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 <p class="is-style-lead">The native token of the Elastos ecosystem, ELA, has emerged as the top <a rel="noopener noreferrer nofollow" title="gainer" href="https://thebittimes.com/tag/gainer.html">gainer</a> among the top 500 <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies while a key indicator suggests downward momentum.</p>
 <p>ELA is up 35% in the past 24 hours and is trading at $4.24 at the time of writing. The asset’s market cap rose to $91 million, making it the 384th-largest <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> asset. While daily trading volume of Elastos also recorded a 50% rally, reaching $2.57 million.</p>
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   <img decoding="async" width="1024" height="347" src="https://cdn.thebittimes.com/images/2024/01/02/b54196f1da5b93316e59e74c0782e5fa.webp" alt="Elastos emerges as top gainer among top 500 cryptocurrencies - 1"> 
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   ELA price and RSI – Jan. 2 | Source: Santiment
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 <p>Data shows that over 64% of the spot ELA trading volume comes from Coinbase with the US dollar trading pair.&nbsp;</p>
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 <p>According to data provided by the market intelligence platform Santiment, Elastos could face notable selling pressure as the asset has been recording consecutive declines since reaching a local top of $4.6 on Jan. 2.&nbsp;</p>
 <p>Per Santiment, the Relative Strength Index (RSI) of the ELA token currently stands at 74.7. The RSI indicator suggests the possibility of a further price drop as the asset’s bullish momentum might have been triggered by big players.</p>
 <p>With the recent spike, Elastos registered a 425% price rally over the past year after falling to an all-time low of $0.79 on Jan. 3, 2023. The price hike started in mid-December 2023 after the blockchain developer announced a layer-2 network for Bitcoin (BTC) — calling it “Bitcoin Elastos Layer2” or “BeL2” for short.</p>
 <p>Despite the recent price rally, ELA is still down by 95% from its all-time high of $93.9, which it hit on Feb. 24, 2018.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/elastos-emerges-as-top-gainer-among-top-500-cryptocurrencies-tbt75323.html">https://thebittimes.com/elastos-emerges-as-top-gainer-among-top-500-cryptocurrencies-tbt75323.html</a></p>

Elastos emerges as top gainer among top 500 cryptocurrencies

TheBitTimes

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