CryptocurrencyDeFiNewsPrice Analysis

KIMCHI Records Massive %117 Surge In 24 Hours

Despite the general volatility that has pushed several top digital assets down, the market has been able to respond in a good way. With Bitcoin spending so much today in a slight drop zone, it did not rub off on most mid- and low-cap tokens. But while that is something notable, a look at CoinMarketCap has shown that some coins have been performing well in the last 24 hours.

Top of the coins is which has recorded a massive 300% jump in the last 24 hours to upset the odds. A recent look into the Q1 performance of the crypto sector showed that the entire crypto market has been doing well, and this recent Kimchi move is something worthy of note.

KIMCHI sees a 117% rise

Backing this analysis up with a record that was gotten off CoinMarketCap, the token is now up about 117%. While CoinMarketCap has little to show about the massive movement in the price of the coin, a look at other crypto exchanges is telling a different story.

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While the digital assets boast of a profit figure close to 120% on CoinMarketCap, most crypto exchanges show that the digital asset has seen a massive 300% rise in the last 24 hours. Another disturbing but seemingly good news is that a few others show that the digital asset has recorded a profit of about 1000%.

Even though this can be attributed to other factors, it is worthy of note that this asset has posted a figure that even Bitcoin, the king of cryptocurrencies, has never posted. As of this moment, the asset is still rising, with its trading volume in the last 24 hours seeing an uptick to place around $3,827,979.

KIMCHI now ranks at 342 on CoinMarketCap

With the price of the asset seeing the big boost, it has moved from the previous price of $0.043 that it traded in the last 24 hours. Also, the market cap of the digital asset has seen a major boost, as expected. It is now boasting a remarkable figure of around $132,797,245 after seeing a surge of 120%.

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With the boost affecting the price of the digital asset all around, KIMCHI has also grown in its ranking on CoinMarketCap, displacing most of the coins and tokens that were previously ahead of it to stay at 342 at the time of writing. While it looks like the market is centered around KIMCHI, it is safe to say that most of the tokens in the sector are presently seeing a massive rise.

According to analysts, trader activities have been known to trigger the bulls, pushing the price of the asset towards the sky. Despite KIMCHI shining bright and stealing the news at this moment, we don’t know what will follow this strong price surge of the asset.

Adebayo Owotunse (Nigeria)

Adebayo Owotunse is a versatile writer who has written hundreds of crypto articles for dozens of agencies across the years. He is now also the newest addition to the Tokenhell writers team.

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