Forget Bitcoin! Here’s What’s Hot in Crypto Today

The post Forget Bitcoin! Here’s What’s Hot in Crypto Today appeared first on Coinpedia Fintech News

It’s a new dawn for crypto – and yet again, there’s an unexpected twist!

The global market cap saw a modest 1.5% dip over the last day, settling at $2.46 trillion. Even the king crypto, Bitcoin, is down by 1%. Despite this, attention is drawn to specific tokens that are making waves with significant developments.

While the broader market adjusts, tokens like Worldcoin (WLD) and Litecoin (LTC) stand out with their intriguing movements.

Should they find their way into your portfolios? Let’s read on to find out.

Worldcoin: Powered By AI?

Worldcoin, powered by AI technology, has seen an impressive surge in market cap, climbing a remarkable 44% throughout May. This surge, bouncing back from a recent low in April, coincides with increased chatter about AI’s role in financial activities following comments by Warren Buffett.

Backing up Worldcoin’s rise, data from Santiment shows a substantial 21.5% spike in total open interest within just one day, jumping from $131.9 million to $160.3 million. This indicates a significant uptick in investor interest.

The top trending tokens in #crypto today are:

#Worldcoin $WLD: The #AI asset has seen its market cap grow +44% thus far in May after bottoming out at the end of April. It has also seemingly gotten a boost after #WarrenBuffett made recent controversial comments about… pic.twitter.com/7VXVzOGnfk

— Santiment (@santimentfeed) May 6, 2024

In response to these market dynamics, WLD has surged by 23.6% over the past 24 hours, reaching a trading price of $6, a level not seen in three weeks. Currently, the asset’s market cap stands at $1.32 billion, positioning it as the 70th-largest digital currency by market capitalization. 

Litecoin Makes A Strong Comeback

Meanwhile, Litecoin is back in focus, fueled by talks of potential Litecoin exchange-traded funds (ETFs) with Grayscale. This revived interest sparks speculation and attention on future ETF developments.

Insights from Santiment, shared by trader Kamikaze, shed light on Litecoin’s recent behavior. Despite price fluctuations, ranging from $113 to $74.5 in the past two months, Litecoin has managed to hold above $80.

Although the price of #Litecoin has fallen, data from @santimentfeed shows that whales purchased an additional 100,000 LTC between April 28th and May 4th. This counter-trend behavior suggests potential long-term bullish sentiment among major holders.$LTC #Crypto pic.twitter.com/VbqMrYUwIP

— 山丨ㄥㄥ Trader_Kamikaze (@trader_kamikaze) May 5, 2024

However, technical indicators like the EMA suggest a possible bearish turn, with the potential for a crossover between the 20-day and 100-day EMAs. This could lead to increased selling pressure, possibly extending the ongoing consolidation. Additionally, the daily RSI hovering around 44% signals a neutral to bearish market sentiment.

In the midst of these shifts, investors remain vigilant, closely watching market dynamics and developments to capitalize on emerging opportunities.

Also Check Out: Altcoin Market to Surge as Bullish Pattern Hints at Breakout: Time to Diversify from Bitcoin?

The crypto market is full of surprises. What tokens are catching your eye right now?