Not only Dogecoin (DOGE) has skyrocketed because of the news that Elon Musk changed the Twitter logo to a Doge image, according to Pintu market, there are 5 crypto assets that are also among the top movers up to 16% as of April 5, 2023.
These crypto assets include Reserve Rights (RSR), Lido DAO (LDO), Frax Share (FXS), Curve Finance (CRV), and Optimism (OP). What are the factors behind the increase in the price of these 5 crypto assets? Check out the full news below!
1. Reserve Rights (RSR)
door market ssr price
Price Reserve Right (RSR) 24 Hours. Source: Door Market
Quoted from Pintu Market, Reserve Rights (RSR) is included in the first top movers crypto asset which rose to 16.13% within 24 hours as of April 5 2023. This price increase made RSR touch its highest price at IDR 73. So, why did the RSR price go up today?
Following the launch of Reserve Rights on the Ethereum (ETH) mainnet, the full capabilities of the protocol will be enabled, including the ability for anyone to create stablecoins backed by ERC-20 tokens.
As well as being fully guaranteed, stablecoins on the protocol (RToken) can be insured as a way to help protect against collateral devaluation. RTokens can also generate revenue for their holders, which is an incentive for RSR holders to stake their RSR on certain RTokens.
2. Lido DAO (LDO)
price ldo market door
Price of Lido DAO (LDO) 24 Hours. Source: Door Market
Quoted from Pintu Market, Lido DAO (LDO) has experienced a significant increase of up to 15.05% within 24 hours. This increase made LDO touch its highest price of IDR 42,049 as of April 5, 2023. Why do you think the price of LDO went up today?
As reported by BeInCrypto, Ethereum liquid staking platform, Lido, announced a major upgrade in early February 2023. Momentum continues to grow for Lido liquid staking as more ETH is added to the platform.
Lido currently has 5.1 million ETH staked, which is equivalent to $8.7 billion. Moreover, it represents about 30.5% of the total amount of ETH staked.
3. Frax Shares (FXS)
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Price Frax Share (FXS) 24 Hours. Source: Door Market Quoted from Pintu Market, Frax Share (FXS) has experienced a significant price increase of up to 11.62% within 24 hours. This increase made FXS touch its highest price at IDR 148,252 as of April 5, 2023. What caused the price of FXS to increase today?
lsd frax share
Source: Cryptoem Twitter account
Reporting from Crypto.News, the growth in Frax Shares can be attributed to an increase in interest in liquid staking (LSD) derivatives in the past. One Twitter user named Crypthoem who focuses on crypto, shared a tweet discussing this.
“Frax has a unique advantage in that they have CVX, which allows them to offer deep liquidity. LSDs can be considered as leveraged staking on ETH as they increase the market share of ETH being staked. LSD continues to show how strong they are in this market and want to continue to grow,” he wrote.
4. Curve Finance (CRV)
door crv market price
Price Curve Finance (CRV) 24 Hours. Source: Door Market
According to Pintu Market, Curve Finance (CRV) has experienced a significant price increase of up to 11.49% within 24 hours. This increase made CRV touch its highest price at Rp. 15,444 as of April 5, 2023. What caused the price of CRV to increase today?
Reporting from Coindesk, stablecoin Curve (CRV) has experienced a significant increase in recent days. This is because there is more demand in the market for decentralized stablecoins.
Curve doesn’t have its own stablecoin yet, but the upcoming Curve USD (crvUSD) token is highly anticipated in the crypto world. Curve first notified the public of its plans to use the dollar-pegged asset in June 2022.
This development is likely to be the catalyst for traders as demand for CRV increases.
5. Optimism (OP)
price of door market optimism
Price of Optimism (OP) 24 Hours. Source: Door Market
Quoted from Pintu Market, Optimism (OP) has experienced a significant price increase of up to 11.40% within 24 hours. This increase made OP touch its highest price at IDR 35,524 as of April 5, 2023. What caused OP’s price to increase today?
As reported by Coindesk, Optimism has proposed upgrading the mainnet to improve performance and functionality, accelerating the rally in OP governance tokens. “The Optimism Foundation is proud to propose the first protocol upgrade for the Optimism Collective: Bedrock,” reads the proposal submitted at the governance forum.
Bedrock is a rollup architecture developed by Optimism. Rollup enables the grouping and issuance of hundreds of transactions within a single mainnet block. In other words, they compress multiple transactions into one, which speeds up the blockchain.