Key Takeaways
Let’s look at some of the top altcoin gainers over the past 24 hours in the crypto world on Oct. 9, 2024.
We will examine privacy coins, cryptos linked to exchanges, meme coins, and Ethereum-based tokens and discuss what might have caused them to rise in value.
Monero’s XMR privacy coin has risen by more than 5% in the last 24 hours and is currently trading at around $153.35.
Despite being delisted from a variety of major exchanges due to concerns about its use in terrorism financing, money laundering, and other illegal activities, XMR is about to enter the final part of a five-wave upward trend that started in November 2022.
However, it remains to be seen whether it can break through its current resistance of around $180 during its current upturn.
Binance’s BNB coin has increased by over 3% in the last 24 hours and is currently trading at around $584.70.
Crypto has been on an upturn since the start of October, a bullish run that coincided with the release from prison of the Binance exchange’s founder, Changpeng “CZ” Zhao.
However, if it wants to continue moving upwards, staying above the 20-day exponential moving average of around $570 is crucial.
Over the last few years, the success, or otherwise, of meme coins has been an indicator of the overall health of the crypto market.
With the sector performing well lately, it seems fair to assume that this shows that crypto, as a whole, is on the up.
In terms of BabyDoge itself, the token’s recent upward movement – up 20.7% to $0.000000002675 – appears linked to the platform completing the migration of its Baby Doge Swap exchange to a new web address.
EigenLayer, a platform that allows users to stake their Ethereum (ETH), held its airdrop on Oct. 1.
The platform released more than 1.67 billion tokens and pretty much immediately saw its EIGEN token make the top 100 cryptos by market cap.
However, on Oct. 4, an unauthorized seller offloaded 1,673,645 EIGEN, worth about $5.5 million.
Nevertheless, there is still enough interest in EIGEN for its price to go up. In the last 24 hours, it has risen 6.14% to trade at $4.
Talking of meme coins, the meme coin with perhaps the most unusual name is HarryPotterObamaSonic10Inu (ERC-20), also known by its ticker handle, BITCOIN.
While there is still some debate as to whether it is all a massive wind up or something more sinister, it has been performing well over the last 24 hours, rising 16.64% to around $0.24.