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With the crypto market evolving rapidly and attracting global investor attention, certain digital assets stand out for their performance and potential. dogwifhat (WIF), Pendle (PENDLE), and Bitcoin Cash (BCH) have drawn considerable interest due to recent developments and market shifts. These top cryptos are closely monitored this week as they navigate price fluctuations, technological progress, and investor sentiment, presenting distinct opportunities and challenges in the dynamic digital asset realm.
#1 dogwifhat (WIF)
dogwifhat (WIF) stands out as a Solana-based memecoin centered around a Shiba dog adorned with a pink knitted hat. Unlike projects boasting grand symbols of progress or futuristic ideals, WIF takes a lighthearted approach. Essentially, it’s a meme featuring a Shiba dog wearing a pink-knitted hat, and even the intentional misspelling of “wif” instead of “with” adds to its playful nature.
Despite its simplicity, dogwifhat has captivated the crypto community, surpassing established memecoins like SHIB and PEPE in 24-hour trading volume. The coin’s success is a testament to its whimsical charm and community-driven enthusiasm.
The price of dogwifhat (WIF) on WazirX is INR 368.800 today. According to CoinMarketCap, the 24-hour trading volume is $850,935,033, with a circulating supply of 998,920,173 WIF and a market cap of $3,884,832,271.
Dogwifhat (WIF) has surged in price due to its impressive 90% weekly gain, positioning it as the second-highest gainer last week among Solana (SOL)-based meme tokens. Reaching an all-time high above $4.5 on March 30th, WIF experienced heightened trading volume, driving its market capitalization to $4.2 billion. With positive daily chart analysis indicating a bullish trend, continued momentum could extend gains into the new week.
#2 Pendle (PENDLE)
Pendle is a permissionless DeFi protocol that allows tokenizing and trading future yield using an Automated Market Maker (AMM) mechanism. This yield-trading protocol is implemented on the Ethereum network and EVM-compatible chains Arbitrum and Avalanche, and it offers a platform where users can apply various sophisticated yield strategies. Pendle fundamentally enables people and protocols to make the most of their profits, regardless of the market’s current condition.
The main objective of Pendle Finance is to create an environment for crypto investors who own yield-generating assets with time decay, allowing them to increase their profits and lock in prospective gains upfront. Additionally, without requiring underlying collateral, the protocol attempts to give traders direct exposure to future yield streams.
The price of Pendle (PENDLE) on WazirX is INR 474.995 today. According to CoinMarketCap, the 24-hour trading volume is $187,606,289, with a circulating supply of 238,185,588 PENDLE and a market cap of $1,270,517,493.
Pendle’s recent surge in price can be attributed to its achievement of new all-time highs in various key metrics, signifying a remarkable milestone in its market performance. This upward trajectory coincides with news of the project’s potential deployment on the Solana blockchain, shared by The DeFi Investor. The prospect of leveraging Solana’s high-speed transactions and lower gas fees has sparked investor enthusiasm, fueling anticipation for Pendle’s scalability and efficiency improvements. This development opens doors to broader adoption and usage, driving heightened interest and potential growth in the project.
#3 Bitcoin Cash (BCH)
The Bitcoin protocol fork was initiated in August 2017 and completed after the Segregated Witness (SegWit) update was launched to improve Bitcoin’s scalability slightly.
Bitcoin Cash was produced out of this fork. The resulting crypto adhered to the original Bitcoin codebase while removing the implications of the SegWit upgrade. The maximum block size was also increased to 8MB from the initial 2MB following the fork, allowing for greater data processing per transaction. Bitcoin Cash, as a currency, operates in the same way as Bitcoin.
The price of Bitcoin Cash (BCH) on WazirX is INR 49,554 today. According to CoinMarketCap, the 24-hour trading volume is $1,204,562,925, with a circulating supply of 19,686,194 BCH and a market cap of $11,949,969,790.
Bitcoin Cash (BCH) is experiencing a notable surge in price, surpassing $600, attributed to the anticipation of its upcoming Halving event. This scheduled protocol adjustment aims to reduce block rewards for miners, enhancing the asset’s scarcity and value. With 230,000 new investors entering the market and numerous portfolios created in March alone, there’s a significant uptick in interest and demand for BCH. Market participants anticipate further price increases in the short term, especially with Halving approaching.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
