The cryptocurrency market has seen a flurry of activity over the past 24 hours as rumors about a potential spot BTC ETF approval began to heat up again.
Several major altcoins have posted double-digit gains in the past day, while an array of low-cap tokens are also generating substantial traction.
This article will highlight today’s top 10 crypto gainers, analyzing the key factors driving their rallies amid growing market optimism.
One of the top crypto gainers in the market right now is SOL, the native token of the Solana blockchain.
SOL saw a massive rally throughout October, rising from $21.31 to $46.70 – a 118% increase.
Since the start of November, SOL has continued its bullish momentum and is now trading just above the vital $50.00 level.
This marks SOL’s highest value since August 2022, pushing the token’s market cap to over $20.7 billion.
Large inflows into Solana-focused investment funds and increased developer activity have helped renew the momentum behind SOL, making it one of the most talked-about tokens in the crypto market.
The newly launched Bitcoin ETF Token (BTCETF) is an Ethereum-based cryptocurrency looking to capitalize on speculation around a spot Bitcoin ETF approval by the SEC.
The project is currently conducting a presale with a stage-based pricing model, with investors able to buy BTCETF for $0.005 per token.
BTCETF employs a deflationary tokenomics structure, with transaction taxes and token burns decreasing the circulating supply over time as certain ETF milestones are hit.
Bitcoin ETF Token also provides staking rewards of over 900% per year for its holders.
Although not yet available on the open market, BTCETF could be poised to explode if the current level of demand is sustained post-listing.
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Bitcoin is also one of the top crypto gainers, mainly due to the buzz surrounding a potential spot BTC ETF approval in the US.
In October, rumors emerged that BlackRock’s spot BTC ETF filing was on the verge of being approved by the SEC.
Although the fund has yet to be given the green light, investor anticipation around such a huge event has prompted a wave of demand for BTC, sending it above the $37,000 level.
The Crypto Fear& Greed Index has also risen above 70, indicating investors are in “Greed” mode.
With BTC now up 122% year-to-date, the asset is drawing attention from a wide range of investors – even those traditionally skeptical of crypto.
ORDI is the native token of the Ordinals protocol, which allows users to embed data into the Bitcoin blockchain by inscribing references to digital assets in small BTC transactions.
This enables the creation of unique digital collectibles and NFTs on top of Bitcoin using the BRC-20 token standard.
The ORDI token was recently listed on Binance, the world’s largest cryptocurrency exchange, prompting its value to soar to almost $20.00.
ORDI is also now ranked first on CoinMarketCap’s list of the top trending cryptocurrencies over the past seven days.
Although profit-taking is now a concern, the listing has significantly raised ORDI’s profile, attracting a new wave of investors.
Bitcoin Minetrix (BTCMTX) aims to make cloud mining more accessible through a decentralized platform allowing users to stake BTCMTX tokens in exchange for mining credits.
As the first project debuting a “stake-to-mine” model for earning BTC rewards, Bitcoin Minetrix has already generated massive buzz in its presale phase.
The ongoing presale has already raised over $3.7 million to date, with BTCMTX tokens on offer for $0.0115.
Looking at the tokenomics, 42.5% of the total supply has been set aside for the mining pool, while 15% will be used for community rewards.
This strategy highlights the community-focused approach of the developers – positioning Bitcoin Minetrix as a project that may be set for explosive growth ahead of the 2024 Bitcoin halving event.
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Lido DAO is a decentralized autonomous organization (DAO) that governs Lido, a liquid staking protocol for Ethereum and other proof-of-stake blockchains.
LDO is the native token of Lido DAO, used to vote on proposals to manage Lido’s development.
The token’s price has been on a tear lately, soaring over 26% in the past 24 hours and hitting the $2.30 level – its highest point since July.
One of the main reasons for LDO’s surge is BlackRock’s filing for a spot Ethereum ETF, which has spurred investor interest in Ethereum-based projects and protocols.
This announcement signals a significant step forward in the mainstream adoption of Ethereum – indirectly boosting the perceived value of LDO tokens.
Operating anonymously through Telegram, TG.Casino (TGC) offers a blockchain-based crypto casino and sportsbook that are accessible to all.
The casino features hundreds of traditional games, slots, and live dealers, requiring no extensive KYC processes to get involved.
However, this doesn’t come at the expense of safety – TG.Casino has a full gaming license from Gaming Curacao and has been audited by Coinsult.
The project’s presale has proven popular with GambleFi investors, raising $1.8 million so far.
Moreover, with staking APYs of over 280% on offer, TG.Casino is attracting huge interest from both crypto enthusiasts and online gambling communities.
Rocket Pool (RPL) is a decentralized protocol allowing people to stake Ethereum without needing 32 ETH to run their own validator node.
Users can stake as little as 0.01 ETH by obtaining rETH tokens representing staked ETH and earning rewards over time.
Much like Lido DAO mentioned previously, the buzz around Rocket Pool has grown due to BlackRock’s filing for a spot ETH ETF.
If approved, this application could significantly enhance the visibility of Ethereum-based staking services, such as Rocket Pool.
This potential development is creating a sense of excitement among investors, resulting in the RPL token being one of the top crypto gainers today.
Meme Kombat (MK) is a meme-inspired gaming ecosystem combining battles, betting, and staking into one experience.
The battle arena is Meme Kombat’s flagship feature, allowing users to wager their MK tokens on the outcomes of AI-powered fights.
Users can also lock up their MK in the staking pool to earn yields of 112% per year.
Interestingly, these yields are automatically accrued throughout the presale phase, which has raised over $1.4 million thus far.
Given the enormous hype around utility-driven meme coins, Meme Kombat could be poised to capitalize on this trend and deliver sizable returns to early investors.
Lastly, Chainlink (LINK) has also seen a significant rally recently, hitting a high of $15.99 on November 9.
This high resulted from a 47% surge that began the previous week, taking LINK to the 12th spot in CoinMarketCap’s list of the world’s largest cryptos by market cap.
There have been few clear catalysts for LINK’s rise, with the token mainly being influenced by indirect factors, like optimism around a spot BTC ETF approval.
However, telecoms company Vodafone recently began using Chainlink’s oracles to facilitate certain transactions.
This partnership is seen as a significant validation of Chainlink’s technology, prompting a wave of buying demand for LINK tokens.
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