The crypto market is undergoing a revolution, and memecoins and DeFi tokens are at the forefront. Notably, a number of altcoins have massively outperformed Bitcoin in the last 24 hours. This new trend reflects the growing diversity and changing interests in the crypto space. Tokens including FLOKI, CRV and FXS have experienced impressive rallies. These spikes are driven by whale accumulation and impending network upgrades like taproot.
Memecoins Rally on Community Support and Exchange Listings
Memecoins, popular for their community-driven value and meme-viral culture, have posted astonishing returns. Interestingly, FLOKI went up a remarkable 31.78% during the past 24 hours. This increase was primarily driven by passionate community demand and increased trading volume. FARTCOIN jumped 20.01% immediately after the announcement of breaking perpetual futures support onto other exchanges. This dramatic rise reflects both market maturing and increasing speculative demand.
BONK, the second-memecoin-in-the-red candidate BONKs below memetokens-fuelled and discovered 16.36% During a storm of institutional interest and successful ecosystems for-profit exploration. BONK is about to hit one million unique holders! The community has been frantically speculating about the planned burn of one trillion tokens. The viral popularity of BONK reaches new heights with the launch of its BonkFun launchpad. This central platform controls roughly 67% of the accessible market share and collects nearly $8 million each week in revenue. MEW similarly participated in the memecoin rally, increasing by 17.92% in the past 24 hours.
DeFi Tokens Benefit from Protocol Upgrades and Whale Activity
DeFi tokens are making a show of impressive strength too, propelled by protocol improvements and tactical positioning by doltish wallets. CRV, the native token for Curve Finance, was up 26.77% over 24 hours — a move coinciding with continued whale accumulation. This indicates that serious institutional investors are optimistic about the future value and promise of the Curve Finance platform.
FXS, the governance token of stablecoin protocol Frax Finance, surged 22.45% after the implementation of Frax’s “North Star” upgrade. This upgrade aims to solidify the utility and efficiency of the Frax protocol, bringing in more users and investors. FXS benefits from a tail-emissions schedule. By tying token demand directly to network usage in this way, the schedule helps encourage an ongoing sustainable economic model.
OriginTrail and TOSHI See Gains Amid Broader Market Trends
It’s not just memecoins and DeFi tokens that are making impressive moves — altcoins across the board are up-trending. OriginTrail’s TRAC has made huge strides – up 16.71% – by riding converging narratives about artificial intelligence and real-world asset tokenization. TRAC’s performance underscores the significant demand for projects linking the promise of emerging technologies with real-world, physical infrastructure. TOSHI, commonly recognized as the unofficial mascot for the Coinbase-operated Layer 2, recently skyrocketed a massive 20.71% in just 24 hours. This remarkable increase is a testament to the accelerating adoption and impact of the Coinbase ecosystem.
The increase of all major altcoin prices adds to the bullish sentiment across the entire cryptocurrency market. The combined crypto market cap has finally crossed back above $3.7 trillion, roughly a 10% jump over the last week alone. This expansion is a strong sign of increased investor confidence and a deepening focus on the wide-ranging prospects in the ever-expanding world of crypto.
