Top Crypto Gainers on 28 February – AR and JASMY
The crypto market is constantly changing, and today is no different. In the last 24 hours, the total market capitalization reached $2.22 trillion (3.55%), showing that people are generally optimistic about the market.
Also, the Fear & Greed Index, which measures market sentiment, is 82, indicating greed.
As such, most cryptocurrencies have gained value, with the leader, Bitcoin, seeing the most significant increase at 15.66%. Apart from BTC, we've handpicked some coins from the top gainers list today, and the four standout coins are AR, JASMY, SPONGE V2, and SMOG.
These assets are interesting because they each have unique features that impact the cryptocurrency world. What's more? A few ecosystem-related developments and positive sentiments could be added variables behind their gains today.
Arweave (AR) Surges over 40% Following Recent Milestone
The popular decentralized storage system for permanently storing data and web pages, Arweave (AR), has suddenly surged by over 40% due to improvements in its network.
This jump has made AR one of the biggest gainers among the top 100 cryptocurrencies by market cap, attracting more attention.
Remarkably, it is also the top gainer on Binance. Notably, the founder of Arweave, Sam, highlighted a recent achievement on Twitter, stating that the network is now processing over 600 transactions per second (TPS) smoothly.
This is a significant milestone, as it demonstrates the network's ability to handle a large volume of transactions efficiently, surpassing similar blockchains. Additionally, the recently launched testnet module, Arweave AO, which acts as a hyperparallel computer within the Arweave network, is also causing traction.
@ArweaveEco has been building something incredible:
A hyper parallel computer living inside Arweave.
PoS computation that lets any number of processes execute in parallel.
Oh, and it offers temporary storage.
All on Arweave.
Testnet: Live.
Join us: 2/27.@aoTheComputer. pic.twitter.com/9he989YvHx
-
sam.arweave.dev (@samecwilliams) February 12, 2024
This module allows massively parallelized computations, enabling tasks like AI data training that require significant computational resources spread across multiple nodes.
This expansion of functionality shows Arweave's commitment to advancing utility and innovation in decentralized storage and computing rather than stagnating after its initial offering.
As of 6:45 am EST, Arweave (AR) is trading at $23.06 with a 24-hour increase of 38.35%. Its trading volume has jumped to more than $452.5, with a massive 566.16% increase within the same time frame.
Arweave Remains Bullish Amid Price Rejection - Can The Rally Prevail?
Arweave (AR) has touched a new swing high of $27.41 today, hinting at increased buying pressure from optimistic traders. It has maintained its green candlestick formation in the last five days, suggesting further price rallies in the coming days.
As a result, AR token accumulation has surged to 258.964K, as seen on the trading volume indicator.
Furthermore, the coin's price has broken above the dynamic resistance level marked by the upper Bollinger band, a bullish signal. With these variables combined, the coin is expected to hit more price levels, touching at least a $28 high in the coming days.
However, the Bollinger bands are widening, hinting at upcoming volatility. For this reason, traders and investors should adopt proper risk management strategies and tactical trade setups to be on the winning side.
JasmyCoin (JASMY) - Records New Price Levels Thanks to 54.19% Whale Holdings
On the reputable crypto analytics platform Coinmarketcap, there are over 27.73 billion whales and 11.32 billion investors. This massive number of whales holding more than 1% of the circulating supply of the JasmyCoin, JASMY, has triggered speculations around the coin.
Without a doubt, these whales can buy or sell large amounts of the token, which changes how much of it is available.If they buy a lot, it can make the token harder to find, so its price goes up.
This could make other investors more interested in buying because they think the token will be worth more in the future.
The renewed interest could drive the increased 82.45% trading volume of JASMY. Thescarcity will trigger a price pump if more people buy the token. Now, the coin is at $0.01772, up by 18.24%, with a trading volume of up to $595.3 million.
This growth in the JasmyCoin ecosystem is evident in its Telegram channel, launched in January 2024, which now has over 4000 members.
#Jasmy & #Janction 's Telegram, which was rebuilt again in January, now has over 4,000 users
.
Telegram is designed to get official information out a little earlier than X, so that you can rely on the conversation.
Join Telegram! https://t.co/ZFv4xBlRez#Jasmy #Janction pic.twitter.com/m9JiiQC0jr
- KJ (@0xjasmy) February 23, 2024
While speculations surround the coin due to the presence of many whales and investors, the technical analysis of JASMY could hint at what to expect in the long run.
JASMY Hovers Below Upper Bollinger Band - Can This Resistance Level Prevail?
In the chart above, the coin JASMY has made a new swing high, forming a consecutive green candle stick today. This shows the increase in buying pressure and persistent bull actions.
