Due to the overall price drop across the market, investors can expect crypto assets to see a temporary pullback in price. As a result, a significant drop in price leads to an influx of funds into the network. Some of the popular cryptocurrencies are also the assets with the highest gainers in the past 24 hours. Here is a quick overview of these assets and what investors can expect from their price action in the coming months.
5 Cryptocurrencies That Gained Huge Gains on the Day
ARKM
Arkham is a blockchain analytics platform that uses artificial intelligence (AI) to de-anonymize on-chain data. It has an analytics platform for entity analytics and Intel Exchange for transaction intelligence. With an in-house AI engine and diverse data sources, it provides comprehensive insights into portfolio holdings and trading history. Although Arkham has been useful in tracking stolen funds and identifying fraudsters, it has faced criticism for potential privacy violations. However, it claims to only use publicly available blockchain data.
One of Arkham’s distinguishing factors is its commitment to comprehensive blockchain coverage and multi-chain integration, driven by its ULTRA AI system. This approach provides entity-based intelligence that supports various use cases such as transactions and compliance. Additionally, it operates a decentralized Intel Exchange that allows users to trade crypto intelligence using ARKM tokens. This unique feature fosters a vibrant community of on-chain detectives, increasing the availability of valuable intelligence to market participants.
ARKM is currently selling for $2.56; it recently rose by 1.59%, signaling potential momentum. Despite a modest market dominance of 0.02%, its 14-day relative strength index (RSI) remains neutral at 59.20, suggesting a possible sideways trend. Arkham has seen 15 green days in the past month, promoting a balanced trading pattern. Moreover, Arkham has proven its resilience with its manageable 30-day volatility of 9% and strong liquidity with a ratio of 0.9488. It has a market cap of $385.29 million and a 24-hour trading volume of $365.55 million.
CORE
Core’s native token, CORE, has surged, recently hitting a new 52-week high of $3.68. The coin gained $36.3 in a single day. The surge comes after a recovery period that began in the fourth week of March, when prices bounced off support at $0.534. In just two weeks, the coin has gained 547% and is trading around $3.5.
Currently, CORE is trading at $3.44, with an intraday gain of 24.32%. The surge has brought its market cap to $3.08 billion, placing CORE among the top 50 cryptocurrencies. The price increase is largely attributed to Core’s strategic launch of coreBTC.
The initiative integrates Bitcoin’s powerful security features into the field of decentralized finance (DeFi), promising to provide a safer trading environment. Furthermore, market analysts say that if the current momentum continues, the rise in CORE price could reach even higher levels. Furthermore, longer time frame analysis shows that the altcoin formed a bullish reversal pattern known as a round bottom.
The pattern suggests that the coin’s previous downtrend may be coming to an end. It could signal the beginning of an uptrend. Today, CORE broke above the $3.5 resistance with a high-volume candle, sending a clear signal to buyers to continue rising.
Pokt
Pocket Network is a decentralized blockchain data platform that connects various blockchains to meet the data needs of Web3 dApps. Leveraging the POKT token, the protocol uses cost-effective economics to efficiently manage and distribute data. Its Proof of Stake (PoS) consensus mechanism ensures scalability and data consistency between dApps.
Recognizing the centralization vulnerability in the RPC layer of the Web3 stack, Pocket Network aims to address this issue. This is the first decentralized infrastructure project that prioritizes decentralization to mitigate the risks of Web3. A global node network supporting over 50 blockchains guarantees developers uptime, quality of service, availability, privacy, and censorship resistance.
The coin is currently priced at $0.228998, having seen a significant rise of 7.21% in the past 24 hours, reflecting increased investor interest. Although its market dominance is only 0.01%, its market dominance is belied by a 423% price increase over the past year. Despite recent volatility, the 14-day relative strength index (RSI) of 69.66 suggests a neutral stance. Additionally, Pocket Network maintains a balanced market position with medium liquidity, with 11 green days over the past 30 trading days, and 30-day volatility of 11%.
WOO
WOO Network was founded by Kronos Research in 2019 to solve the liquidity problem in the DeFi field. The project provides a front-end trading GUI and seamlessly integrates with various DeFi tools, making it available to users across platforms. WOO tokens serve as native currencies, facilitating transactions and connecting ecosystem participants.
WOO Network differentiates itself by democratizing access to liquidity through API integration. This feature allows trading platforms to efficiently access the project’s network, thereby enhancing traders’ liquidity. Additionally, WOO token holders enjoy free transactions and premium features, making the project stand out in the DeFi space.
WOO is currently ranked tenth among exchange tokens and exhibits mixed performance metrics. It has surged 4.78% in the past 24 hours and has seen a whopping 143% price gain in the last year. However, its neutral RSI and below-average 30-day volatility of 12% raise questions about its stability and potential risk. WOO has been a mediocre performer, with 47% of the past 30 trading days in the green. Investors should weigh these factors carefully before considering an investment opportunity.
PERSON
Bittensor has shown resilience despite the overall price decline in the cryptocurrency market. Today, TAO’s price is up more than 3%, and trading volume is up about 86%. Growing interest in the field of cryptocurrency artificial intelligence has provided a breeding ground for the TAO token.
The project aims to provide an open source protocol to support blockchain-based machine learning. As such, Bittensor is likely to become the platform that future crypto AI projects use to launch their projects. Ultimately, TAO tokens will play an important role in the crypto AI space.
As of this writing, the coin has broken out into the mid-range after a month of price decline. However, as the market returns to a bullish trend, TAO has the opportunity to fall into a reversal trend. Investors expect TAO value to rise back above $600 before the end of the second quarter.
Additionally, TAO’s technical analysis suggests that the token is undervalued at the time of writing. The token price is below the EMA 200, which indicates the market’s optimism towards the TAO token. Therefore, investors expect asset prices to return to their highest levels soon.
