In a surprising turn amidst a sluggish market, StakeLayer has experienced a remarkable surge of over 250%, alongside significant gains by Thala and Dream Machine Token.
The overall cryptocurrency market cap has seen a decline of more than 1.5% in the past 24 hours, currently positioning it at $2.17 trillion.
While major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are facing minor losses, StakeLayer’s token has enjoyed a substantial increase of over 250% during this period.
StakeLayer’s Market Cap Approaches $50 Million
Recent data highlights compelling price movements for StakeLayer’s token within the cross-chain staking and restaking platform. It rallied from a 24-hour low of $0.00344 to an impressive high of $0.001489.
As of the latest reports, the token is trading at $0.01299, following a notable all-time high achieved earlier today, although it has retraced by over 27% from that peak.
StakeLayer’s token has emerged as the top gainer in the last 24 hours, driven by a strategic buyback and burn initiative announced by the development team, contributing to its significant price rise.
Thala and Dream Machine Token Experience Double-Digit Gains
In parallel, both Thala (THL) and Dream Machine Token (DMT) recorded impressive double-digit increases. Data indicates that THL has risen by over 18.5%, while DMT has surged by 20%.
Although the factors influencing DMT’s price increase remain uncertain, the rise in THL can be linked to the bullish momentum of Aptos (APT). Thala Labs facilitates borrowing, lending, trading, staking, and validating APT within its ecosystem.
The recent price rise of APT, which spiked to $10.27 from a weekly low of $7.87, has likely fueled THL’s momentum, with the token gaining over 71% in the past month.
Over the last week, THL demonstrated notable strength, climbing from a low of $0.4228 to a high of $0.6354.
