Top 5 Altcoins Soaring in the Cryptocurrency Market

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Market Overview

The cryptocurrency market has kicked off the week with impressive momentum. Bitcoin (BTC) is nearing the $95,000 threshold, instilling confidence among investors, while the total market capitalization has surged to $2.98 trillion. Meanwhile, investors are keenly awaiting crucial U.S. economic data expected this week, including the Consumer Confidence Index, JOLTS labor data, ADP private sector employment report, and Friday’s non-farm employment figures. These reports could potentially heighten volatility in the crypto market.

Despite the limited selling pressure, Tier-1 projects, RWA-focused tokens, and Web3 infrastructure projects in the altcoin sector have managed to stand out positively.

Top 5 Altcoin Gainers

Pudy Penguins (PENGU)

PENGU, the cryptocurrency powering the Pudgy Penguins ecosystem, which emphasizes NFTs and digital collectibles, emerged as the top gainer of the day. This surge is attributed to a significant airdrop event and the launch of physical products. PENGU has risen by 41.43% over the past 24 hours, trading at $0.013 at the time of writing.

Monero (XMR)

XMR, the cryptocurrency of the privacy-centric Monero blockchain, has delighted its investors with a substantial rally. As of this report, XMR was trading at $301, marking a 39.67% increase in the last 24 hours.

Walrus (WAL)

Walrus Protocol’s native cryptocurrency, WAL, known for its decentralized data storage solutions, has been experiencing a robust uptrend. This follows the announcement of its mainnet launch and listings on South Korean exchanges. The commencement of trading on platforms like Upbit and Binance Futures, coupled with $140 million in funding from major investors such as Standard Crypto and a16z, and community-driven airdrop campaigns, have heightened demand for WAL. As of this writing, WAL was trading at $0.655, reflecting a 17.9% increase in the last 24 hours.

Fartcoin (FARTCOIN)

Fartcoin, developed as a meme coin on the Solana blockchain, has recently gained significant traction due to renewed investor interest in the meme coin market. Currently, FARTCOIN is trading at $1.17, up 17.71% over the last 24 hours.

DeepBook Protocol (DEEP)

The native token of DeepBook Protocol, DEEP, which is recognized for its central limit order book (CLOB) infrastructure within the DeFi ecosystem, has been on a strong upward trajectory. This rise is fueled by increased interest in liquidity solutions on the Sui blockchain and its listings on exchanges like Binance and Upbit. DEEP is trading at $0.215, marking a 15.5% increase over the last 24 hours.