Cryptocurrency prices were mixed on Wednesday as some investors began taking profits after a strong inflation report from the US. Bitcoin was hovering around the $72,000 resistance level, while Ethereum was slightly higher.
Injection (INJ) and avalanche (AVAX) was some of the best performing cryptocurrencies, rising over 20%. Other winners were coins such as Near Protocol, Ordi, Celestia, Algorand, and THORChain. rememberer It also continued to perform well, with token sales exceeding $6.4 million.
Injective and Avalanche were the top gainers.
Avalanche has been one of the best-performing cryptocurrencies, surging to its highest level since May 2022. At its peak, the coin was up more than 550% from its 2023 low.
Injective also had a strong showing, jumping to its highest point on record. It rose to $52, making it one of the best-performing cryptocurrencies after trading at $0.64 in October 2020. This means that $10 invested in the coin at the time is now worth more than $800.
Avalanche and injectable coins surged as the Crypto Fear and Greed Index remained above the extreme greed zone of 85. In most cases, altcoins tend to perform well in these market conditions, which explains why most altcoins have surged recently.
Their ecosystem growth has accelerated over the past few months. The data shows the number of Avalanche addresses soared to more than 76,000 and the Total Value Locked (TVL) soared to $1.7 billion. It is the 8th largest blockchain in the world.
Injective, a platform backed by Mark Cuban and Polychain Capital, has also seen strong inflows recently. TVL record It reached a peak of $177 million with help from Hydro Protocol, DojoSwap, Helix and Mito Finance, among others. Helix has become one of the leading DEXs on the market, handling nearly $100 million worth of tokens in the last 24 hours.
Memeinator token sale is underway.
Meanwhile, Memeinator is another top-performing player in the cryptocurrency industry. The developers have now raised more than $6.4 million as they move into Phase 18. There are now two more steps to take before the token sale ends. After closure, tokens will be listed on major centralized and decentralized exchanges.
For the uninitiated, Memeinator is an upcoming cryptocurrency project that aims to profit from three main themes in the market. It aims to profit from key areas such as meme coins, artificial intelligence (AI), and gaming.
Meme coins like Floki, Pepe, and Bonk were among the best-performing cryptocurrencies this year. Data shows that the market capitalization of all meme coins is over $65 billion.
AI, on the other hand, has become the fastest-growing technology, helping Nvidia become a $2 trillion company. Gaming tokens like Axie Infinity and Gala Games have become some of the best-performing coins on the market.
Therefore, Memeinator developers hope that these themes will help them increase their market capitalization into millions and even billions of dollars. You can purchase MMTR tokens here.