The cryptocurrency market has remained above the 70 greed zone mark in recent weeks. Despite some fluctuations here and there, the top cryptocurrencies are holding their positions well in the market. Bitcoin has fallen from the $52,000 level, while Ethereum has surpassed the $3,000 level. These are eternal cryptocurrencies, but in this blog, let's discuss “Today's Top 3 Trending Coins”.
Top 3 trending coins in the virtual currency market
There are over 2.2 million cryptocurrencies in existence. The competition is fiercer than we think, as each has unique features and great use cases. Hundreds of factors influence a cryptocurrency's performance, including community support, industry trends, and development features. As a result of competing on these factors, the top trending altcoins are as follows.
1. Draghi
Dragy is a newly launched meme coin with a market capitalization of $487,688. This is a meta-he token based on the Solana chain with the dragon symbol, and since 2024 is the year of the dragon, the community is hoping for good luck and profits from this coin.
It recently hit an all-time high of $0.0001528 four days ago and is currently down 68%. It is currently trading at $0.00004709, up 16% from last week. This price increase increased trading volume by more than 200%, reaching $4,598,465. Prices fluctuated rapidly within a few days. I have been through many ups and downs.
2. Jasmy Coin
JasmyCoin is an IoT product from Japan, committed to the mission of protecting data rights. What sets it apart from other cryptocurrencies is its approach to democratizing data management.
JASMY has surged more than 45% in the past 24 hours, reaching 230% in one month. Trading volume was $0.01634, and trading volume was $1,409,445,477, an increase of 75%. The previous highest price was $4.99 on February 16, 2021, making it the highest price last year.
It has been bearish for years and token inflation is the reason. Token inflation refers to more and more tokens entering the market. In the case of JasmyCoin, the circulating supply has increased approximately 10 times per year since stranding.
This spike happened after Guarda Wallet became available for JASMY. JASMY price increase will benefit not only investors but also the coin. The coin has become popular among the community, with transaction value increasing by more than 75% in the past 24 hours.
3. Starknet
StarkNet is trending, but for the wrong reasons. The chart continues to fall. StarkNet is a layer 2 solution that was recently launched on centralized exchanges including Binance. Within a day of its release, prices skyrocketed by more than 7%, and then fell by 40%.
Starknet is trading at $1.87, down more than 20%. Trading volume was similar, falling by 42%.
Airdrops increase StarkNet's circulating supply, impacting its scalability. As a result, the demand for the token is decreasing and the price is falling.
conclusion
Dragy, JasmyCoin, and Starknet are the top three trending coins in terms of coin market cap, with some coins making profits and others struggling. The cryptocurrency market is full of ups and downs, and the charts can move in a different direction at any time.
The published content may include the personal opinions of the author and may be subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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