Top Crypto Gainers Today Aug 13 - Saga Protocol, Convex Finance, Echelon Prime, Siacoin

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Prior to now 24 hours, the cryptocurrency market traded $386.14 billion, but the temper stays cautious. With the Worry & Greed Index at 31, worry is palpable amongst buyers, casting a shadow over the market. Though the vast majority of cryptocurrencies, 81%, have misplaced worth, a glimmer of hope persists as 19% managed to publish positive factors. This stark distinction reveals a market grappling with uncertainty but hinting at pockets of resilience.

Greatest Crypto Gainers Right this moment – High Listing

Regardless of the prevailing market volatility, a choose variety of high gainers are demonstrating substantial positive factors. Saga Protocol leads with a powerful 27% surge, pushed by its transformative liquidity integration. Following carefully, Convex Finance is up 8.72%, due to its enhanced rewards system. Echelon Prime additionally makes a notable affect with an 8.23% improve, strengthening its place within the Web3 gaming sector. Siacoin contributes to the constructive momentum with a 4.17% rise, supported by its progressive decentralized cloud storage. With out additional ado, let’s delve right into a complete evaluation to look at their total market efficiency.

1. Saga Protocol (SAGA)

Saga tackles liquidity fragmentation, a typical drawback with the rise of a number of blockchain chains and applied sciences. Conventional options like bridges and aggregators typically require complicated, handbook setups, making a difficult person and developer expertise. Nevertheless, Saga’s Layer 1 protocol introduces a streamlined method via its Liquidity Integration Layer (LIL). Consequently, LIL routinely hyperlinks new chainlets to a unified liquidity community, successfully addressing liquidity fragmentation and making certain easy cross-chain interactions.

Its LIL options 4 key improvements. First, it automates bridge deployment, integrating bridge relayers into validators to simplify connectivity. Subsequent, it establishes automated liquidity routes, making a central hub for all chainlets. Moreover, packet forwarding is automated, permitting seamless multi-hop transactions. Lastly, cross-chain execution is dealt with routinely, enabling transactions throughout completely different chains with out handbook intervention. These improvements guarantee a scalable, user-friendly expertise, enhancing composability throughout the Saga ecosystem.

Right this moment we’re introducing Saga’s Liquidity Integration Layer (LIL) – a groundbreaking resolution to sort out liquidity fragmentation within the blockchain house. Here is what you should know: 🧵👇https://t.co/hH22YXcrc6 pic.twitter.com/A62ikbIAQv

— Saga ⛋ (@Sagaxyz__) August 12, 2024

In sync with this progressive venture, Saga’s value soared by 27.19% within the final 24 hours, bringing it to $1.59. This exceptional leap is backed by sturdy liquidity, with a 5.9461 volume-to-market cap ratio, placing Saga in a league above many others. Over the previous 30 days, it loved 17 inexperienced days, or 57% of the time, exhibiting a resilient upward development. Curiously, regardless of such motion, the 30-day volatility sits at a relaxed 15%, signaling that Saga’s climb could be extra regular than speculative. If this momentum continues, Saga may very well be carving out a extra steady path ahead than its extra unstable friends.

2. Convex Finance (CVX)

Convex Finance enhances rewards for liquidity suppliers on Curve with out requiring direct staking on Curve. As a substitute, customers can stake their CRV tokens with Convex to obtain cvxCRV and boosted rewards. This permits Convex to build up a big share of Curve’s CRV tokens and veCRV. This, in flip, boosts its affect within the “Curve wars,” a contest to regulate Curve Finance, the most important DEX by whole worth locked (TVL). In consequence, by aggregating liquidity, Convex will increase person rewards and strengthens its market place.

Safety-wise, it’s audited by MixBytes, confirming its protocol’s integrity. Its treasury is protected by a 3-of-5 multisig pockets with key DeFi stakeholders like Convex, Curve, Votium, and Frax Finance. Thus offering a robust safeguard towards unauthorized transactions and enhancing total safety.

Locking $CRV has been off the charts currently, a lot in order that even getting this animation accomplished in time has been difficult. regardless, right here it’s to your viewing pleasure. 400m $CRV locked in Convex Finance! pic.twitter.com/HMPRfs7CMC

— Convex Finance (@ConvexFinance) August 8, 2024

CVX has skilled an 8.72% improve in value, reaching $2.52. Nevertheless, regardless of this notable rise, its liquidity, with a 0.1606 volume-to-market cap ratio, doesn’t match Saga’s energy. Moreover, the 14-day RSI at 48.22 signifies that CVX is cooling off and will transfer sideways. It seems much less dynamic, with solely 12 inexperienced days out of the final 30 and a comparatively low 12% volatility than a few of its counterparts. Furthermore, it’s buying and selling 30.12% beneath its 200-day SMA, which displays a bearish development. Over the previous yr, CVX has underperformed, with a 19% value drop, suggesting potential additional challenges until it manages to beat its resistance ranges.

