to facilitate smart contracts access to increased computational power when necessary. Similarly, it offers cost-effective solutions for tasks that don’t require full blockchain security, such as user onboarding trials.

Likewise, Loom offers compatibility with Ethereum Solidity applications, which can be executed through side chains. This approach enables applications to implement consensus mechanisms tailored to their requirements and potential threat models. 

The current market data for Loom Network indicates a trading price of $0.121571 with a 24-hour trading volume of $181,978,744. Over the last 24 hours, Loom Network has experienced a 16.05% increase in value, prompting its inclusion in the list of top crypto gainers. 

In summary, Loom Network offers a Platform-as-a-Service solution built on Ethereum to facilitate the deployment and scaling of decentralized applications. Its implementation of side chains with tailored consensus mechanisms makes it a valuable tool for optimizing applications on the Ethereum blockchain.

3. Injective (INJ) 

After going #3 on the list of top crypto gainers today, will Injective consolidate on its bullish run? INJ has demonstrated remarkable resilience amidst the widespread consolidation observed in the cryptocurrency market. 

INJ PRICE CHART

The coin’s price saw a 13% intraday increase, reaching $13.15. As such, Injective is slowly inching closer to its all-time high of $24.89. Notably, INJ has witnessed an impressive 547% price surge since the beginning of the year. As an interoperable Layer-1 blockchain catering to  DApps, INJ finds itself at a critical juncture as it approaches a significant resistance level at $14.

One development contributing to the optimistic sentiment surrounding INJ is completing a double-bottom pattern in January 2023. Thus substantially bolstering the bullish outlook for the token.

On the weekly chart, INJ’s price trades above essential bull market indicators. This includes the 21-week Exponential Moving Average (EMA) and the 100-week EMA, signifying robust bullish momentum in the market.

Further reinforcing the bullish case for INJ, bulls assumed control when the price breached a multi-year descending trendline at $8. In addition, the Relative Strength Index (RSI) has entered the overbought region with an RSI of 76, indicating significant buying pressure. Therefore, it is expected that the ongoing weekly bullish candle will close above the $14 hurdle.

4. WAX (WAXP)

WAXP is one of the top crypto gainers today, designed specifically for e-commerce transactions. As such, it aims to streamline and secure e-commerce transactions for all involved parties. Moreover, WAX operates on a delegated proof-of-stake (DPoS) consensus mechanism. It is fully compatible with EOS, another prominent blockchain platform.

WAXP PRICE CHART

In a recent development, WAX (WAXP) has partnered with Amazon Prime Gaming, signifying a significant milestone within the Web3 gaming realm. This collaboration harnesses WAX’s technology and taps into the extensive user base of Amazon Prime Gaming. Also, the partnership centers around a new gaming project known as Brawlers.

Following the Amazon Prime Gaming announcement, there has been a notable surge in WAX coin’s transaction volume, with an increase exceeding 100%. This collaboration with Amazon Prime Gaming and the Brawlers game project has had a positive impact on WAX’s market performance. The increased transaction volume and price surge evidence this. 

The live WAX price is $0.057961, and the 24-hour trading volume has been reported at $151,295,255. Moreover, the coin has experienced a 12.71% increase in its price, attaining #4 on the top gainers list. 

5. Meme Kombat (MK)

Meme Kombat has made a notable entrance into the top crypto gainers today, creating a significant impact within the crypto landscape. With $789,547.27 raised out of a $1,000,000 goal in the current presale, the project is attracting early interest. Moreover, MK stands out due to its innovative gaming platform tailored to enthusiasts.

Furthermore, Meme Kombat offers a fusion of staking and betting, providing users with diverse ways to interact with the platform and earn rewards. Currently, 50% of the MK supply is available in the presale for $1.667 per token, with a hard cap set at $10 million. This dual approach, combining staking and betting, enhances the utility of MK tokens for its user base.

Furthermore, Meme Kombat has plans to list its tokens on a decentralized exchange. The project has allocated 10% of the total supply to provide liquidity, aiming to facilitate faster trading. This strategy, detailed in Meme Kombat’s whitepaper, underscores the project’s commitment to enabling the decentralized trading of MK tokens.

6. Qtum (QTUM)

Qtum is a blockchain platform and value transfer protocol that operates on a proof-of-stake consensus mechanism. The platform aims to combine the strengths of both Bitcoin and Ethereum on a single blockchain. 

QTUM PRICE CHART

It achieves this by adopting Bitcoin’s Unspent Transaction Output (UTXO) transaction model. Likewise, it facilitates smart contract execution and decentralized application (DApp) development. 

Qtum’s live price is $2.60, with a 24-hour trading volume of $49,073,946. Also, the coin has seen a 9.48% intraday price increase, placing it #6 in the list of top crypto gainers today. Currently, Qtum holds a market capitalization of $272,608,477, an 11% intraday increase. 

7. Flow (FLOW)

Flow operates on a PoS consensus mechanism, serving as the foundation for Web3 and the open metaverse. It aims to support various applications, including consumer-scale decentralized applications.

FLOW PRICE CHART

As of the latest available data, Flow’s native token (FLOW) is currently valued at $0.523938, and the 24-hour trading volume has reached $85,234,659. Over the past day, Flow has witnessed a 4.44% increase in its price. 

Flow’s positioning as a versatile blockchain platform, along with its adoption of the Cadence programming language. Therefore demonstrating its commitment to advancing Web3 and enabling various decentralized applications. While the project has experienced price fluctuations, it has established itself among the 7 top crypto gainers today, suggesting a degree of market recognition.

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