Kaspa (KAS), Injective (INJ), and Render (RNDR) are bucking against the general crypto market trend after sustaining gains over the last day.This follows a bearish movement that occurred after Bitcoin reclaimed the $29,000 level.A flash crash sent the pioneer cryptocurrency back to $27,500 and the crypto market tumbled along with it.However, not all altcoins in the space followed this as three assets have continued to see gains.
Kaspa (KAS) Rises Over 10% In the hours that followed Bitcoin’s decline, Kaspa (KAS) was one of the cryptocurrencies that were able to shake off the bears with ease.In the last day, the altcoin is up over 10% and was able to reclaim the $0.03 level before experiencing some resistance and correcting back down.One reason behind the impressive movement has been the announcement that the cryptocurrency would be getting listed on its very first exchange in the United States.
The Uphold digital asset trading platform is listing the altcoin for trading on Thursday, April 27, and the news of this listing saw the trading volume of the cryptocurrency rise over 82%, leading to its surge in price.
KAS has also seen multiple exchange listings this month with LBank and Bitget also listing the digital asset for trading in the last week.KAS rises over 10% in 24 hours | Source: KASUSD on TradingView.com Injective (INJ) Gains Reach 9% Injective (INJ) protocol has been behind Kaspa (KAS) when it comes to gains.Over the last 24 hours, the cryptocurrency has rallied around 9%, making it one of the best performers for this time period.This gain has brought the digital asset’s price to about $8.85, clearing the dreaded resistance at $8.8.INJ’s gains for the last month have also risen to 139% on the 30-day chart.Its trading volume has seen a 51% increase as well and is now sitting at $332 million.Render (RNDR) Maintains Considerable Gains Render (RNDR) has seen the lowest gains of the bunch but that does not mean that the altcoin has done poorly by any measure.With over 6% gains in a 24-hour period, RNDR has emerged as one of the only cryptocurrencies to be seeing green during these uncertain times.
Just like the others, the altcoin is also doing well on the 7-day and 30-day charts.It is up 10.43% in the last week and 99.99% on the monthly chart.Its trading volume is also up as well with an 81.34% increase in one day.What’s Driving These Gains? Besides Kaspa’s listing on the Uphold exchange, there seems to be no apparent reason why the other coins are pumping.
It mostly comes to some leftover momentum from the initial market pump on Wednesday that pushed Bitcoin above $29,800.For now, these altcoins have been able to hold their gains and remain in the green.If the market were to pick up once again, then there is a high possibility that these cryptocurrencies will continue to see upside.Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com Best Owie Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC.
Best is a highly skilled professional with a track record of producing engaging and informative content.With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years.When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors.Best is a true professional in every sense of the word with an exceptional dedication to producing high-quality work.Leave a Reply [Cancel reply](/crypto-2/kaspa-kas-render-rndr-injective-inj-see-upside-amid-market-crash-whats-going-on/#respond) Leave a Reply – The Solana Foundation announced a $1 million fund for AI and launched a ChatGPT plugin.- SOL’s development activity increased while its open interest registered a decline.Solana [SOL] witnessed a decline in the number of active accounts in terms of fee payers over the past 90 days.
A decline in the number of fee payers directly affects a network’s revenue.However, Solana made a few efforts recently to improve the blockchain, which can help change the current scenario.Read Solana’s [SOL] Price Prediction 2023-24 Solana enters the AI space In a 26 April tweet, the Solana Foundation announced a $1 million fund for small-scale grants exploring the intersection of the Solana blockchain and AI.Both new and ongoing projects are eligible for the funds, which range from $5,000 to $25,000.
1/ Today, the Solana Foundation announces a $1m fund for small-scale grants exploring the intersection of the @Solana blockchain and AI.The grants range from $5k to $25k, and both new and existing projects are eligible.Learn more 👇 — Solana Foundation (@SolanaFndn) April 25, 2023 The program will drive new innovations related to AI technology and, in turn, help increase the capabilities and offerings of the Solana blockchain.To be eligible for a grant, the tool or app must be publicly available for others to use, open-sourced, and have source code available to the Foundation.Solana launches ChatGPT plugin As a part of the AI initiative, Solana Labs created an open-source reference implementation for a ChatGPT plugin.The newly developed plugin will provide a unique capability to the Solana blockchain, as users will now be able to search the blockchain using the AI chatbot.
As per the official tweet, users will also be able to perform various tasks through the ChatGPT user interface, including checking wallet balances, transferring tokens and purchasing NFTs.(1/2) Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the @solana network directly from ChatGPT.
Users will be able to check wallet balances, transfer tokens, and purchase NFTs once ChatGPT plugins are available.pic.twitter.com/08z1IX76zJ — Solana Labs (@solanalabs) April 25, 2023 Considering the hype around ChatGPT and AI in the blockchain industry, the possibility of a spike in interest in SOL following the launches can’t be ruled out.This can also help increase SOL’s TVL, which recently registered a decline.The efforts show an impact Solana’s development activity increased over the last week, which can be attributed to the aforementioned efforts.
SOL’s weighted sentiments also registered improvement.At the same time the network’s social volume remained consistent, reflecting its popularity in the crypto space.Is your portfolio green? Check the Solana Profit Calculator Open interest is declining! After a massive drop in SOL’s price on 27 April, the token recovered quickly as its 24-hour price chart was only down marginally.At press time, SOL was trading at $21.91, with a market capitalization of more than $8.6 billion.However, Solana’s demand in the derivatives market fell lately, as evident from the decline in its Binance and DyDx funding rates.According to Coinglass, SOL’s open interest also fell sharply over the last few days.
