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Top Crypto Gainers Today, August 28 – Cronos, Kaia, Raydium

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Highlights:

  • Cronos, Kaia, and Raydium shine as the top crypto gainers today, riding strong momentum in the market.
  • Massive investor interest skyrocketed in Cronos when Trump Media had a $6.4B treasury deal with Crypto.com.
  • Kaia’s KRW stablecoin partnership and Raydium’s surging DeFi activity highlight growing real-world adoption and utility.

Since the beginning of the week, the cryptocurrency market has been volatile. Bitcoin dipped to under $110k a few days ago but bounced back to over $112k a few hours ago. As the volatility eases, the overall market cap and trading volume stand at $3.90 trillion and $173 billion, respectively. Moreover, several tokens have displayed robust performances and emerged as the top crypto gainers today. In the section below, let’s discuss these tokens, including Cronos, Kaia, and Raydium.

Top Crypto Gainers Today

1. Cronos (CRO)

Cronos has emerged as the top crypto gainer today, with a 60% surge over the past 24 hours. This impressive bullish momentum has pushed the price from $0.2086 to reach $0.3700, where it faced resistance. Moreover, the altcoin is up by almost 150% on the weekly chart. Currently, the price is hovering around $0.34 with a market cap of $12 billion.

Source: CoinMarketCap

Cronos rebounded this week after Trump Media and Technology Group announced a $6.4 billion treasury agreement with Crypto.com. Yorkville Acquisition was on the deal, bringing the prices of CROs to the highest point since May 2022.

The introduction of the Trump Media Group CRO strategy led to the rally, according to crypto CEO Kris Marszalek of Crypto.com. He also suggested that the holdings in CRO by Trump Media have currently grown to $1.5 billion. The price burst was a multi-year high for the token, and it attracted an immense shift in interest in the joint project.

2. Kaia

KAIA is exchanging hands at $0.1560 following an 11% rally, which shows resilience in the market. This steady uptrend has seen its market cap reclaim the $1 billion level. Having emerged among the top crypto gainers today, its trading volume has soared massively by over 300% to $100 million. 

Source: CoinMarketCap

Kaia and Open Asset have announced a partnership to launch Korean Won stablecoins on the Kaia blockchain. The collaboration is centered on developing regulated payment systems based on blockchain technology. Open Asset has experience in previous projects, such as work on the Bank of Korea CBDC. The companies intend to issue and distribute stablecoins as they prepare services for wider applications.

Another component of the agreement is the provision of the regulated branded issuance agency services. Both firms will share networks, clients, and technical support. Open Asset focuses on the growing presence of KRW stablecoins, and Kaia supports infrastructure to enhance the use of stablecoins in real-world cases.

3. Raydium (RAY)

Raydium’s price is in the headlines again. It rose by 8.95% in 24 hours to $3.85, reaching intraday highs of $3.99. The trading volume rose to $303 million, representing a 240% rise over the prior day, which pushed Raydium to be among the top crypto gainers today. Moreover, RAY is up by 17% and 26% on the weekly and monthly charts, respectively.

Source: CoinMarketCap

Raydium is experiencing renewed strength in the marketplace, with the token overcoming a multi-week consolidation. The price broke through a tightening triangle pattern, generating pressure that might elevate the price to $4. After regaining important levels of support, technical levels now indicate a further rally.

According to Messari data, institutional metrics also emphasize growth. A quarter-to-quarter basis saw a 54.7% increase in total value locked to $1.8 billion, and a volume growth of $1.1 billion was contributed by LaunchLab. Over the past year, the protocol’s fees exceeded $1.8 billion, and Raydium commanded a market share of 35.2%. With $58 million allocated for annual buybacks, supply pressure may support continued investor interest.

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