{"id":3127,"date":"2024-03-02T02:27:23","date_gmt":"2024-03-02T02:27:23","guid":{"rendered":"https:\/\/solanacrypto.news\/2024\/03\/02\/top-crypto-gainers-on-1-march-axl-and-fet\/"},"modified":"2024-03-02T02:27:23","modified_gmt":"2024-03-02T02:27:23","slug":"top-crypto-gainers-on-1-march-axl-and-fet","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2024\/03\/02\/top-crypto-gainers-on-1-march-axl-and-fet\/","title":{"rendered":"Top Crypto Gainers on 1 March – AXL and FET"},"content":{"rendered":"
\n

The new month, March, has come with a different trend for the broad crypto market. Instead of continuing the uptrend, the market is declining today<\/strong>. <\/span>Data<\/span><\/a> from reputable crypto analytics platform CoinMarketcap shows that the overall market cap is down by 1.69% to $2.3 trillion.<\/span><\/p>\n

In addition, the 24H trading volume is also down by 35.61% to $128.5 billion. Furthermore, Bitcoin (BTC), the market leader, is down by 1.55% in the last 24 hours despite sitting above the $61,900 market. <\/span>Is this the beginning of the market consolidation phase? Historically, price consolidation could trigger more dips in the value of various digital assets.\u00a0<\/span><\/p>\n

However, despite this sentiment,<\/strong> some altcoins make contradictory moves in the same crypto market. <\/span>Out of the voluminous list, AXL, FET, SMOG, and SPONGEv2 have recorded notable gains in their value within 24 hours.\u00a0<\/span><\/p>\n

Whether these coins can thrive amid the declining crypto market depends on <\/span>milestones they could hit<\/span><\/a> in the long run. <\/span><\/p>\n

Massive adoption, investors, and increased trading volumes could also help them<\/strong>. <\/span>Nevertheless, the technical analysis of these assets could help hint at what to expect in the coming weeks.\u00a0<\/span><\/p>\n

Axelar (AXL) \u2013 Secure Cross-Chain Communication Network for Web3<\/h2>\n

\"Top\n<\/picture>\n

Axelar (AXL) has seen a significant boost in its value today, and there are a few reasons for that. Its goal of making Web3 a success by connecting different blockchain networks seamlessly is paying off.\u00a0<\/span><\/p>\n

This innovative approach makes interactions between blockchains quicker and easier, making Axelar an essential part of Web3.<\/span><\/p>\n

The token, AXL, is crucial for Axelar\u2019s network<\/strong>. It\u2019s used to power the network\u2019s operations and keep it secure. <\/span>Validators stake AXL to participate in the Proof-of-Stake (PoS) consensus mechanism, earning rewards for validating cross-chain transactions.\u00a0<\/span><\/p>\n

Axelar uses inflationary rewards and a gas-burning mechanism to make the token useful and valuable. This has helped AXL gain popularity and get adopted in the digital world. <\/span><\/p>\n

Recently, AXL was listed on Binance, the world\u2019s biggest cryptocurrency exchange. <\/span><\/p>\n

After the listing was announced, AXL\u2019s price shot up by 81% to $2.73 per token from its earlier level of $1.49. <\/span>This sudden price increase led<\/strong> to a lot of trading activity, with one trader making a profit of $56,028 just eight minutes after the announcement.<\/span><\/p>\n

Axelar\u2019s rise coincides with its efforts to provide secure cross-chain communication for Web3. It recently partnered with Ripple to improve interoperability within the XRP Ledger.\u00a0<\/span><\/p>\n

This partnership shows Axelar\u2019s dedication to advancing blockchain interoperability and making decentralized finance applications more useful.<\/span><\/p>\n

With strategic partnerships and listings on major exchanges like Binance, the asset is well-positioned for further growth and adoption within the blockchain<\/strong> ecosystem as the cryptocurrency market evolves. <\/span><\/p>\n

Meanwhile, an Interchain competition is ongoing to reward users on the Axelar Network.<\/span><\/p>\n

\n \n<\/svg><\/p>\n

GM + welcome to March, 2024 \u2764\ufe0f\u200d\ud83d\udd25<\/p>\n

Reminder: the \ud83c\udf29\ufe0fITS LEGEND OF INTERCHAIN COMPETITION\ud83c\udf29\ufe0f closes next Wednesday, March 6. <\/p>\n

Good luck, anon \ud83c\udf40 https:\/\/t.co\/SGhpS3Yb6R<\/a><\/p>\n

\u2014 Axelar Network (@axelarnetwork) March 1, 2024<\/a><\/p>\n<\/blockquote>\n

AXL Continues Upward after Price Rejection at the $2.7 Mark \u2013 Can This New Resistance Hold?<\/h3>\n