A decline in open interest means that the market is liquidating.This indicates that the on-going price trend is coming to an end, suggesting that SOL could register gains in the coming days.
HD: SushiSwap [SUSHI] to promote Uniswap v3 adoption as part of its new tokenomics model SushiSwap [SUSHI] aims to introduce sweeping changes to tokenomics following $3.3 mn hack – The volume recorded on the DEX in the last 24 hours was $35.6 million, representing a decline of 40%.- SUSHI’s supply on exchanges was on an upward trend since last month.After taking steps to neutralize the impact of the recent RouteProcessor2 exploit, decentralized exchange (DEX) Sushiswap [SUSHI] shifted its focus to a new tokenomics model, one that will promote the adoption of Uniswap [UNI] v3.Realistic or not, here’s SUSHI’s market cap in BTC terms SushiSwap CEO Jared Grey took to Twitter on 26 April to lay down the DEX’s roadmap.The plan is to increase SushiSwap’s market share, address governance-related issues and improve security.We’ve spent the past four months building additional tokenomics models to strengthen our proposed model & we’re planning a complete overhaul of our Chef contracts to give the tokenomics the best chance of success.8/ — Jared Grey (@jaredgrey) April 26, 2023 Sweeping changes expected? According to Jared Grey, the team has been working on the proposed tokenomics for the past four months, and it was expected that the model will soon be put up for final discussion and voting.
The changes will involve a complete overhaul of the protocol’s smart contracts.Grey said that V3’s enhanced capital efficiency and improved tokenomics will help SushiSwap grow its market share and appeal significantly.
To facilitate the deployment of Uniswap V3, the DEX built a new route processor, version 3, and stealthily launched it on some networks.It is to be noted that the recent hack exploited a vulnerability in version 2 of SushiSwap’s Route Processor, which led to the siphoning of $3.3 million worth of funds.SushiSwap then launched a claims portal, allowing victims to reclaim the whitehacked funds.Moreover, in order to boost cross-chain volume, SushiSwap was making improvements to its UI/UX and upgrading its cross-chain swap interface.Trading volume plunges SushiSwap’s trading volume dropped significantly in April, weighed down by the double whammy of regulatory concerns and the recent exploit.
At press time, the volume recorded on the DEX in the last 24 hours was $35.6 million, representing a decline of 40%, per DeFiLlama.The total value locked (TVL) on the protocol fell to $584.48 million, down by over 8%.
How much are 1,10,100 SUSHIs worth today? Declining appetite for SUSHI? Following Bitcoin’s [BTC] dramatic flash crash on 26 April, SUSHI’s price slipped below $1 briefly.However, it recovered to $1.04 at press time, data from CoinMarketCap showed.The sentiment towards the coin has been in negative territory ever since the details about the hack were made public.The supply on exchanges was on an upward spiral since the last month, which was a reflection of declining investor appetite for SUSHI.- Cardano reveals its plans with Aiken, its open-source smart contract language and toolchain – ADA struggles to sustain bullish momentum, a possible downside to support.Everyone has been waiting to see if Cardano will finally live up to its potential.There was a lot of excitement behind the launch of its smart contract capabilities in 2o21.Unfortunately, that hype was not backed by robust growth as previously expected.
Is your portfolio green? Check out the Cardano Profit Calculator Thus, Cardano is taking another shot at perfecting its smart contract game, only this time it is less hyped.Also, it might give Cardano the much-needed leg-up in attracting more network growth and development.The network aims to achieve this through a Cardano smart contract language and toolchain called Aiken.1/ Recently @Cardano has launched Aiken’s alpha phase, an open-source smart contract language & toolchain to simplify and enhance the development of smart contracts on the platform 🛠️ Let’s dive in and see what this means for smart contract development 🧵👇 pic.twitter.com/JwTavqb2YQ — Luganodes (@luganodes) April 26, 2023 Cardano just launched the Aiken alpha phase which it hopes will speed up the rate of development on the network.
Speaking of developments, Cardano’s development activity slowed down in the first half of April before bouncing back in the second half.To put Cardano’s latest development activity into perspective, the latest Github data revealed that it came in third in the list of top 10 GitHub daily development activity.GitHub Daily Development Activity: #1: 835 Polkadot / Kusama #2: 702 Internet Computer #3: 609 Cardano #4: 587 Hedera #5: 488 Ethereum #6: 465 Status #7: 460 ChainLink #8: 427 MultiversX #9: 405 Decentraland #10: 389 Cosmos pic.twitter.com/DYv3Ve5Irz — ProofofGitHub (@ProofofGitHub) April 26, 2023 ADA bulls struggle to bounce back A look at some of ADA’s on-chain data revealed that investors have been losing interest in ADA for the last four weeks.A perfect example of this observation was the decline in the weighted sentiment which recently hit its monthly low on 22 April.It was still near its current monthly low, confirming that investor interest was yet to recover.However, the altcoin at least registered a slight gain in the total amount of holders from the start of April up until 18 April when this metric fell off to a new monthly low.ADA achieved a strong surge in daily active addresses in the last two days.
This reflected the bullish momentum that was observed in most of the top coins during the same period.Its price action reacted positively, especially in the last 24 hours, during which an uptrend was observed.ADA’s slight upside was short-lived as sell pressure undid its previous gains.It traded at $0.39 at the time of writing.
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