The cryptocurrency market has been experiencing fluctuations in prices, especially after the strong US inflation reports were released. As a result, some investors have begun to take profit, causing resistance for Bitcoin at $72,000 and a slight rise in Ethereum’s temperature.
Among the best performing cryptocurrencies, Injective (INJs) and Avalanche (AVAX) have stood out with a jump of over 20% in their prices. Other top gainers include Near Protocol, Ordi, Celestia, Algorand, and THORChain, which is a new addition to the market. The sale of Memeinator tokens has also surpassed $6.4 million.
Injective and Avalanche: Top Gainers in the Cryptocurrency Market
Avalanche, also known as AVAX, has seen a surge in its price to the highest level since May 2022. At its peak, the coin had risen by over 550% since its lowest level in 2023. Injective, on the other hand, has also had a bullish breakout, reaching its all-time high. It first traded at $0.64 in October 2020, and now stands at over $800, having gained a significant increase in value.
The crypto fear-and-greed index currently indicates extreme greed (85), which is usually a favorable condition for altcoins. This explains the recent surge in their value.
In the past few months, both Avalanche and Injective have experienced notable growth in their ecosystems. The number of Avalanche addresses has increased from 76k to over 76k, with a Total Value Locked (TVL) of $1.7 billion, making it the eighth biggest blockchain in the world. Injective, a platform backed by Mark Cuban and Polychain Capital, has also seen a strong influx of new customers, with its TVL at a new record of $177 million. Hydro Protocol, DojoSwap, Helix, and Mito Finance are among the popular tokens handled by the DEX in the last 24 hours, with a total value of almost $100,000,000.
Memeinator Token Sale in Progress
Meanwhile, Memeinator is making waves in the crypto industry as a top performer. The developers have successfully raised $6.4 million, and the token is currently in its 18th stage, with two more stages to go before the sale ends. The tokens will then be listed on major centralized and decentralized markets.
For beginners, Memeinator is a new cryptocurrency that aims to leverage three major themes of the market: artificial intelligence (AI), gaming, and meme coins. The market capitalization of all meme coins combined is currently over $65 billion, and AI has emerged as the fastest-growing technology, with companies like Nvidia reaching a market value of over $2 trillion. Gaming tokens like Axie Infinity and Gala Games have also gained popularity, making them top coins in the market.
The developers of Memeinator are optimistic that these themes will propel their market capital to millions or even billions of dollars. The MMTR token can be purchased through the provided link.