\"Top\n<\/picture>\n

The surge following AXL\u2019s listing announcement on Binance drove the coin\u2019s price to $2.7, a new swing high in the long run. However, as of 7:56 am EST, the price is now at $2.1383.<\/span><\/p>\n

Can it surpass the $2.7? <\/span>According to technical indicators,<\/strong> more rallies are expected throughout the weekend, and by the new week, AXL could retest its recent high and potentially break above it.<\/span><\/p>\n

The coin\u2019s price has already surpassed the dynamic resistance posed by the Upper Bollinger band. <\/span>Also, its Relative Strength Index (RSI) is 84.01 in the overbought market region (above 70), indicating non-stop buying activities. <\/span><\/p>\n

Considering these facts, AXL could go above $2.7 and target the $3 level.\u00a0<\/span><\/p>\n

On the other hand, the Bollinger bands are expanding<\/strong>, suggesting increasing volatility for the coin. As such, traders and investors should be alert and use adequate risk management strategies.<\/span><\/p>\n

Fetch.ai (FET) \u2013 AI Lab for Public, Decentralized, and Permissionless Machine Learning Network<\/h2>\n

\"Top\n<\/picture>\n

Despite the broad market dip, Fetch.ai\u2019s (FET) performance today is splendid. <\/span>Its price soared to $1.67,<\/strong> the highest it\u2019s ever been. This jump shows a significant increase of 14.82% on March 1.\u00a0<\/span><\/p>\n

People are likely getting more confident in Fetch.ai, especially as AI and digital currency <\/span>markets<\/span><\/a> are doing well.\u00a0<\/span><\/p>\n

Currently, FET\u2019s price is still going up,<\/strong> reaching $1.58, 21% higher than the day\u2019s lowest point. <\/span>One of the factors driving Fetch.ai\u2019s growth is the rising adoption of Artificial Intelligence (AI).<\/span><\/p>\n

\n \n<\/svg><\/p>\n

How close are we to achieving Artificial General Intelligence (#AGI<\/a>)? \ud83e\udde0\ud83e\udd16<\/p>\n

Discover the race to create #AI<\/a> that thinks like us, the challenges ahead, and who’s leading the charge. <\/p>\n

A future where machines think and learn is nearer than you think \ud83d\udc47https:\/\/t.co\/MPVGrqpD1M<\/a><\/p>\n

\u2014 Fetch.ai (@Fetch_ai) March 1, 2024<\/a><\/p>\n<\/blockquote>\n

As AI advances, the demand increases<\/strong>, leading to a surge in the price of FET tokens. Notably, Fetch.ai\u2019s market value and worth in 24 hours increased by 21.78%.\u00a0<\/span><\/p>\n

Can it maintain this uptrend? Let\u2019s find out!<\/span><\/p>\n

FET Breaks Above Rising Channel with Overbought RSI \u2013 Where Could the Price Be Heading to?<\/h3>\n

\"Top\n<\/picture>\n

The Fetch.ai price keeps increasing as more buyers jump in, increasing the price. Looking at the chart, it\u2019s clear that the tokens have been rising<\/strong> since mid-February after consolidation.\u00a0<\/span><\/p>\n

Currently, FET is trading above the 50-day and 200-day Simple Moving Averages (SMAs), which means the bullish momentum is getting stronger. <\/span><\/p>\n

Also, this suggests that the price will likely keep going up toward the $2 level and beyond. <\/span>Additionally, given the RSI at 81 in the \u201coverbought\u201d market region, much buying is happening.<\/strong>\u00a0<\/span><\/p>\n

As such, it\u2019s safe to say that investors are feeling optimistic about the coin\u2019s price. So, more rallies are expected.<\/span><\/p>\n

FET\u2019s Change of Character and Bullish MACD Confirms Potential Price Rallies<\/h3>\n

\"Top\n<\/picture>\n

In the chart above, the Moving Average Convergence Divergence (MACD) shows a bullish trend above the signal line. <\/span>This is a BUY signal for several investors.<\/strong> <\/span><\/p>\n

As such, FET could record more BUY orders to boost its value further. <\/span>Also, the green bars on the histogram show that the momentum is positive, as they\u2019re above the zero line.\u00a0<\/span><\/p>\n

Again, a Change of Character has been on the chart, suggesting a new series of higher highs and higher lows in the coming days. <\/span>Combining these indicators and signals, there\u2019s a strong bullish trend for Fetch.ai (FET).<\/p>\n

However, given the effect of overbought assets<\/strong>, FET could dip to correct its price action.<\/p>\n

As such, traders should adopt proper risk management practices to stay safer in this potentially volatile market.<\/p>\n

Smog Token (SMOG) \u2013 The Fiery Airdrop Ecosystem On Solana with Exciting Rewards\u00a0<\/h2>\n

