Liquidity shift drives over 20% gains for various crypto tokens
A wide range of cryptocurrencies continued to experience price surges on February 22, even as Bitcoin and Ethereum remained stable. According to CoinMarketCap, at least five crypto tokens saw gains of over 20% in just 24 hours, while the total market capitalization of digital assets remained below $2.1 trillion. CoinGecko also reported a 2% increase in the overall valuation of cryptocurrencies, despite the slight losses experienced by the two leading tokens. This suggests that investors are shifting their capital across different altcoins in order to capture gains.
One of the top gainers on February 22 was SingularityNET (AGIX), the blockchain AI marketplace token. It saw a 39% increase in its market price. AGIX, along with other AI coins, experienced a surge in value due to the bullish momentum in the AI sector. In fact, AI coins have seen a 40% increase in value in just one week, with a market cap surpassing $17 billion.
Following closely behind AGIX was WLD, the native token of Worldcoin, a project focused on eye-scanning ID technology led by Sam Altman. WLD rose by 36% to over $8, marking consecutive all-time highs since Altman’s OpenAI released Sora, a text-to-video program. Reports suggesting major announcements from Worldcoin may have contributed to the spike in WLD’s price.
Another AI token that experienced double-digit gains was Fetch.ai (FET), which surged by 23% in a single day, reaching a new all-time high. The protocol aims to democratize access to machine learning networks and global datasets through a crypto economy.
The Graph (GRT), a crypto indexing protocol built on Ethereum, also saw a 23% increase in its price. The Graph allows users to query data and publish open APIs called subgraphs, and more than 3,000 subgraphs have been launched so far.
Finally, RenderToken (RNDR), the native cryptocurrency for Render, a distributed GPU network, saw a 22% leap in its price. RNDR is now only 12% away from reaching its all-time high for 2021. Render’s platform provides a leasing venue for GPU computing, allowing mining operations to rent their extra GPU resources to studios and creators via Render.
Overall, these top gainers on February 22 demonstrate the continued bullish sentiment in the cryptocurrency market, with investors diversifying their portfolios to capture gains in different altcoins.
