The cryptocurrency market has posted modest gains over the past day after trading significantly below average earlier in the week. Despite investors’ cautious optimism about coin prices, there still seem to be upside opportunities.
In this article, we examine the top cryptocurrencies that are trending today:
1. TerraUSD Classic (USTC)
The first option among the top trending coins is USTC. USTC, formerly the Terra ecosystem stablecoin, has broken away from the dollar but is looking to regain its value.
USTC is currently trading at $0.032, up 0.92% in price in the last 24 hours. The asset is poised for a major 1.2% tax burn which is scheduled to go live on September 21st. Along with Terra Classic (LUNC), USTC is expected to see some upside once the tax burn goes into effect.
2. ApeCoin (APE)
APE, the native token for ApeCoin’s non-fungible token (NFT) and metaverse ecosystem, is one of the most valuable assets on the market – despite it only launching in March 2022 the past day.
APE investors will be expecting a major coin release to take place this week. The ApeCoin ADO is expected Unlock 25 million APE tokensassigned to Launch Contributors. These unnamed companies and contributors could flood the market with their tokens, although investors are optimistic that APE would withstand the selling pressure.
3. Helium (HNT)
HNT is the native token for Helium Network – a blockchain that enables anyone to own and operate a wireless network of Internet of Things (IoT) devices. The asset is currently trading at $4.47, down 4.3% in price over the past 24 hours.
It appears that HNT is among the top trending coins due to a bug on Binance that led to abusive handling of HNT tokens. According to reports, Binance misallocated about 4.8 million HNT tokens and sent them to random users who quickly sold the coins for a profit.
4. Chiliz (CHZ)
The Chiliz platform is one of the most popular Web3 services available. Chiliz operates Socios, which allows sports and entertainment franchises to launch fan tokens, allowing them to better engage with their fans.
CHZ, the platform’s native token, which is trading at $0.23, is up 0.28% over the past 24 hours. Investors are particularly excited about Chiliz’s intention to migrate from the Ethereum blockchain to its native CHZ 2.0 chain.
The move is expected to make Chiliz a self-sustaining platform, allowing it to compete with some of the biggest platforms in the NFT and Web3 space.
5. Luna Classic (LUNC)
LUNC is the former primary asset for the Terra ecosystem. After stablecoin USTC was depegged, LUNC lost over 99% of its value in a downturn that affected the entire market. However, LUNC remains a hot ticket for many who still believe in the environment.
The price of LUNC traded at $0.00028 and fell 4.73% in the last 24 hours. However, like USTC, investors are expecting the 1.2 percent tax burn to start later this week. Already backed by exchanges like Binance, KuCoin, and MEXC, the tax burn could be a major catalyst for a price surge.
6. Algorand (ALGO)
ALGO operates Algorand – a Proof-of-Stake (PoS) blockchain that bills itself as the home of FutureFi. The asset is currently trading at $0.34, up 8.3% over the past 24 hours.
Algorand appears on the list of top trending coins because of the recent signing of the blockchain protocol partnership contract with FIFA – the global governing body of football. As part of the agreement, FIFA will launch FIFA+ Collect, an NFT platform, on the blockchain. With FIFA+ Collect, football fans can purchase football highlights, pictures and art. With the World Cup less than two months away, this could be a bullish time for the asset.
7. Convex Finances (CVX)
Convex Finance is a decentralized finance (DeFi) protocol that allows users to earn rewards, interest payments, and trading fees. While not one of the biggest DeFi protocols, users are attracted to Convex for the opportunity to generate additional income.
CVX is trading at $4.70, a price jump of 1.48% in the last 24 hours.
8. Earth (LUNA)
LUNA is the new asset for the Terra ecosystem. After the initial ecosystem collapsed, investors switched to LUNA, a fork of the legacy blockchain. LUNA is currently trading at $2.70, down 4.87% in price over the past day.
The digital asset is trending as South Korean investigators continue their search for Do Kwon, the founder of Terra. kwon has maintained that he is not on the run, although his whereabouts are unknown.
9. Quantity (QNT)
QNT is the native token for Quant – a blockchain interoperability network that ensures seamless collaboration and resource movement between multiple blockchains. It is popularly known as the first operating system developed for blockchains to connect different blockchains and networks.
Priced at $103.93, QNT is up 1.74% over the past 24 hours.
10. Lido Finance (LDO)
LDO operates Lido Finance – a liquid staking protocol that allows users to stake cryptocurrencies and earn returns. The asset is controlled by the Lido DAO – a decentralized autonomous organization that operates Lido.
LDO, which is currently trading at $1.77, is up 3.21% in the last 24 hours. LDO appears to be on a bull run as more investors turn to Lido Finance to stake their coins. Days before Ethereum merger, Lido allegedly held 30% of all ETH staked. This is expected to increase, further boosting LDO’s prospects.
11. Battle for Infinity (IBAT)
The list of top trending coins is rounded off by IBAT. The native token for the Battle Infinity fantasy sports ecosystem is shaping up to be one of the most exciting new coins out there. Battle Infinity’s seamless blend of metaverse, NFTs and fantasy sports has generated massive investor interest in the platform.
IBAT is currently trading at $0.0029. The asset is up 5.54% over the past 24 hours, although investors are even more excited for the asset to start staking later this week. The staking should bring more functionality to the coin, which recently completed its pre-sale and is seeing growing investor demand.