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Cryptocurrency News Articles
Sui [SUI] Surges Past Toncoin [TON] as the Highest YTD Gainer Among Major Cryptocurrencies
Oct 15, 2024 at 02:00 am
Until recently, Toncoin was the highest gainer year-to-date (YTD) among major cryptocurrencies. However, Sui [SUI] has emerged as a strong contender
The cryptocurrency market has experienced varying fortunes in 2023, with some digital assets posting impressive gains while others have struggled to maintain momentum. Among the top performers, Toncoin (TON) and Sui (SUI) have stood out with their remarkable year-to-date (YTD) gains.
At the start of the year, Toncoin garnered significant attention and enjoyed a wave of interest. Commencing the year at a price of around $2.3, TON witnessed a surge in value, particularly from March onwards. By June, the cryptocurrency had soared to over $8, registering a substantial increase.
As press time, TON was valued at approximately $5.2, exhibiting a moderate daily increment of over 1%. Despite these gains, Toncoin faced a bearish trend, evident in its Relative Strength Index (RSI) dipping below the neutral line, indicating a slowdown in price momentum.
Chart: CryptoSlate
In terms of YTD performance, Toncoin's gains were highlighted by CryptoRank, showcasing an increase of over 126%. This stood in stark contrast to Bitcoin (BTC), the highest-ranked cryptocurrency, which had risen by 51% YTD.
Meanwhile, Sui has surged past Toncoin to become the highest gainer in terms of YTD performance. An analysis of Sui's price chart reveals that its YTD gains have soared past 180%.
According to data from CryptoRank, at the time of writing, Sui's gains stood at an impressive 187.7%, making it the top performer among the top 20 cryptocurrencies.
Chart: CryptoSlate
Currently, SUI was trading at around $2.2, reflecting a 3% decline from its recent all-time high (ATH) of $2.3, attained in the last trading session. At the beginning of the year, Sui was valued at approximately $0.6, showcasing its remarkable growth in just a few months.
Despite the recent pullback, Sui remained in the overbought zone, with its RSI hovering around 70. The recent decline had slightly reduced its RSI; however, it was still firmly within the overbought territory, suggesting that there may be further room for price corrections.
Interestingly, at the time of Sui's impressive YTD gains, it was not even considered among the top contenders for YTD performance. This highlighted the cryptocurrency's recent surge and the shifting landscape in the crypto market.
Moreover, despite Sui's recent surge and greater YTD gains, Toncoin still maintained a significantly larger market capitalization. According to CoinMarketCap, Toncoin's market cap was around $13.4 billion, making it the 10th-largest cryptocurrency by market cap.
In contrast, Sui, while impressive in its recent performance, held a market capitalization of $6.2 billion, placing it 17th among the largest crypto assets. Although Sui had outperformed Toncoin in terms of YTD growth, it still lagged in overall market share.
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- Western Europe Faces Spike in Violent Home Invasions and High-Stakes Robberies
- Oct 15, 2024 at 06:15 am
- There has been a significant increase in violent home invasions aimed at cryptocurrency holders in Western Europe. Blockchain investigator ZachXBT reported receiving numerous messages from victims, highlighting a trend of criminals using extreme measures to steal digital assets.