May 30, 2024

Today’s top cryptocurrency gainers rally double-digits

Several cryptocurrencies saw 10% or more increases after Boxing Day, while Bitcoin and Ethereum lagged.

Ethereum layer-2 solutions, Bitcoin forks, a native layer-1 blockchain token, and a Polkadot parachain comprised the seven top gainers on Dec. 27 amid what is likely a wide-ranging rotation strategy from traders who are booking profits and moving into other altcoins after markets saw upticks over several weeks in Q4 2024. 

These top gainers recorded double-digit upturns ranging from 10% to as high as 25%, according to CoinMarketCap.

Bitcoin forks

Bitcoin SV (BSV) and Bitcoin Cash (BCH) ranked second and seventh as the cryptocurrencies increased 24.7% and 11%, respectively, due to amped trading volume. 

It’s possible these forks experienced gains thanks to their ties with the original Bitcoin (BTC) blockchain and token, which has made headlines thanks to chatter around spot BTC ETFs. BSV traded above $62, while BCH was over $256 following the rally.

Ethereum L2s

Three of Ethereum’s largest scaling solutions presented pumps for holders, namely Optimism (OP), Polygon (MATIC), and Arbtrium (ARB). Over $4, OP gained over 23.8%, while MATIC broke above $1 and increased by 18.1%. ARB rallied 12.1% to reach a $1.50 price tag.

Mina L1

MINA, the native token of L1 privacy-focused blockchain Mina, rose to $1.40 after gaining 18.3% with a trading volume of almost $500 million. Mina leverages zero knowledge, or zk technology, to allow developers to build dapps and privacy-preserving smart contract platforms.

Polkadot parachain Astar

The number one top gainer at press time was Astar (ASTR), with a 25% increase in 24 hours despite its $145 million trading volume. Astar operates as a parachain on the Polkadot ecosystem, enabling users to create smart contracts across multiple decentralized networks and virtual machines like the popular Ethereum Virtual Machine or EVM. 

Top crypto gainers on Dec. 27
Top crypto gainers on Dec. 27 | Source: CoinMarketCap

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