This Week's Trending Coins: OM, ETH, and BERA Lead the Pack, While New Listings Such as IP, BERA, and KAITO Enjoy an Explosion of Interest

This week, the cryptocurrency market experienced considerable swings, with some tokens capturing attention because of their remarkable price trajectories and surging desirability.

CoinGecko data shows that $OM, $ETH, and $BERA are now three of the most sought-after assets in the cryptocurrency space, enjoying an uptick in both interest and investment.

Alongside these more familiar names, freshly minted coins such as $IP, $BERA, and $KAITO are also enjoying an interest explosion, marking a clear shift in investor focus toward unknown but exciting opportunities in crypto.

This week, $OM (@MANTRA_Chain) leads the pack, followed by $ETH (@ethereum) in second place and $BERA (@berachain) in third.

Keeping an eye on these?https://t.co/wR2b6z7a17 pic.twitter.com/EfUvWn19aP

— CoinGecko (@coingecko) February 21, 2024

Top 20 Trending Coins on CoinGecko

At the top of CoinGecko’s trending list is $OM, the token related to MANTRA Chain, a project bringing decentralized finance (DeFi) to the masses. Exploding token interest has solidified $OM's position as this week’s leading token.

So, what is driving this newfound enthusiasm? For starters, MANTRA Chain is built on some strong, and increasingly relevant, foundations. It has clear solutions regarding staking and governance—two aspects of not only $OM but also MANTRA Chain’s DeFi ecosystem that underpin the next phase in the evolution of decentralized finance. Furthermore, their ambitious community governance model is a real-world project governed by the users of the platform in ways that traditional finance could never imagine.

Coming in right behind $OM is Ethereum ($ETH), one of the most recognized and oldest cryptocurrencies in the market. The second-largest cryptocurrency by market capitalization, Ethereum continues to hold the esteem of a bespoken base of investors and developers.

For all intents and purposes, Ethereum remains a goliath in the space and the only serious competitor to Bitcoin, owing to its long-standing reputation in the blockchain ecosystem and the urgency of ongoing windfall developments—namely, the Ethereum 2.0 “upgrade” that promises to put the platform on par in terms of network scalability with BTC, by far the most durable coin in the space. This week, Ethereum not only staved off some near-term “competition” from its own doppelgänger, $OM, but it has also been trying to shake off the effects of some “bad news” that keeps haunting it from the past.

In the third-place position, we have BERA, a native token for Berachain. This is an up-and-coming blockchain ecosystem that is attracting attention for its distinctive way of mixing two different blockchain consensus protocols, the one used by Ethereum and the one used by Bitcoin.

By focusing on combining ideas from these two successful projects while also being rigorously “ecosystem-centric” (meaning the way it is built and functions is largely in service of the projects that want to run within it), Berachain is offering what seems to be a solid, well-thought-out proposition. Consequently, BERA has been gaining attention and reaping up substantial rewards this week for being part of the next big thing. We should also note that Berachain is a project built by a team that has become well known for being able to execute ideas effectively.

Newly listed coins are on fire! 🔥• $IP spiked to $9.5 in a short squeeze, now sitting at $5—still up 189% this week.• $BERA & $KAITO also hitting fresh highs.

Momentum is building—who’s catching these moves? pic.twitter.com/tgxHowPnxe

— Kyledoops (@kyledoops) February 21, 2024

New Listings on Fire: $IP, $KAITO, and More

While established tokens such as $OM, $ETH, and $BERA lead the charts, coins recently listed have also shown exceptional growth this week, seizing the interest of traders and investors.

One of the highlights this week is $IP, which enjoyed a short squeeze that sent its price from $3.5 up to $9.5, before it settled around $5. Even so, $IP is now up an incredible 189% for the week.

If we didn’t know better, we’d think that the untapped potential of new listings was the cause of the superb price action seen with $IP. Four days into the week, some traders had already concluded that the $IP listing was going to be a buy-and-hold affair. Surprise, surprise, $IP is still one of the tokens up for grabs in the buy-and-hold category, even as its price retraced nearly 48% from the almost-$10 highs we saw earlier in the week.

In addition to $IP, we have $KAITO—no, not a character