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Top 10 Gainers in Crypto Market Today: Newton Project, Onyxcoin, SKALE, Kasta Lead the Way
ByAinvest
Monday, Jan 27, 2025 8:38 am ET1min read
The cryptocurrency market has seen a 0.54% rise in total market valuation, with most digital currencies experiencing moderate price increases. Newton Project led the top 10 gainers with an 86.9% gain, followed by Onyxcoin with a 74% increase. Other top gainers include SKALE, Kasta, Mantra, Alpha Quark Token, and Plume. The market's volume has declined by 29.43% to $80.28 billion.
The cryptocurrency market experienced a notable rise of 0.54% in total market valuation over the past 24 hours, according to data from Coincodex [1]. This surge in value was accompanied by moderate price increases for most digital currencies. The top 10 gainers in this period were Newton Project, Onyxcoin, SKALE, Kasta, Mantra, Alpha Quark Token, and Plume.Newton Project, a cryptocurrency project focused on building a decentralized exchange and lending platform, led the top gainers with an impressive 86.9% increase in value [2]. Onyxcoin, a privacy-focused cryptocurrency, followed closely behind with a 74% surge [3].
The reasons behind these significant gains are multifaceted and can include a variety of factors such as market sentiment, technological developments, and regulatory updates. However, without access to more specific information, it is impossible to pinpoint the exact causes of these gains.
Despite the recent surge in trading volume and market valuation, it is important to note that the cryptocurrency market is highly volatile and subject to significant fluctuations. As such, investors should exercise caution and thoroughly research any investment opportunities before committing their funds.
It is also worth noting that the cryptocurrency market is still relatively small compared to other asset classes. According to data from Fortune Business Insights [2], the global cryptocurrency market size was valued at USD 910.3 million in 2021 and is projected to reach USD 1,902.5 million by 2028, exhibiting a CAGR of 11.1% during the forecast period.
In comparison, the U.S. stock market had an estimated daily volume of USD 478.72 billion in 2021 [1], while the global foreign exchange market had an estimated daily volume of USD 7.50 trillion [1]. These comparisons highlight the relative size of the cryptocurrency market and should be viewed as informative rather than definitive.
References:
[1] Coincodex. (n.d.). Total Market Cap Total Volume. https://coincodex.com/trading-volume/
[2] Fortune Business Insights. (2022, February 11). Global Cryptocurrency Market Size, Share & Industry Analysis, By Type (Bitcoin, Ethereum, Litecoin, Others), By Application (Trading, Investment, Others), and Regional Forecast, 2021-2028. https://www.fortunebusinessinsights.com/industry-reports/cryptocurrency-market-100149
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