Again, the Moving Average Convergence Divergence (MACD) is above the signal line and has formed a green histogram bar.
This bullish indicator hints at strengthened momentum for the bulls to push JASMY's price up today. Moreover, the candlestick pattern is showing a bullish harami, indicating a price rally continuation in the coming days.
Combining these variables, profit-taking traders can enter the market to ride this bull run to the market's upside.
However, given the resistance level marked by the upper Bollinger band, JASMY could stagnate before the expected surge.As such, traders should have smart trade setups and safe risk management strategies to protect their funds in this volatile market.
Sponge V2 (SPONGEV2) - The Meme Coin with a Proven Track Record
Sponge V2 is an exciting project that began in 2023 with version 1 that launched during the memecoin season.Currently, version 2 is significantly impacting the crypto community amid speculation of a possible bull run this year.
Sponge V2 rewards users through a staking system and supports an automatic staking feature for new purchases.
After version 1 ended due to security concerns, users were mandated to bridge their tokens to the new and secure version 2 staking pools. Over $12.14 million worth of $SPONGE tokens have been bridged, and the holders will receive an equivalent amount of $SPONGEV2.
What's New?You're not ready for $SPONGE
#Web3 #Crypto #MemeCoin #Alts pic.twitter.com/RA9AKTddyg
- $SPONGE (@spongeoneth) February 27, 2024
Sponge V2 comes with extra utility and a determination to absorb sufficient liquidity from investors to exceed a market cap of $100 million. Also, the developers are working on a Play-to-Earn (P2E) where gamers can earn SPONGE V2 tokens directly from gameplay.
This game will attract more game lovers to the Sponge ecosystem and give the tokens utility, boosting their value. Gaming is one of the fastest-growing sectors in the crypto space, and Sponge is well-positioned to take advantage of the current trend.
Sponge V2 Positive Reviews Highlight PotentialYouTube crypto analyst ClayBro predicts Sponge V2 will give investors up to 25x gains. The analyst references Sponge V1's performance in 2023 as an indicator that it will do the same and even perform better in 2024.
Further, ClayBro said that the roadmap showed promise and that the tokenomics will attract more investors to the Sponge V2 ecosystem.
Also, another prominent analyst, Jacob Crypto Bury, labeled Sponge the next 100X crypto. He highlighted a bullish pattern from the $SPONGE live trading chart, noting a possible price increase ahead.
While these analysts give optimistic predictions for SPONGE V2, we still encourage investors to conduct proper research and consider price volatility.
Smog (SMOG) - The Greatest Airdrop On Solana
Smog Token launched in February 2024 and has become a viral sensation in the crypto community.It is the greatest Solana Airdrop of all time, rewarding investors who hold or stake their SMOG tokens.
SMOG also rewards other token holders on the Solana Blockchain, such as BONK holders, making it a unique airdrop concept.
Also, SMOG runs on both Solana and Ethereum, making it a cross-chain crypto token. According to the tokenomics, 35% of the total supply will be distributed as airdrop rewards, while 50% will go to marketing efforts to increase its fan base.
SMOG has quickly attained a market cap value of $38.95 million, with over 700,000 quests completed as users battle for airdrops.
Roadmap Reveals Exciting ProspectsAccording to the Smog Token roadmap, phase 1 will focus on airdrop research, website development, and token deployment. Next, phase 2 covers the token launch.
Ethereum liquidity pool, staking, and social dominance. Finally, phase 3 will focus on airdrop launches and social mastery.
Also, the target will be to cross 100 thousand holders, which confirms growth.Investors who purchase SMOG tokens now will also enjoy a 10% discount and gain staking rewards as 42% APY if they decide to stake their tokens.
Also, SMOG's launch coincides with a general improvement in the market and possible rewards for investors.
According to Crypto World Daily, Smog Token attracts thousands of investors because of its airdrop and the opportunity to earn rewards.Also, crypto analyst Matthew Perry believes that SMOG might be the King of Solana meme coins based on its reward system and vibrant community.
We believe that Smog Coin might enjoy similar success to other Solana projects, such as BONK, and benefit from the positive trend in the market. However, there are no certainties in investment, and all investors make decisions at their own risk.
Final VerdictThe crypto market is in a solid bullish phase as Bitcoin tests the $60,000 price level. This positive sentiment is also evident in the prices of altcoins and other new tokens as crypto adoption grows.
As such, investors must carefully consider their options and diversify investments to manage risk exposure. As adoption and accumulation continue, thebullish trend will likely persist beyond the first quarter of 2024.
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