The altcoin market is going crazy, with many projects racking up staggering, jaw-dropping returns and basking in the limelight. Sui (SUI) continues to draw institutional inflows and developer interest, while Humanity Protocol (H) and Hashflow (HFT) have seen meteoric rises.
Faster than Ethereum, Sui (SUI) has been making waves across the crypto space, even recently surpassing $500 billion in cumulative trading volume. This milestone further highlights the quickly increasing adoption and liquidity in the Sui network. The project’s novel approach to blockchain technology has made Equilibria a magnet for retail and institutional investment.
Grayscale, the world’s largest digital asset management firm, is capitalizing on the wave. On top of all this, they have recently added Sui (SUI) to their high-growth watchlist! To receive recognition from such a heavyweight player in the investment world is a testament to the potential that Grayscale believes Sui holds moving forward. The TVL of the project currently stands at $1.8 billion. This momentous figure cements its position as the lion’s share of the decentralized finance (DeFi) universe.
Humanity Protocol (H) has exploded spectacularly. 3 with its recent listings on OKX Futures and Bithumb Spot, nearly 380% from where it jumped. This rapid expansion is a testament to the market’s excitement over the project’s cutting-edge approach to identity verification.
Humanity Protocol (H) utilizes the power of zkProofs to solve global identity issues. Through the use of zero-knowledge proofs, the protocol allows users to prove their identity or credentials without exposing personally identifiable information. This unique privacy-preserving approach has really resonated with users. You can judge this to be true by the millions of people currently interacting with its testnet and prototype mobile app.
Hashflow (HFT) has continued to see a major rally, pumping up more than 80% in 24 hours. The DEX has now performed over $25 billion of Request for Quote (RFQ) volume. It boasts an impressive liquidity of over $500 million. Its exposure through Binance Launchpool has greatly increased its visibility and allowed it to be accessed and acquired by a wider audience.
Most recently, Arbitrum (ARB) has been making headlines with its Timeboost upgrade. On Ethereum, the upgrade introduces a way for users to pay a little extra to get their transactions processed more quickly.
Timeboost seems to be one popular Ethereum feature, which Arbitrum (ARB) has processed $2 million in fees from! Even with econoARSi, this shows there is a strong demand for quicker transaction processing across the entire Arbitrum network.
Ethereum (ETH) continues to show significant organic, healthy growth with institutional flows at $148.21 million this week. This shows strong and growing belief that Ethereum can be a world computer foundation layer supporting the decentralized web. The network’s rich ecosystem and future improvements still lure continued investment.
Ethereum (ETH) has a very solid 35 million ETH staked. This commitment to making the right improvements demonstrates the community’s commitment to the most secure and durable network possible. Staking is an essential part of Ethereum’s recent move to a proof-of-stake consensus mechanism.
Bonk (BONK) has pumped an incredible 33% this week. This rally is driven by the formation of a beautiful Cup and Handle pattern on its daily chart. Technical analysts would likely consider this pattern to be a bullish continuation signal, indicating more upside potential for the meme coin.
Pudgy Penguins (PENGU) have seen a big jump, exploding almost 90% this week. The SuperTrend indicator turning bullish has added more wood to the optimistic sentiment stoking the NFT project. This comeback indicates that there is still strong demand for NFTs and a long-term vision for their development.