3. Shiba Shootout (SHIBASHOOT)

Shiba Shootout is a meme coin venture nearing a significant milestone in its presale, having raised $933,841.26 out of a $1,699,291 objective. Presently, the token is priced at $0.0199, and its worth is anticipated to extend after the presale ends. This anticipated rise is fueled by the success of its Wild West-themed P2E sport, launched in April 2024. On this sport, gamers earn tokens via partaking digital gun battles. The sport’s constructive reception is seen by sturdy opinions and its availability on Google Play and the Apple App Retailer.

The Shiba Shootout venture affords partaking options, such because the ‘Posse Rewards’ referral program and ‘Campfire Tales’ for sharing experiences. Moreover, ‘Governance Roundups’ permit voting on venture selections, and the ‘Fortunate Lasso Lottery’ supplies possibilities for crypto prizes. Furthermore, the ‘Cactus Staking’ function lets customers visually monitor their rising rewards.

🚀 Prepared for the $SHIBASHOOT presale? 🎯

1️⃣ Get a crypto wallet2️⃣ Go to our web site’s presale section3️⃣ Join your wallet4️⃣ Swap your crypto for $SHIBASHOOT tokens

🔗 Detailed information & schedule on our website. Do not miss out on this digital duel! 🌐https://t.co/Fxf9PWP0gz pic.twitter.com/Gm5lJfFP8s

— shibashootout (@shibashootout) August 11, 2024

By way of token allocation, 35% of the $SHIBASHOOT provide is devoted to the presale, with a further 20% reserved for staking and 5% for the “Rootin’ Tootin’ Shooter Fund”. The venture additionally earmarks 20% for advertising and 10% every for venture funds and liquidity. Potential patrons are inspired to behave rapidly because the presale nears its finish, with lower than 24 hours remaining. Buyers can be part of the presale by connecting their wallets and buying tokens utilizing ETH, USDT, or BNB.

Go to Shiba Shootout Presale

4. Echelon Prime (PRIME)

Echelon Prime is the native token of the Echelon Prime Basis, a Web3 platform centered on next-generation gaming. Developed by Eclat World, this platform merges decentralized finance with cutting-edge gaming innovation. At its core, PRIME is built-in into Parallel, a sci-fi buying and selling card sport, illustrating its sensible function within the new gaming financial system. Echelon Prime’s mission is to craft instruments that drive the evolution of gaming fashions and increase digital economies.

The system is secured with a strong multi-layered method. It integrates with Ledger {hardware} wallets, defending PRIME tokens from unauthorized entry. Past this, the platform enforces stringent safety protocols and staking necessities, which deter malicious actors. Moreover, fixed monitoring permits for fast detection and response to potential threats.

Joyful to see Echelon’s Tournaments app getting rave opinions in the course of the @ParallelTCG Parallel League Kickoff Invitational!

Extra to come back. https://t.co/LDRmG95J9S pic.twitter.com/2R5u8fBHMV

— Echelon (@EchelonFND) August 11, 2024

PRIME has surged by 8.23%, now buying and selling at $6.21, showcasing an analogous upward thrust to CVX, but its journey appears stronger. Though it has medium liquidity, with a 0.0140 volume-to-market cap ratio, PRIME’s 14-day RSI of 65.68 indicators that it’s nearing overbought territory, which could result in some sideways motion quickly. Regardless of having solely 12 inexperienced days within the final month, like CVX, PRIME’s 16% volatility suggests a balanced efficiency. Impressively, it’s buying and selling 50.39% above its 200-day SMA and has seen a 144% improve over the previous yr, besting a good portion of the market. If this development holds, PRIME may solidify its place as a formidable contender within the house.

5. Siacoin (SC)

Siacoin powers Sia, an progressive decentralized cloud storage platform. On Sia, customers lease their unused cupboard space in a safe and trustless surroundings. Transactions and agreements are managed by sensible contracts, with Siacoin used because the cost methodology. By providing aggressive charges in comparison with giants like Amazon and Google, Sia goals to disrupt the normal cloud storage market.

To make sure community safety, Sia makes use of a proof-of-work consensus algorithm. Recordsdata are cut up into 30 encrypted segments and distributed worldwide, offering redundancy and defending information. This method safeguards towards information loss, besides in excessive situations like main disasters. Moreover, hosts lock SC as collateral, which helps forestall malicious actions. These safety measures make Sia a dependable and sturdy storage resolution.

We’re excited to announce the discharge of hostd v1.1.2! This replace contains enhancements to pricing configuration and minor bug fixes for the pockets. Updating is optionally available, however really useful to reap the benefits of the usability enhancements.#DePin #Sia pic.twitter.com/KpZAzpLbRi

— Sia Basis (@Sia__Foundation) July 12, 2024

Analyzing the market efficiency, SC skilled a notable enhance of 4.17%, nudging its value as much as $0.004506. Its liquidity, marked by a 0.0422 volume-to-market cap ratio, is best than PRIME’s, hinting at strong backing. The 14-day RSI of 43.26 suggests SC may proceed to commerce sideways, mirroring its steady 8% volatility. With 14 inexperienced days out of the final 30, SC sits between Saga and CVX relating to constructive efficiency. Nevertheless, it’s buying and selling 41.18% beneath its 200-day SMA, indicating it would nonetheless be struggling to regain misplaced floor. But, with a 29% improve during the last yr, SC exhibits it has potential, although it might want a stronger push to outperform different high gainers.