Why These 4 Altcoins are Trending Today?
While the broader crypto market faces major turbulence, some cryptos are defying the market trend. Although it is common for the market to witness declines and unfavorable trends, some beat the odds due to investors’ support, a strong utility, and other specific reasons. In this blog, let’s discuss the trending altcoins today and the reasons behind them.
Top 4 Trending Altcoins Today and Why
After the major crypto market crash in recent days, many crypto tokens are attempting to recover amid increased investor demand. In this list, the most trending altcoins of the day are MyShell, Kaito Pi Coin, and Litecoin amid new listing announcements and increased investor activity.
1. MyShell (SHELL)
SHELL is the native token of MyShell, a decentralized AI consumer layer designer that gained investor attention right after its launch. Fueling its demand, Binance announced it as the 10th HODLer program, with trading beginning today, February 27. As a result, the MyShell token price grew 45% within a few hours, hitting a new ATH of $0.6816.
Amid increased visibility and building investor interest, SHELL is among the most trending altcoins in the market today.
2. Kaito (KAITO)
Regarding trending, the Kaito crypto token is on a similar track. The Coinbase perpetual listing announcement has fueled the KAITO price surge by 33%. It has already received a listing on various other popular exchanges like Binance, and the investors are awaiting more.
As its price has surged 75% since February 24, its demand is increasing, and its early adopters are making significant returns.
3. Pi Coin (PI)
Pi Coin was controversial earlier due to delays in its launch, and some called it a scam. Despite the allegations, the token is gaining a remarkable rally, soaring 352% over the week. It has recently hit a new ATH and is up for a few crypto exchange listings.
However, this crypto token’s high-end adoption rate is behind its trending outcome in the altcoins section.
The PI team recently announced that Zito Realty in Florida accepts Pi coins for real estate transactions. There are also a few other such news about its real-life usage, which is influencing investors’ sentiments due to its increased utility.
4. Litecoin (LTC)
Litecoin is among the top cryptos and the few that defied the recent broader market correction. LTC price has surged 7% today, hitting $130 with high trading volume. More importantly, the investors’ sentiments turned bullish as they anticipate the SEC’s approval of the Litecoin ETF.
Although there’s no official announcement around approval, the stance of the SEC over Litecoin and analysts’ claims increased the odds on the polymarket. This increased the demand for LTC in the current market.
Conclusion
With the changing market trends and crypto tokens attempting recovery, MyShell, Kaito, Pi Coin, and Litecoin are among the trending cryptos of the day. Their rallies and trending behaviors were due to investors’ sentiments turning favorable toward them amid their exchange listings, adoptions, or new updates.
However, the broader market sentiments remain bearish, so investors must stay cautious and build their strategies accordingly.
The post Why These 4 Altcoins are Trending Today? appeared first on CoinGape.