\"Top\n<\/picture>\n

>>>Visit\u00a0<\/b>Smog Token<\/strong>\u00a0Presale<\/b><\/a><\/p>\n

Smog Token<\/span><\/a> is an exciting memecoin project that launched on the Solana blockchain. However, due to popular demand, it still operates on the Ethereum blockchain.\u00a0<\/span><\/p>\n

Smog Token is a reward-based ecosystem that relies on the strength of its community to achieve its goals<\/strong>. <\/span>The goal is to launch the biggest airdrop event on Solana and reward SMOG token holders. <\/span><\/p>\n

Also, Smog Token continues to progress daily, with over 800 quests completed by users to qualify for airdrops. <\/span>In addition, there are around 30.74 thousand SMOG holders, and it has raced to a market cap value of $52.87 million and is fast approaching $100 million a few weeks after launching.\u00a0<\/span><\/p>\n

Like the BONK token, meme coins<\/a> on Solana benefit from SOL\u2019s rally and the current positive market trend from Bitcoin. <\/span>Currently, investors who purchase these tokens will enjoy a 10% discount on their purchases. <\/span><\/p>\n

Also, staking is an important part<\/strong> of the ecosystem, and staking rewards are distributed based on the APY of 42%.\u00a0<\/span><\/p>\n

According to one X user, <\/span>MetaOracle<\/span><\/a>, SMOG is the number one meme and is the main bag to hold for the bull run.\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n

\n \n<\/svg><\/p>\n

$SMOG<\/a> is my #1 meme and real-time its my main bag frens\u2026@SMOGToken<\/a> rules<\/p>\n

\u2014 MetaOracle NFT Consulting\/Influencer (@oracle_meta) March 1, 2024<\/a><\/p>\n<\/blockquote>\n

Is SMOG A Good Buy?<\/h3>\n

The decision to purchase the token or not rests with the investors, and we advise conducting proper research before making any investment. <\/span>However, some strong points indicate that SMOG could likely be a standout performer in 2024. <\/span><\/p>\n

Its tokenomics reveal that its supply is\u00a0capped at 1.4 billion<\/strong> tokens, and the massive interest in the token will likely lead to a surge in demand.\u00a0<\/span><\/p>\n

Also, 35% of this supply is allocated to airdrop rewards, which will attract more investors and boost long-term holding. <\/span>Another exciting factor about this project is the timing of its launch, which occurred right amid a bull market. Historically, altcoins rally when Bitcoin price spikes.\u00a0\u00a0<\/span><\/p>\n

Also, a viral following on social media channels<\/strong> and <\/span>positive reviews<\/span> from community members make SMOG a potential success in the crypto market.\u00a0<\/span><\/p>\n

\"Top\n<\/picture>\n

Data from <\/span>CoinGecko<\/span><\/a> reveals that SMOG has gained 16.2% on its price today, confirming an ongoing accumulation for the token. <\/span>SMOG currently has an ATH<\/strong> value of $0.094 but will likely set a new record based on rising investor demand in the coming weeks.\u00a0<\/span><\/p>\n

\n \n<\/svg><\/p>\n

When you find out he holds $SPONGE<\/a> <\/p>\n

\ud83d\udca6\ud83d\udca6\ud83e\uddfd\ud83e\uddfd#SPONGEV2<\/a> #Web3<\/a> #Crypto<\/a> #Alts<\/a> pic.twitter.com\/riZLPfD866<\/a><\/p>\n

\u2014 $SPONGE (@spongeoneth) March 1, 2024<\/a><\/p>\n<\/blockquote>\n

Sponge V2<\/span> project combines the fun side of meme coins with additional utility from its weekly Play-to-Earn (P2E) game set to launch<\/strong> soon. <\/span>Also, over $12.18 million worth of $SPONGEV2<\/a> tokens have been staked and bridged, which confirms the rising adoption rate.\u00a0<\/span><\/p>\n

\"\"\n<\/picture>\n

>>>Visit\u00a0<\/b>Sponge V2<\/strong>\u00a0Presale<\/b><\/a><\/p>\n

According to <\/span>CoinRepublic.com<\/span>, Sponge V1 attained a $100 million market cap value, and the V2 will likely outperform this record. <\/span>Based on the current market<\/strong> trend, SPONGEV2 will likely rally in the coming weeks and give massive gains to early investors. <\/span><\/p>\n

However, proper research remains vital due to price volatility.\u00a0\u00a0\u00a0<\/span><\/p>\n

Conclusion\u00a0<\/h2>\n

The crypto market seems set for another altcoins season as Bitcoin continues to record higher highs. <\/span>However, the dip today is noteworthy as it confirms the crypto market\u2019s uncertainty.\u00a0<\/span><\/p>\n

So, given that price volatility is still constant<\/strong> as Bitcoin aims to break above the $65,000 resistance level, traders and investors should closely watch technical indicators to protect their funds.\u00a0\u00a0<\/span><\/p>\n<\/p><\/div>\n