Decred

2024

Bitcoin

Meme Games

Tellor

As Bitcoin solidifies its dominance in the cryptocurrency market, its share has soared to a striking 55.05%, marking its <a href="https://finance.yahoo.com/news/bitcoin-dominance-highest-three-years-074033456.html">highest dominance in three years</a>. Furthermore, Bitcoin’s market capitalization has surged to $1.27 trillion, significantly overshadowing the entire crypto market’s valuation of $2.43 trillion. In comparison, Ethereum holds a substantial 16.5% of the market, valued at $389 billion. 
This rise in Bitcoin’s dominance is somewhat surprising, as altcoins typically outperform Bitcoin during bullish phases. However, despite a brief resurgence of meme coins earlier this year, the broader altcoin market has not mirrored these gains. Meltem Demirors, Chief Strategy Officer at CoinShares, explains that recent ETF flows have disrupted the usual market cycle. As a result, Bitcoin’s gains are no longer transferring into altcoins, leading to unexpected shifts in market dynamics.&nbsp; 
<h2 id="b-biggest-crypto-gainers-today-top-list-b">Biggest Crypto Gainers Today – Top List</h2> 
Today, however, the spotlight shifts to the <a href="https://insidebitcoins.com/news/top-crypto-gainers-today-jul-31-wemix-livepeer-ankr-network-compound">top crypto gainers</a>—Decentralized Social, Decred, Centrifuge, and Tellor. These unique cryptocurrencies offer valuable insights into potential opportunities within a market heavily skewed towards Bitcoin. Consequently, their remarkable achievements suggest promising areas beyond Bitcoin. Get ready for well-analyzed insights that could steer you toward a profitable portfolio. 
<h3 id="b-1-b-b-decentralized-social-deso-b">1. Decentralized Social (DESO)</h3> 
Decentralized Social is a layer-1 blockchain specifically designed to reshape social media. Unlike traditional platforms, DeSo gives users complete ownership of their profiles, content, and social graphs. Moreover, this decentralized approach empowers creators to monetize their work through innovative tools like Social Tokens, Social DAOs, and NFTs. By enabling gasless, permissionless, and transparent development, DeSo fosters an open and collaborative environment for millions of developers worldwide. 
<img decoding="async" class="aligncenter size-full wp-image-559613" src="https://insidebitcoins.com/wp-content/uploads/2024/08/DESO-Price-Chart.png" alt="DESO Price Chart" width="1200" height="543" srcset="https://insidebitcoins.com/wp-content/uploads/2024/08/DESO-Price-Chart.png 1200w, https://insidebitcoins.com/wp-content/uploads/2024/08/DESO-Price-Chart-300x136.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/08/DESO-Price-Chart-1024x463.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/08/DESO-Price-Chart-768x348.png 768w" sizes="(max-width: 1200px) 100vw, 1200px"> 
What sets DeSo apart is its ability to support social-oriented features at a scale unattainable by general-purpose blockchains. Additionally, this blockchain handles both traditional and novel social features, enabling creators to connect with followers and monetize content more effectively. With highly scalable storage capabilities, DeSo offers on-chain storage at a fraction of the cost compared to other infrastructures. Furthermore, by treating social data as a public utility, DeSo ensures that all content is accessible across a network of independent apps. This approach provides a truly censorship-resistant and user-owned social media experience. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 AI technology is getting more powerful every day. 
 Yet major social media sites are already instituting policies to ban generative AI content and suspend accounts that use AI tools. 
 Here's why we need Social media platforms that are actually embracing generative AI 🧵 <a href="https://t.co/vub4g0LilJ">pic.twitter.com/vub4g0LilJ</a> 
 — DeSo (@desoprotocol) <a href="https://twitter.com/desoprotocol/status/1816143967114911924?ref_src=twsrc%5Etfw">July 24, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
