• The top 3 trending cryptocurrencies in the last 24 hours according to CoinMarketCap are Arbitrum (ARB), PancakeSwap (CAKE), and Ethereum (ETH).
• ARB experienced a massive sell-off after its airdrop, causing its price to crash terribly.
• Despite heightened US government regulation, Bitcoin and Ethereum have been doing well and the number of profitable Ethereum addresses has increased to approximately 64 million.
The cryptocurrency market is currently experiencing positive momentum after having recovered from a dismal spell that lasted throughout February. According to CoinMarketCap, the three most trending cryptocurrencies in the last 24 hours are Arbitrum (ARB), PancakeSwap (CAKE), and Ethereum (ETH).
The buzz around the Arbitrum (ARB) airdrop created much attention for the native governance token ARB. Unfortunately, due to a massive sell-off after the airdrop, the price crashed terribly. Additionally, it has been reported that hackers used vanity addresses to steal $500,000 worth of tokens from the layer-2 scaling solution Arbitrum’s March 23rd airdrop. According to CMC, the current price of ARB is $1.27 USD with a 24-hour trading volume of $1,645,717,128 USD. The currency has seen an overall decrease of 3.99% in the past 24 hours and 89% in 7 days.
PancakeSwap (CAKE) is one of the leading decentralized cryptocurrency exchanges running on BNB Chain since 2022. It recently released a new proposal for creating Syrup Pool in collaboration with Ternoa which is layer 1 blockchain infrastructure built with NFT adoption in mind. CAKE tokens may be staked for CAPS tokens on Pancake Swap according to brief provided by them. According to CMC data today’s price stands at $3.71 USD with 24-hour trading volume of $45,299,776 USD which is an increase by 0.81% over past 24 hours..
Data indicates Ethereum investors have made money after series of price increases since start of 2021 as per Glassnode analytics business reports that number of profitable Ethereum addresses now stands at approximately 64 million which is highest level recorded for over one year period when ETH dropped below $1,200 last year allowing investors opportunity buy more cryptocurrency at lower prices then before..
Due heightened US government regulations Bitcoin and Ethereum have been performing well despite recent bearish market trends whereas Altcoins like ARB faced sell off after its Airdrop causing it lose value drastically over past 7 days . Overall crypto market seems optimistic about future prospects as number profitable wallets increasing steadily .