Key Points
- StakeLayer’s token value has risen by over 250% despite a 1.5% drop in the overall crypto market cap.
- Thala and Dream Machine Token also saw substantial growth, both increasing by double digits.
Despite the overall downturn in the crypto market, StakeLayer’s token has seen a significant increase in value, rising by more than 250%.
The total crypto market cap has decreased by over 1.5% in the last day, currently standing at $2.17 trillion according to data from CoinMarketCap.
Bitcoin and Ethereum Decline, StakeLayer Rises
Bitcoin (BTC) and Ethereum (ETH) are both experiencing single-digit losses. In contrast, the StakeLayer token has risen by over 250% during the same time frame.
CoinGecko data shows a notable increase in the token’s price, which has helped StakeLayer’s market cap approach $50 million.
The token’s value has risen from a 24-hour low of $0.00344 to a high of $0.001489.
StakeLayer Token Performance
Despite a slight cool-down in the token’s rally, it is currently trading at $0.01299. The token reached a new all-time high today but has since dropped by over 27% from that peak.
The token has become the largest gainer on CoinGecko in the last 24 hours. This could be due to a recent buyback and burn initiative announced by the team.
Growth for Thala and Dream Machine Token
In the same period, Thala (THL) and Dream Machine Token (DMT) have both seen significant growth, with each increasing by double digits.
According to CoinGecko, THL’s price has increased by over 18.5%, and DMT has risen by 20%.
The exact cause of DMT’s price increase is unclear. However, THL’s surge may be linked to the price increase of Aptos (APT), a protocol within the Thala Labs ecosystem.
APT’s recent price increase, rising to a high of $10.27 from a weekly low of $7.87, is likely the main driver of THL’s price surge.
THL has risen by over 71% in the last 30 days, demonstrating a significant surge in the last week with a price high of $0.6354 from a low of $0.4228.