In terms of recent performance, DESO has surged by 6.24% over the past 24 hours, elevating its price to $8.09. Furthermore, it enjoys robust liquidity, as evidenced by a volume-to-market cap ratio of 0.0716, which shows active trading. However, despite the current 14-day RSI of 64.41, indicating a neutral trend, DESO remains 20.27% below its 200-day SMA of $10.21. Additionally, over the past year, it has seen an 8% decline and has outperformed only 17% of the top 100 cryptocurrencies. This snapshot reveals both short-term gains but also highlights ongoing challenges in long-term performance and market positioning. 
<h3 id="b-2-b-b-decred-dcr-b">2. Decred (DCR)</h3> 
Decred is a forward-thinking cryptocurrency that blends Proof-of-Work (PoW) with Proof-of-Stake (PoS) to secure and govern its network. It stands out for its dual-layer security approach, which combines the computational power of miners with the voting power of coin holders. Miners validate transactions and create blocks, while stakeholders, who lock up their coins as “stake,” vote on network proposals and validate transactions. This system not only ensures robust security but also involves the community in shaping the future of the project. 
<img decoding="async" class="aligncenter size-full wp-image-559615" src="https://insidebitcoins.com/wp-content/uploads/2024/08/DCR-Price-Chart.png" alt="DCR Price Chart" width="1200" height="543" srcset="https://insidebitcoins.com/wp-content/uploads/2024/08/DCR-Price-Chart.png 1200w, https://insidebitcoins.com/wp-content/uploads/2024/08/DCR-Price-Chart-300x136.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/08/DCR-Price-Chart-1024x463.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/08/DCR-Price-Chart-768x348.png 768w" sizes="(max-width: 1200px) 100vw, 1200px"> 
Moreover, Decred’s decentralized treasury, funded by block rewards, supports sustainable development and marketing without relying on external funding. The Decred Constitution and the Politeia proposal system further enhance governance by allowing stakeholders to propose, discuss, and vote on changes. This democratic approach, coupled with atomic swaps for cross-chain exchanges, highlights Decred’s commitment to innovation and user empowerment. Overall, Decred is designed for long-term growth, prioritizing community input and adaptability in the cryptocurrency space. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 DEX v1 is almost here. Updates include: 
 – Rebrand to <a href="https://twitter.com/BisonWallet?ref_src=twsrc%5Etfw">@BisonWallet</a> – Stablecoin support on L2 networks (MATIC) – Market maker + Arb bots – New coins like <a href="https://twitter.com/firoorg?ref_src=twsrc%5Etfw">@firoorg</a> and <a href="https://twitter.com/Dashpay?ref_src=twsrc%5Etfw">@Dashpay</a> – Staking + privacy mixing – Standalone client + Easier setup 
 The revolution will not be centralized <a href="https://t.co/zXtsq6g5xm">pic.twitter.com/zXtsq6g5xm</a> 
 — Decred (DCR) (@decredproject) <a href="https://twitter.com/decredproject/status/1815795559766102267?ref_src=twsrc%5Etfw">July 23, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
DCR has surged 5.14%, bringing its price to $13.03. This impressive gain highlights its strong liquidity, with a volume-to-market cap ratio of 0.0352. Currently, the 14-day RSI stands at 44.14, suggesting a balanced market position. Yet, despite this positive momentum, DCR is trading 26.81% below its 200-day SMA of $17.84. Over the past month, it has enjoyed a solid 43% rate of positive trading days. Although Decred has faced a 9% decline over the past year, it has still managed to outperform 17% of the top 100 crypto assets. 
<h3 id="b-3-the-b-b-meme-games-mgames-b">3. The Meme Games (MGAMES)</h3> 
<a href="https://insidebitcoins.com/visit/thememegames" rel="nofollow">Meme Games</a> is causing a stir with its Olympic-themed meme coin, $MGMES. As Paris 2024 draws attention, the presale has already raked in over $300,000 in just two weeks. Furthermore, this innovative project adds excitement to the meme coin trend by letting users bet on five top meme coins—Dogecoin ($DOGE), Pepe ($PEPE), DogWifHat ($WIF), Brett ($BRETT), and Turbo ($TURBO)—in Olympic-style events. With $MGMES tokens, users can place bets and potentially earn a 25% bonus if their chosen coin wins. 
