It can be difficult to keep up with the latest trends in the cryptocurrency market, due to this being a very dynamic market that is constantly changing day after day. Trends, narratives, sentiments, and public interest can shift in just a few hours among the hundreds of thousands of different projects.
By embracing a data-driven approach, it’s possible to identify the most trending cryptocurrencies at each different moment. In this context, Finbold looked into the ‘Trending’ index by CoinMarketCap on September 6:
Notably, a given project could be trending for either positive or negative reasons, as this index only measures the most searched and mentioned crypto in the platform, which usually happens when there is meaningful good or bad news about each of them.
OMG Network (OMG)
OMG Network is a non-custodial, layer-2 scaling solution for Ethereum (ETH). It uses a novel technology called MoreViable Plasma to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain.
The network is powered by the OMG utility token, which can be used to pay fees and will eventually be stackable to help secure the network.
OMG is being traded at $0.44 by press time, after an aggressive dump from $0.47, as it ranks as the top trending cryptocurrency on the day.
LYO Credit (LYO)
According to CoinMarketCap:
“The purpose of LYO Credit is to create a token that fits into the LYOPAY ecosystem. LYO Credit tokens can be used to pay commissions and promote a community of users of the platform through currency rewards.”
LYOPAY is a fintech organization that aims to promote the mass adoption of cryptocurrencies by acting as a bridge between the fiat and cryptocurrency worlds in a legal and safe manner. The company has developed an ecosystem of services that includes payment solutions, trading tools, travel booking, and a launchpad for new projects. LYOPAY is compliant with KYC, AML, and GDPR regulations, and its native token, LYO Credit, is based on the Binance Smart Chain protocol.
LYO is the second most-trending cryptocurrency of the day, priced at $0.52 at the time of publication, with a neutral price action in a week.
El Hippo (HIPP)
El Hippo is a meme coin using the image of a hippopotamus. The HIPP token is built on Ethereum, as an ERC20 fungible token, with a total supply of 777 trillion HIPP.
There are no particular reasons for El Hippo to be trending, besides a pump of over 200% in the month, which does not mean much considering that low market-cap meme coins can be extremely volatile.
HIPP currently has only $5 million in market capitalization, with a growing volume of $1.6 million in the last 24 hours.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.