Top 5 Cryptocurrencies Still Making A Killing Despite The Market Slowdown

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The crypto market has been seeing a slowdown since bitcoin’s rejection at $24,000 and its subsequent decline below $23,000. However, there are some cryptocurrencies that have still found a way to register upward momentum even at a time when the broader digital asset market seems to be turning bullish.

Top 5 Performing Cryptocurrencies In The Last Day

Over the last two weeks, the artificial intelligence narrative has seeped into the crypto market, causing a significant run-up in the prices of these tokens that implement AI. But while these tokens have done well in the last week, they, too, have also seen a slowdown along with the rest of the market.

Instead, this report will focus on coins in the top 100 by market capitalization that has seen gains in the last day among the sea of red. 

Rocket Pool (RPL)

Rocket Pool (RPL) is already up over 14% in the last 24 hours alone. The cryptocurrency is the native token of one of the top liquid staking protocols currently, and it has benefitted from the increased attention being given to LSD tokens.

As the Ethereum “Shanghai” upgrade has drawn closer, LSD tokens are already seeing more momentum. This has helped to keep the coins afloat even at a time when others are suffering. It is currently one of the few tokens in the top 100 recording gains on the 24-hour, 7-day, and 30-day timeframes.

Rocket Pool (RPL) Top 5 cryptocurrencies

RPL jumps 13% in 24 hours | Source: Coinmarketcap

Frax Share (FXS)

Next on the list is FXS, which is the native token of the Frax Share ecosystem. Frax Share claims to be the first protocol to allow the partial backing of a cryptocurrency through collateral and algorithmic stability. The protocol has enjoyed support from the crypto community since its launch and even more so in the last 24 hours.

As of the time of writing, the price of FXS is sitting at $13.66, up over 9.8% in the last day. Its market cap has now crossed $1 billion with a trading volume of $225 million in the same time period.

Lido DAO (LDO)

Lido DAO (LDO) is another token that has benefitted greatly from the popularity of liquid staking. The protocol is arguably the most successful out of all of the LSD protocols given that it accounts for around 30% of all of the staked ETH.

The cryptocurrency is seeing an impressive upside on a 24-hour basis after rising over 9.7% to cross the $2.80 level. Furthermore, the coin is also up over 21% in the last 24 hours, making it one of the best performers of the top 100 in the one-week period.

Chainlink (LINK)

The LINK token is one of the cryptocurrencies that has done incredibly well in the market. Despite being one of the altcoins that closely follows the price of bitcoin due to it being a top 25 cryptocurrency, LINK has been able to confirm gains in the last 24 hours.

Data from Coinmarketcap shows that LINK price is up more than 7.4% in this 24-hour period. Furthermore, the protocol is also seeing an upside of 2.74% on the one-you chart. LINK has now cleared the $7.70 level with more upside expected to come.

Polygon (MATIC)

Now, compared to the rest of the cryptocurrencies on this list, Polygon (MATIC) has not done as well, but the fact that the digital asset has remained in the green has landed it on the list. Even with 2.93% gains in the last 24 hours, MATIC is still one of the best-performing coins in the top 100 in the last 24 hours.

The blockchain has already been adopted by major players such as Reddit which has helped to drive its value up. It is also seeing an upside of 7.68% in the last week. 

MATIC’s total market cap is now trending at $11.5 billion which makes it the 10th largest cryptocurrency in the space. However, it is only $200 million below Dogecoin, which sits in ninth position. So if MATIC’s upward momentum were to continue and DOGE refuses to move, then MATIC could be flipping Dogecoin for the ninth position.

BONUS – PancakeSwap (CAKE)

PancakeSwap (CAKE) has also done well in the market in the past 24 hours. The native token of the decentralized exchange is seeing an upside of 2.28% in this time period, as well as a 9.44% on the seven-day chart.

Market cap chart of all cryptocurrencies from TradingView.com

Total market cap sitting above 1$ trillion | Source: Crypto Total Market Cap on TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from Coingape, chart from TradingView.com

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