Last week saw a relatively quiet period for several cryptocurrencies, with Bitcoin and Ethereum experiencing a drop in price for most of the time. However, a few cryptocurrencies were able to resist the downward trend and showed strong performance, showcasing their resilience. Knowing which stocks have seen the biggest increase in value during the week can provide valuable information for both investors and fans. Let’s take a look at the top crypto gainers that have experienced a value increase of more than 10% in just one week, according to CoinMarketCap data. We’ll explore the reasons behind their growth and the impact it has had on the market as a whole.
Top Crypto Gainers:
1. Ondo (ONDO)
Market cap: $99.2 million
Ondo token is the top gainer of the week, with a 44.63% increase in value, currently trading at $0.7244. It has a 24-hour trading volume of $228.96 and a circulating supply of 1.39 billion ONDO. With a market cap of $99.2 million, the token ranks 99th according to CoinMarketCap. ONDO reached an all-time high of $0.8162 on March 21, 2022, boosted by BlackRock’s digital asset fund spotlight and expansion in the Asia Pacific region.
The recent spike in the token’s price can also be attributed to growing attention from major investors, known as “whales,” who have been trading significant amounts of ONDO. Data from crypto analysis tool Santiment shows an increase in whale transactions, with 91 unique transactions of at least $100,000 worth of ONDO in just 24 hours. This rise in engagement from major investors can indicate potential price fluctuations and have a significant impact on market trends.
2. Toncoin (TON)
Market cap: $17.36 billion
Toncoin follows closely behind with a 38.5% increase in value. It currently trades at $4.99 with a 24-hour trading volume of $355,595,787, making a strong presence in the crypto market. TON has a circulating supply of 3.47 coins and a market cap of $17.36 billion, ranking 11th.
Ton Foundation recently announced a distribution plan to distribute $115 million worth of Toncoin through its Open League initiative on April 1. This news led to a 10% surge in Toncoin’s price and sparked optimism for its future trajectory. The initiative aims to incentivize and reward different user segments within the Telegram community, fostering competition, innovation, and community engagement within the Ton ecosystem.
3. Stacks (STX)
Stacks recorded a 30.56% gain in its value, reaching $3.53 today. Its trading volume of $269.5 million indicates increased investor interest in the token. With a circulating supply of 1.45 billion STX, it boasts a market cap of $5.1 billion, ranking 46th. Stacks hit an all-time high of $3.69 on March 22, 2024.
Stacks is a Bitcoin layer for smart contracts that allows for the use of Bitcoin as an asset and finalizes transactions on the Bitcoin blockchain. The recent surge in STX’s market price can be attributed to the approval of a significant upgrade for the Stacks network. On March 20th, the Stacks community overwhelmingly voted in favor of this upgrade, with more than 150 million STX tokens supporting the update. This shows a significant commitment from the community towards the project’s development.
4. Fantom (FTM)
Fantom (FTM) witnessed a 23.5% growth in its value and is currently trading at $1.08. The token continues to attract investors, with a trading volume of $426.99 million. With a market cap of $3 billion and a circulating supply of 2.8 billion coins, FTM ranks 43rd.
Fantom is a directed acyclic graph (DAG) smart contract for DeFi services, utilizing its unique consensus algorithm. It addresses issues like transaction speed, reduced to under two seconds on smart-contract platforms. The recent surge in FTM’s price can be attributed to the co-founder Andre Cronje’s return on social media, promoting the project’s achievements. Cronje highlighted Fantom’s 10,000 TPS, exceeding Sei and Sui blockchains, and compared Fantom’s FVM to E
