SuperRare, Toncoin, IoTeX, and DeXe Lead the Crypto Market Amidst Volatility

The crypto market is currently navigating volatility, with Bitcoin briefly reaching $60K before dropping to $58,420—a 2.60% decrease in 24 hours.

The crypto market is navigating volatility, with Bitcoin briefly reaching $60K before dropping to $58,420—a 2.60% decrease in 24 hours. The total market cap is $2.07 trillion, with Bitcoin holding a 55.70% dominance, equating to a $1.15 trillion market cap. The Fear & Greed Index shows a reading of 28, reflecting market fear, while 78% of cryptocurrencies have lost value, and only 22% have gained in the last 24 hours. Amid this uncertainty, top gainers like SuperRare, Toncoin, IoTeX, and DeXe are making notable moves.

Biggest Crypto Gainers Today – Top List

SuperRare leads with a 24.39% daily surge and a 326% yearly gain, trading well above its 200-day SMA, signalling strong momentum. Toncoin follows with an impressive 7.95% daily rise and a 423% annual increase, also trading significantly above its 200-day SMA, reflecting notable growth. 

IoTeX shows a more modest daily gain of 5.88% and a 135% yearly rise but is trading below its 200-day SMA, suggesting some downward pressure. DeXe offers steady performance with a 4.74% daily increase and a 249% annual gain, trading comfortably above its 200-day SMA. Each top gainer excels differently, with SuperRare and Toncoin leading in growth, while IoTeX and DeXe show stability with future potential.

1. SuperRare (RARE)

SuperRare is a curated NFT marketplace focused on on-chain art, where artists and collectors engage in buying, selling, and trading digital artworks. Governed by RARE token holders through RareDAO, the platform ensures decentralized decision-making. Moreover, it is secured by Ethereum’s proof-of-stake mechanism, which requires validators to stake 32 ETH. Additionally, governance is reinforced with a 4/7 multi-signature wallet, further enhancing security and decentralization.

Currently, SuperRare is trading at $0.260585, marking a 24.39% surge in just 24 hours. Over the past year, the token has skyrocketed by 326%. This impressive performance places RARE first among the top gainers. In fact, it has outpaced 89% of the top 100 crypto assets. Additionally, it has seen 14 green days in the last 30, signalling solid momentum.

Technically, RARE is trading 203.62% above its 200-day Simple Moving Average (SMA) of $0.086334. This indicates strong upward momentum. Furthermore, the 14-day Relative Strength Index (RSI) is at 54.43, suggesting a neutral stance. Liquidity is another strong point for RARE. With a volume-to-market cap ratio of 3.5380, the token shows high liquidity. Moreover, with a 30-day volatility rate of just 28%, RARE presents a relatively stable trading environment.

THIS MONDAY ↴@coryvanlew takes the stage of

The next SuperRare Salonhttps://t.co/c6jGuJYbNJ

— SuperRare 💎 (@SuperRare) August 16, 2024

Recently, RARE grabbed headlines by surpassing the $0.3 mark, with a staggering 174.3% increase over the last seven days. This surge is fueled by growing interest in digital art. However, while excitement is high, the volatile nature of the market suggests cautious optimism. In any case, the future of SuperRare looks promising.

2. Toncoin (TON)

Toncoin has been gaining significant attention, particularly after its recent 9% price surge to $7.05. This rise is linked to its addition to Binance’s Launchpool, which boosts visibility and accessibility by allowing users to stake assets like BNB and FDUSD to earn TON tokens. This listing is a major endorsement that boosts short-term demand and also solidifies Toncoin’s position in the market.

Beyond this immediate impact, Toncoin’s long-term potential is underpinned by its strategic partnership with Telegram. As Telegram’s official Web3 infrastructure, TON aims to onboard 30% of all users by 2028, greatly expanding its user base and utility. TON’s advanced technology further complements this partnership. Its sharding mechanism enables near-limitless, ultra-fast transactions, ensuring scalability and efficiency for a growing user base.

Toncoin’s ecosystem is equally robust, offering services like TON Storage,