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Over the past 24 hours, sentiment on major cryptocurrencies like Bitcoin and Ethereum seems a bit mixed. BTC is up 1.8 percent while ETH is down slightly by 0.7 percent. Despite its drop on Friday, ETH is up 9 percent over the past week. The total value of the crypto market remains above $2 trillion. Meanwhile, 5 altcoin projects have gained the most value in the past day. Here are the details…

The highest rising altcoin in the last 24 hours: Avalanche

Smart contract platform Avalanche (AVAX) is trading at $73.35 at the time of writing, hitting an all-time high of $75.32 about 2 hours ago. Cryptocoin. com, AVAX announced that it has completed a $230 million private token sale with a number of blockchain asset investment firms, including Polychain Capital and Three Arrows Capital, crypto hedge funds, angel investors and family offices.

IOTA (MIOTA), a smart contract platform that reimagines distributed ledger technology, has been on the rise lately. Earlier this year, the project released the highly anticipated IOTA 1.5. This release helped simplify network usage and increase processing speed. Recently, IOTA Founders Dominik Schiener and David Sønstebø answered questions from the Satoshi Street Bets subreddit. The interview touched on network plans as well as issues related to IOTA’s development in its ecosystem. MIOTA is trading at $1.68, up 10.42 percent at the time of writing.

Solana (SOL), Phantom (FTM) and UNUS SED LEO (LEO) also gained in value

After MIOTA and AVAX, Solana (SOL) is the third highest-growing altcoin. On September 14, Solana suffered a denial-of-service outage, and an increase in processing load—up to 400,000 per second—choked its network. As a result, the beta version of Solana’s mainnet experienced 18 hours of accuracy, forcing decentralized applications (dApps) running on the blockchain to become unusable. SOL still saw a 7.10% gain in the last 24 hours.

Another coin that has seen a significant increase recently has been Phantom (FTM). A rapidly growing tier-1 smart contract platform, Fantom uses a directed acyclic graphics architecture to achieve speed and scalability. According to data from LunarCrush, during the month of August, social media posts for Fantom saw an impressive 34.08 percent increase compared to July, receiving a total of 67,305 mentions. Finally, UNUS SED LEO, a utility token used in the iFinex ecosystem, gained 5.97 percent.


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Michael Lewis

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