<img decoding="async" class="aligncenter size-full wp-image-559617" src="https://insidebitcoins.com/wp-content/uploads/2024/08/MGAMES-Tweet.png" alt="MGAMES Tweet" width="430" height="721" srcset="https://insidebitcoins.com/wp-content/uploads/2024/08/MGAMES-Tweet.png 430w, https://insidebitcoins.com/wp-content/uploads/2024/08/MGAMES-Tweet-179x300.png 179w" sizes="(max-width: 430px) 100vw, 430px"> 
Moreover, Meme Games offers impressive staking rewards, boasting an APY of 754%. As a result, investors can potentially double their investments by staking $MGMES. Approximately 13 million tokens have already been staked, showcasing strong early interest. In addition, investors can earn additional rewards by staking their event winnings. Currently priced at $0.00915, the token is set to increase in 5 days, creating urgency for early investors. 
<iframe title="The Next 10X Meme Coin... The Meme Games PRESALE?! (Best Crypto to Buy Now?!)" width="640" height="360" src="https://www.youtube.com/embed/XSe4iGYkJ3o?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> 
To participate, simply visit the Meme Games website and connect your crypto wallet to purchase $MGMES using ETH, USDT, BNB, or even bank cards. Notably, the presale offers 38% of the total token supply, with 9.30% allocated for game winnings. The smart contract has been thoroughly audited by SolidProof to ensure its security. Also, with over 17,000 followers on X and a highly anticipated DEX listing, <a href="https://insidebitcoins.com/visit/thememegames" rel="nofollow">Meme Games</a> is ready to make a major impact. 
<a href="https://insidebitcoins.com/visit/thememegames" rel="nofollow">Visit Meme Games Presale</a> 
<h3 id="b-4-b-b-centrifuge-cfg-b">4. Centrifuge (CFG)</h3> 
Centrifuge is a decentralized asset financing protocol that bridges DeFi with real-world assets (RWA). By tokenizing assets such as invoices, real estate, and royalties into non-fungible tokens (NFTs), it enables small and mid-size enterprises (SMEs) to access liquidity through its lending DApp, Tinlake. Built on Polkadot for its efficiency and low fees, Centrifuge seamlessly connects to Ethereum to enhance liquidity further. Consequently, this setup allows companies to obtain financing without relying on traditional banks, while investors benefit from income and rewards in CFG tokens. 
<img decoding="async" class="aligncenter size-full wp-image-559618" src="https://insidebitcoins.com/wp-content/uploads/2024/08/CFG-Price-Chart.png" alt="CFG Price Chart" width="1200" height="551" srcset="https://insidebitcoins.com/wp-content/uploads/2024/08/CFG-Price-Chart.png 1200w, https://insidebitcoins.com/wp-content/uploads/2024/08/CFG-Price-Chart-300x138.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/08/CFG-Price-Chart-1024x470.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/08/CFG-Price-Chart-768x353.png 768w" sizes="(max-width: 1200px) 100vw, 1200px"> 
Its security is anchored in Polkadot’s relay chain, providing robust protection at minimal cost. Users pay transaction fees in CFG tokens, and transaction aggregators on Polkadot receive a share for processing and storing data. Additionally, the Nominated Proof-of-Stake (NPoS) mechanism, combined with CFG rewards, fosters fair operation and ensures the selection of reliable data collators. As a result, this system not only guarantees censorship resistance but also maintains overall network security. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 You can now effortlessly track the historical growth of the Net Asset Value (NAV) for each pool on Centrifuge. 
 This is computed onchain and used to set the token price, providing a clear and transparent way to assess pool performance. 
 Check it out: <a href="https://t.co/gyKLxOk6CY">https://t.co/gyKLxOk6CY</a> <a href="https://t.co/5POxt9hTcO">pic.twitter.com/5POxt9hTcO</a> 
