In the vast world of cryptocurrencies, there are always some hidden gems that tend to explode in value, catching the attention of investors and enthusiasts. One such under-the-radar altcoin that has experienced an astronomical surge in recent weeks is GAS, the utility token for the NEO platform.
Over the past two weeks, GAS has seen an unprecedented surge of more than 711%. This exponential growth has been attributed to a couple of key factors, including new perpetual contract listings and a favorable crypto market environment. As of the time of writing, GAS is trading at $23.14, marking a significant increase from its price of $2.85 just two weeks ago. This tremendous growth has catapulted GAS to the 138th rank among crypto assets by market capitalization.
In the last 24 hours alone, GAS has seen a staggering 45% increase in its value. Furthermore, over the past week, the altcoin has soared by more than 272%, showcasing its rapid ascent in the market. The surge in GAS’s value can be attributed to the recent listings of perpetual contracts by prominent exchanges, such as BitMEX and Demex. These contracts offer up to 10x leverage and are margined in the top stablecoin USDT, providing traders with increased liquidity and the potential for higher returns.
The NEO blockchain, which utilizes both GAS and NEO, the project’s governance token, has garnered attention as well. However, while NEO has also experienced a surge in value, it has not reached the same level of gains as GAS. Currently ranked 56th among crypto assets, NEO is trading at $12.66, reflecting a 62% increase in value over the past two weeks.
It’s worth noting that the overall crypto market cap has seen a 12% increase in the same period, indicating a generally bullish sentiment in the market. This favorable environment, coupled with the new offerings in trading perpetual contracts for GAS, has contributed to the significant growth of the altcoin.
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At The Daily Hodl, we aim to provide valuable insights and information to our readers. However, it’s important to note that the opinions expressed here are not investment advice. We strongly advise investors to conduct thorough due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. As with any investment, there are inherent risks, and it’s crucial to be aware of these risks before making any decisions.
In conclusion, the recent surge in the value of GAS, propelled by new perpetual contract listings and a buoyant crypto market, has captured the attention of many in the industry. As the cryptocurrency market continues to evolve and expand, it’s crucial to stay informed and educated to make well-informed investment decisions. Subscribe to our email list, follow us on social media, and stay connected to The Daily Hodl for the latest news, insights, and updates.
