Altcoins have started to capitalize on the bullish trend in the second quarter of this year. These cryptocurrencies have benefited from the general optimism with significant daily price increases. Moreover, investors are pleased with the profitable returns they are experiencing. This article highlights various tokens and explores the factors behind their notable surge in value. The cryptocurrency market has experienced considerable volatility this week with many tokens seeing significant price swings. TAO is trading at $579.24 with a market cap of around $3.7 billion and over $20 million in trading volume over the past 24 hours. Additionally, PENDLE has entered a price discovery phase, hitting a new all-time high of $7.23 earlier today. 禁qun免费；wei；LS688677
PERSON
Bittensor is an open-source protocol known for its decentralized marketplace for machine learning models and algorithms. The token recently experienced a surge in the price of the TAO token. It surged 700% in just two months, pushing the TAO token to an all-time high of $759.
As of this writing, TAO is trading at $579.24 with a market cap of approximately $3.7 billion and over $20 million in 24-hour trading volume. One factor contributing to this growth is the announced partnership between Bittensor and the AIT Protocol. The purpose of this integration is to develop a subnet within the Bittensor ecosystem called Einstein-AIT.
Furthermore, it aims to enhance Bittensor’s artificial intelligence services, potentially increasing TAO’s value by about 21.7% to $633.99. Moreover, Bittensor’s current trading activity indicates that it is trading above its 200-day simple moving average. Furthermore, Bittensor holds a leading position in the AI cryptocurrency space, reflecting its dominance and relevance in the market.
FTM
Fantom is a fast and scalable platform that improves transaction efficiency and smart contract execution. Its innovative consensus mechanism has attracted the attention of the blockchain community. Recently, Fantom has partnered with USDC issuer Circle to launch a new stablecoin, known as the "normative" stablecoin. To launch this new stablecoin, called USDC.e, Fantom will adopt the cross-chain messaging protocol Wormhole (W).
Fantom’s partnership with Circle aims to address liquidity fragmentation and stabilize the ecosystem. By leveraging the Wormhole Native Token Transfer (NTT) standard, USDC.e seeks to make the Fantom platform accessible to all users and developers, thereby increasing its appeal and functionality.
Additionally, FTM has also seen significant price movement, gaining 2.06% in the past 24 hours. FTM is trading 117.23% above its 200-day simple moving average (SMA), indicating strong sentiment. The 14-day relative strength index (RSI) shows a balanced outlook, with positive trends observed in 17 of the past 30 trading days.
FTM has high liquidity and a high volume-to-market cap ratio of 0.2265. The current sentiment surrounding the Fantom price prediction is bullish, with the Fear and Greed Index showing a reading of 76 (Extreme Greed). Furthermore, analysts anticipate a bullish rally in the cryptocurrency market, which is expected to drive the price of Fantom Coin up significantly in the second half of the year.
FLR
The FLR token has shown strong performance over the past week. Its price surged 27.96%, solidifying its position as the fourth-largest gainer in the cryptocurrency market. With a market cap of $1.65 billion, Flare maintains the 72nd spot.
Despite a relatively low 24-hour trading volume of $35 million, Flare has managed to maintain the positive momentum in the market. Moreover, Flare’s recent price surge can be attributed to the significant milestone of 482,000 on-chain wallet addresses. In addition, Flare Network is transitioning into the field of artificial intelligence while consolidating its position as an oracle protocol.
Additionally, Flare Network announced the integration of Hypernative to enhance security within its ecosystem. Through this collaboration, Flare ecosystem participants will benefit from protection against zero-day cyberattacks and preemptive alerts about emerging risks.
Given the increasing sophistication of web3 attacks and the widening range of their exploit vectors, strengthening security measures has become critical. By partnering with renowned leaders in Web3 security such as Hypernative, Flare aims to raise the bar for security and strengthen protection for all users, dApps, and institutions within its ecosystem.
PENDLE
Pendle, in partnership with Amber Group, announced a renewed partnership designed to provide Amber Group’s users with higher yields. The collaboration launched Pendle Earn, a feature that enables customers to earn a fixed interest rate on Ethereum. PENDLE has had an outstanding week, taking advantage of a brief market recovery to hit all-time highs.
Despite experiencing three consecutive days of intraday declines from April 1 to 3, PENDLE seized the opportunity as the broader market began its recovery phase on April 4. In addition, the launch of two new LRTs on Arbitrum on April 4 further boosted PENDLE's price, resulting in a sharp increase of 28.56%, the largest intraday increase this year.
Following this surge, PENDLE entered a price discovery phase, hitting a new all-time high of $7.23 earlier today. Despite currently being down 8.9% from its peak, the asset has retained a significant portion of its gains accumulated this week.
Furthermore, PENDLE is up 18.41% this week and now has a market cap of $1 billion. Additionally, PENDLE is currently trading above its 200-day simple moving average and is showing high liquidity based on its market cap.