 — Centrifuge (@centrifuge) <a href="https://twitter.com/centrifuge/status/1816133683520365016?ref_src=twsrc%5Etfw">July 24, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Moreover, CFG has increased by 4.68% in the last 24 hours, reaching $0.464383. This uptick highlights a solid market presence, with medium liquidity evidenced by a volume-to-market cap ratio of 0.0133. The 14-day RSI at 55.18 suggests a stable, neutral trend. Adding to its appeal, CFG is currently trading 19.43% above its 200-day SMA of $0.38884. Over the last year, the token has risen by 61%, showcasing impressive growth. Notably, CFG has outperformed 49% of the top 100 cryptocurrencies, indicating its robust market performance and promising potential for future gains. 
<h3 id="b-5-tellor-trb-b">5. Tellor (TRB)</h3> 
Tellor is transforming how off-chain data integrates with blockchains as a decentralized Oracle protocol. Oracles update smart contracts with real-world data, and Tellor lets anyone globally become a data reporter using open-source software. Consequently, its permissionless model creates a dynamic marketplace where reporters compete to provide accurate information. Moreover, the frequency of updates is influenced by how much users tip the feed with TRB, making the system both adaptable and engaging. 
<img decoding="async" class="aligncenter size-full wp-image-559619" src="https://insidebitcoins.com/wp-content/uploads/2024/08/TRB-Price-Chart.png" alt="TRB Price Chart" width="1200" height="612" srcset="https://insidebitcoins.com/wp-content/uploads/2024/08/TRB-Price-Chart.png 1200w, https://insidebitcoins.com/wp-content/uploads/2024/08/TRB-Price-Chart-300x153.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/08/TRB-Price-Chart-1024x522.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/08/TRB-Price-Chart-768x392.png 768w" sizes="(max-width: 1200px) 100vw, 1200px"> 
In terms of security, Tellor excels with its native token, TRB. This token harmonizes the roles of data reporters, oracle users, and the broader community. Reporters must stake TRB to submit data and earn rewards. However, if their reports are challenged and deemed incorrect, they risk losing their stake. This system incentivizes truthful reporting and ensures robust data integrity through a community-driven dispute mechanism. Thus, Tellor delivers reliable information for networks like Ethereum, Polygon, and Algorand, combining competitive incentives with strong security. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Exploring New Governance Structures: 
 Tellor is open to evolving its governance model as the ecosystem matures. Whether through liquid staking, reputational systems, or other mechanisms, we aim to ensure robust, decentralized decision-making. 
 — Tellor (@WeAreTellor) <a href="https://twitter.com/WeAreTellor/status/1816139376356909196?ref_src=twsrc%5Etfw">July 24, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
In the last 24 hours, TRB has experienced a 2.37% increase in price, now standing at $76.45. This surge is supported by high liquidity, highlighted by a volume-to-market cap ratio of 5.7367. However, caution is warranted, as the 14-day RSI of 72.72 indicates that TRB may be overbought and could face a price correction. Notably, it is currently trading 43.07% above its 200-day SMA of $53.52, showcasing its strong momentum. Moreover, over the past year, Tellor’s price has skyrocketed by an astounding 506%, outperforming 88% of the top 100 crypto assets.&nbsp; 
<h2 id="b-read-more-b">Read More</h2> 
<ul> 
 <li style="font-weight: 400"><a href="https://insidebitcoins.com/news/top-crypto-gainers-today-jul-31-wemix-livepeer-ankr-network-compound">Biggest Crypto Gainers</a></li> 
</ul>

Top Crypto Gainers Today Aug 01 – Decentralized Social, Decred, Centrifuge, Tellor

Table of Contents

Inside Bitcoins

Other articles published on Aug 2, 2024

Ethereum futures open interest hits 19-month high, yet ETH price weakness intensifies

$47.5 million in short positions at risk if XRP hits $0.619 mark

Bitcoin Miner Marathon Digital Reports $199.7 Million Q2 Loss

Polymarket’s $1 billion win – Is ‘Trump vs Harris’ solely responsible?

With Alex Pereira in its Corner, BlockDAG’s Presale Bags $1M Overnight! Plus, SHIB Price Forecast...

Bitcoin Upside Potential Fueled by Political Endorsements

Join our free newsletter for daily crypto updates!