CoinMarketCap: Helium overtakes Bonk as top gainer

After reporting 26% gains, Bonk falls to the second highest gainer after Helium, according to a Jan. 9 CoinMarketCap report.

In a recent update, Helium (HNT) now takes the first place in the gainer report. The decentralized blockchain network catering to the Internet of Things (IoT) devices has since seen a 27.1% surge in the last 24 hours, alongside a trading volume of $41 million.

Launched in July 2019, the Helium mainnet empowers low-powered wireless devices to communicate and transmit data seamlessly across its network of nodes. The growth in Helium coincides with growing interest in Solana, which has since propelled related memecoin, Dogwifhat, up 71% on the same day.

This surge was closely followed by Bonk (BONK), which currently holds the second-highest gainer on the charts at 25.7%. Bonk experienced a substantial increase of 160% in its daily trading volume, reaching an impressive $326 million. Notably, a significant percentage of BONK’s trading volume, 36.2%, originates from Binance, particularly with the USDT trading pair. According to an earlier technical analysis, the price of BONK may once again surge, even reclaiming the spot as a top gainer. 

The third spot is Bitcoin SV (BSV), priced at $91.34, marking a notable 19.2% increase over the last 24 hours. The cryptocurrency market is on the verge of significant shifts, with anticipation building around two key factors.

Firstly, tomorrow’s decision by the SEC to introduce a Bitcoin Spot ETF is generating substantial market attention. Additionally, the upcoming Bitcoin halving event scheduled for late April 2024 contributes to the overall excitement in the cryptocurrency landscape. 

Analysts have concluded that not everything is in the green, and the market is still volatile as the world awaits a decision on the spot Bitcoin ETF.