Crypto Bouncing Back From the Long Lull: Top Gainers Today

Key Takeaways

• The crypto market is finally bouncing back after a long period of slump created by a combination of heightened macro pressure and the market crash that followed.
• The current crypto market rebound is largely attributed to the developments regarding the end of the U.S government shutdown. 
• Starknet ( STRK), World Liberty Financial (WLFI), Artificial Superintelligence Alliance ( FET), Pump.fun ( PUMP), and Uniswap (UNI) emerged as top gainers.
• The XRP emerged as the biggest gainer among the top 20 cryptocurrencies in terms of market cap.

The crypto market is finally bouncing back after a long period of slump created by a combination of heightened macro pressure and deleveraging events that followed. The crypto market is up by over 3% in the past 24 hours, with the market cap touching $3.57 trillion. The Fear and Greed Index has moved from previous extreme fear to a fear state, and the 14-day Relative Strength Index (RSI) over 50 is confirming the rebound. 

From the Historic Crypto Crash to Rebound 

The most decisive moment for the crypto market was the October 10 crash caused by the reignition of geopolitical tensions between the U.S and China. The crash resulted in 19 billion leveraged positions being wiped out from the crypto market.  The crypto market continued to reel under pressure with the Fed’s hawkish policy shift, whale profit-taking, and Balancer attack. 

The current crypto market rebound is largely attributed to the developments regarding the end of the U.S government shutdown. Besides the government reopening, President Trump’s promise of the $2000 tariff dividend per person has sent bullish signals to the market as well. The world’s largest cryptocurrency, Bitcoin, has reclaimed $106k level, and Ethereum marked over a 6% gain in the past 24 hours. The XRP is also faring great, with the price hitting $2.52.  Here are some of the top gainers today. 

Starknet ( STRK)

Starknet (STRK) emerged as the top gainer in the market with over 49% gain in the past 24 hours. The token is currently trading at around $0.2110. The market cap reached $962.01 million. The price surge is forecasted to continue amid the broader recovery in the crypto landscape. 

World Liberty Financial (WLFI)

World Liberty Financial ( WLFI) is reportedly backed by the Trump family, is having a bullish run with price surging by 29% to hit $0.1559. The market cap touched $3.83 billion. The 24-hour trading volume has surged past 600%. The current surge is supported by both strong technical indicators and the prevailing macro climate. Moreover, the token was able to defend a critical level at $0.15.

Artificial Superintelligence Alliance ( FET)

Artificial Superintelligence Alliance ( FET) is a surprising entrant in the list of top gainers, as the platform is currently embroiled in a lawsuit filed by some investors. Despite the internal strife, the token has been surging in the past few days, and today is no exception. The token focusing on AI has gained over 23% in the past 24 hours, with the market cap reaching $845.72 million.

Pump.fun ( PUMP)

The Pump.fun ( PUMP) has emerged as a top gainer with over a 19% price gain. The token with a market cap of $1.57 billion is having a bullish run largely due to the favourable macro climate and an upcoming airdrop.

Uniswap (UNI)

The Unisawp (UNI) has reached $6.98, registering a gain of over 16% in the past 24 hours. The market cap touched $4.4 billion. The price surge is backed by enhanced whale activity and a technical breakout at $6.56. The MACD histogram turning bullish and the 14-day RSI approaching 60 show underlying strength and momentum. 

XRP Emerges As the Biggest Gainer Among the Top 20 

The price of the XRP has shot up to 2.54 with a gain of over 12%. The token with over $152.78 billion emerged as the biggest gainer among the top 20 cryptocurrencies in terms of market cap. The current surge is attributed to the listing of five spot XRP ETFs (exchange-traded funds) by Depository Trust and Clearing Corporation (DTCC), and the expectations about the U.S government reopening. 

The Bottom Line: Are We Heading for a Crypto Rally?

The current price surge is due to a combination of both easing macro pressure and ecosystem-specific developments regarding cryptocurrencies. The current green signals show that the crypto natives are optimistic about the upcoming weeks, and it seems like we are finally behind the prolonged delevraging event. Amid the optimism, the investors also need to be cautious, as the bullish run of the tokens with low to medium market caps can be highly speculative as well.