As the broader crypto market continues to remain trapped in the ongoing downtrend, some assets have gained the limelight due to their outstanding performance. Today, data from Phoenix Group highlighted top assets that are in the accumulation zone, pointed out by assets’ performance and key metrics. The accumulation phase means that active investors are accumulating the assets, attracted by current price levels and enthusiastic by their market potential.
Top assets in accumulation zone
Sonic (S)
Sonic is at the top position, with its market valuation of $1.8 billion and a price growth of 20.10% over the past 24 hours. The altcoin has been consolidating, forming what is called a “robust accumulation zone” since early last month. In other words, the asset has been developing and maintaining buying pressure, with traders accumulating the asset at current prices with the expectation of a breakout. With heightened on-chain activity, rising adoption, and increased investor interest, Sonic is poised to break out from its current range and rise to new heights.
Compound (COMP)
Compound took the second position with a market capitalization of $397.1 million and a price rise of 2.20% over the past 24 hours. The asset has been trading within a major accumulation zone, signaling a looming bullish breakout. The altcoin has been facing increased buying pressure, with its price up 2.2% and 10.8% over the past seven days and two weeks ago, respectively. A potential breakout from this accumulation zone could contribute to a massive price surge soon.
Gnosis (GNO)
Gnosis settled on the third place with a market capitalization of $340.4 million and a price surge of 5.29% noted over 24 hours ago. Its price has been up 5.9% and 8.9% over the past seven days and two weeks ago respectively, showing buyers overpowered sellers. This highlights rising users’ confidence in the asset, as whales and investors buying the dip and setting the stage for higher price growth.
AIOZ Network (AIOZ)
AIOZ Network clinched the fourth position, with a market valuation of $309.7 million and a price rise of 2.56% in the last 24 hours, highlighting its immediate uptrend movement. Its price has been up 4.9% and 15.2% over the past seven days and two weeks ago respectively, confirming its impressive buying trend over the past two weeks. This persistent growth showcases a strong foundation for bullish market sentiment and investor interest.
LayerZero (ZRO)
LayerZero took the fifth position with a market capitalization of 309.7 million and a price growth of 22.21% in the past 24 hours. Its value has been up 19.45% and 67.2% over the past seven days and two weeks ago, respectively, indicating continued accumulation momentum pushed by market interest.
Others
Other crypto assets that are also in accumulation phase include Golem, Theta Fuel, Space ID, Nervos Network, and Alchemy Pay. Golem (GLM) occupied the six place with a market cap of $290 million and a positive price growth of 1.8% and 8.9% over the past seven days and two weeks ago respectively.
Theta Fuel (TFUEL) secured the seventh spot with a market of $274 million and a price rise of 10.6% over the past two weeks. Space ID (ID) followed with a market cap of $249 million and a 28.5% price surge over two weeks ago. Lastly, Nervos Network (CKB) and Alchemy Pay (ACH) recorded two weeks’ price increases of 17.1% and 17.8% respectively, showcasing their heightened demand and strong market participation.
