- TRB surged 27.1% in 24 hours, hitting $139.73, with a bullish pennant formation.
- MPLX rose 11.4%, reaching $0.3098, offering utility programs in the Solana ecosystem.
- ERN jumped 13.32% to $5.06, announcing an enhanced AI-based security layer.
On May 8, 2024, the cryptocurrency market experienced a wave of descending development as prices declined over the board. Leading cryptocurrencies like Bitcoin and Ethereum saw drops of 0.61% and 0.78% separately within the last 24 hours. However, in the midst of this period of instability, three cryptocurrencies overseen to defy the broader trend, illustrating outstanding price increases.
1. Tellor Tributes (TRB)
TRB was recorded to have risen 27.1% in 24 hours and touched a price of $139.73. TRB’s market capitalization stands at around $296,277,658, with trading volume touching $495,825,431, registering a high of 93.71% in the last 24 hours.
Not only the value, recently, Tellor’s Total Value Locked (TVL) was recorded at more than $5 million. The Tellor price chart appears to display a “Bullish Pennant” pattern, which usually indicates continuation. This pattern appears after a prominent upward spike (flag pole), followed by a period of consolidation characterized by the formation of a converging triangle.
Price consolidation within a narrowing range, marked by converging trendlines, generally anticipates a potential breakout to the upside. If the TRB breaks above the pennant with increasing volume, this could indicate a continuation of the previous uptrend.
2. Metaplex (MPLX)
The price of MPLX jumped 11.4% in 24 hours and briefly touched $0.3098. Metaplex currently boasts a market capitalization of approximately $78,005,916, accompanied by a trading volume totaling $1,219,868.Over the past 24 hours, there has been a moderate rise of 7.25%.
Metaplex serves as a decentralized stage that facilitates the creation, trade, and utilization of digital resources inside the Solana blockchain ecosystem. Metaplex provides utility programs such as Packs, Fusion, “Entangled” and Encrypted NFT.
3. Ethernity Chain (ERN)
ERN prices rose 13.32% within 24 hours. ERN briefly touched the price of $5.06. Ethernity’s market capitalization stands at around $109,685,724, with a trading volume of $65,632,256, registering a high of 329.79% within 24 hours.
Today’s ERN price increase occurred after Ethernity via post X announced Ethernity Chain, ETH Layer 2 with enhanced AI-based security, setting a new standard for on-chain entertainment. This decision has caught many by surprise, particularly since the SEC is anticipated to deliver a definitive ruling on Grayscale’s Ether futures ETF by May 30.
Grayscale initiated its 19b-4 application for an Ether futures ETF on September 19, 2023, with aspirations for it to be listed on the New York Stock Exchange (NYSE) pending approval. However, now Grayscale has withdrawn the application without clear reasons.
In the ever-evolving crypto industry, TRB, MPLX, and ERN showcase immense promise. Their recent surges amidst market turbulence signal investor confidence and highlight the growing significance of innovative projects. As they continue to pioneer advancements in blockchain technology, their positive trajectory reflects a bright future within the crypto landscape.
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