Top Crypto Gainers Today: Gnosis (GNO), Akash Network (AKT), and Injective (INJ)

The cryptocurrency market has been quite volatile, and there have been fluctuations in the prices of different tokens. While most major cryptocurrencies such as Bitcoin and Ethereum have been declining, some altcoins have proven to be quite resilient and even growing. Today’s top performers are Gnosis (GNO), Akash Network (AKT), and Injective (INJ) as all three tokens are showing strong upward movement while the rest of the market is bearish.

Bitcoin (BTC) was at $68,000 and there was a possibility of it going down to $67,000. The same was observed in Ethereum (ETH) which was trading below $3,600. The rest of the market also had bearish sentiments with other altcoins such as Solana (SOL) and XRP declining.

Gnosis (GNO)

Gnosis (GNO) crypto coin has witnessed a significant increase in its value. Currently, GNO is at $350.09, reflecting an 8.30% increase.  The trading volume for GNO also increased to $33,355,045.

The price rise started from a level close to $320 and maintained a constant rise before it started to fluctuate around the $350 level. This price movement shows that there is a strong demand for the coin and the high volume shows that there is a lot of interest in trading it. The $350 level has now become a new psychological and technical resistance level which may either consolidate further or may face selling pressure if traders opt for profit booking.

Akash Network (AKT)

Akash Network (AKT) has also risen significantly and can be considered as one of the notable performers in the current market. Currently, AKT is at $4.55, up by 8.20% in the last 24 hours with a trading volume of $42,438,484. 

The price increase reached its highest level around $4.73 before coming back to its current levels. The volume/market cap ratio at 4.67% shows active trading which may still be able to affect the price volatility. Key resistance is expected in the area of the recent high at $4.67, while support can be expected around $4.00, which was the last level before the price increase in the recent period

Injective (INJ)

Today, Injective (INJ) has demonstrated a relatively good performance, and its price is up 6% in the last 24 hrs. 97%. Currently trading at $29.17, Injective has a trading volume of $219,219,264. Injective Protocol is a DEX that provides complex trading tools and interoperability with other blockchains to enable trading of any derivative on any chain.

The market capitalization of the coin also increased by 10.19% to $2,735,948,291. At the moment, INJ is finding it hard to break the $29.50 mark, which it tested earlier today. If it manages to break through this level, further increases could be anticipated. On the other hand, the recent low was recorded at $26.82 could act as a support level in the case of a pullback.

The global crypto market cap has declined by 2.49%, now at $2.48 trillion. However, the total market volume has increased by 53 percent, which is a clear indication of the increased trading activity, reaching $74.94 billion. This increase in trading volume shows that there is increased interest even as the prices of most cryptocurrencies continue to drop.