Altcoins Theta, Pyth, and Stacks Surge With Bitcoin in Latest Crypto Rally


Theta, Pyth, and Stacks are strong dark horses amid today’s crypto rally, emerging as the top gainers among the top 100 cryptocurrencies by market capitalization. They are all following PEPE, a memecoin that registered a mindblowing 55% in the last 24 hours.

This altcoin surge comes amidst a rising crypto market, with the overall market capitalization of all cryptocurrencies combined growing by a staggering $155 billion in the last 24 hours alone. Although Bitcoin has always been the star of the show—on fire now thanks to spot ETF inflows and next month’s halving—Ethereum has also been gaining traction and institutional interest, continuing its own bullish trend and contributing to the overall market’s positive momentum.

Theta (THETA) has been the second-best performing token in the top 100, registering a 23% spike in the last 24 hours and a remarkable 73.7% surge in the last seven days. The token’s price has jumped from $1.60 to $2.20 in the last 24 hours, a significant leap from its $1.10 price tag seven days ago.

Theta is a layer-1 blockchain and decentralized infrastructure for video and entertainment use cases and operates with two native cryptocurrencies: THETA, the staking and governance token, and TFUEL, used as gas for all transactions and on-chain smart contract interactions. TFUEL, despite having a lower market capitalization, has also seen a 7% spike in the last 24 hours, going from $0.054 to $0.060.

The anticipation for Theta’s upcoming EdgeCloud phase, slated to launch on May 1, seems to be driving this bullish sentiment. The foundation supporting EdgeCloud’s AI computing infrastructure has been in development for many years, and traders appear to be optimistic about its potential impact in the network’s ecosystem.

Pyth Network (PYTH) has secured the third spot among the top gainers, with 22.5% growth. The coin has jumped from $0.50 to $0.70, following a relatively flat week where it started at $0.55.

PYTHUSDT 2024 02 27 14 56 41

Pyth is an oracle network that delivers real-time market data to financial dApps across more than 40 blockchains. It provides over 380 low-latency price feeds across cryptocurrencies, equities, ETFs, and other financial instruments. The recent announcement of the rollout of real-time price feeds for Bitcoin exchange-traded funds (ETFs) has spiked the coin’s popularity and, most likely, its price.

Lastly, Stacks (STX) has seen a 12.7% spike in the last 24 hours, going from $2.75 to $3.11. The coin experienced a daily high of $3.20 before settling at its current price.

STXUSD 2024 02 27 14 57 07

Stacks offers a Bitcoin layer for smart contracts, making it possible for decentralized applications to use Bitcoin as an asset and settle transactions on the Bitcoin blockchain.

As for the losers, Worldcoin is the worst performing crypto of the top 100, down 10% in the last 24 hours, a possibly overdue correction given the extremely bullish spike of the previous days. Right now the token is still up 14% in weekly candlesticks and trades at around $7.30 per token.

Depin and AI tokens are also upside down today, even though the weekly performance is still strong and in the green. Filecoin is down 6% and is being traded at around $7.60, Near Protocol lost 4.7% to hit $3.90, and SUI and Singularity Net is down 8.6%, trading hands at around $3.90.

Edited by Ryan Ozawa.



Source link

About The Author

Scroll to Top