Top 5 Largest Crypto Gainers in Q3 2024

Introduction

Amid the market's decline in Q3, some crypto assets had massive gains above 100%. Their price surges placed them among the top largest crypto gainers of Q3 2024, sparking fresh interest among crypto investors. These crypto assets show that the volatile nature of the crypto landscape does not make it less rewarding. Aside from defying the market trend, these assets have redefined some investors’ trading strategies.

In this article, we will explore these crypto assets and the catalysts behind their price surges.

Overview of The Top Q2 Crypto Gainers

Source: CoinGecko

The crypto market opened on the first day (April 1st, 2024) of the second quarter at $2.8 trillion. On the last day of the second quarter (June 30th, 2024), the total crypto market cap was $2.42 trillion. The data showed that the market declined by over $400B (-14.49%).

Nevertheless, in the heat of the downward market movement, some crypto assets witnessed significant price increases. Below are 5 top crypto gainers in Q2 2024.

1. Brett (99.4%)  
2. Toncoin (40%)
3. Kaspa (37%)
4.  Monero (29%)
5. Pepe (28.6%)

Top Largest Crypto Gainers of Q3 2024

Source: CoinGecko

On July 1st, 2024, the total cryptocurrency market cap was $2.43 trillion. By September 25th, the market cap had dropped slightly to $2.35 trillion, reflecting a decline of $69.6 billion (-2.9%). Despite this bearish trend, several assets saw remarkable price increases. Here are the top five crypto gainers for Q3 2024:

1. Helium (HNT)

Helium is an open-source blockchain network that links IoT (Internet of Things) devices. This technology allows devices to communicate with each other while sending data across various nodes on the network.

Helium nodes are called Hotspots. They depend on LoRaWan (a cloud component protocol layer that controls media access) for their full connectivity and functionality. These Hotspots also provide coverage for the public networks in the Helium system.

The Helium network has more than 25,000 hotspots acting as network nodes, making it one of the biggest networks on LoRaWan.

Source: CoinGecko

Helium traded at $3.46 in the wake of the Q3 of 2024. By the end of Q3, September 26th, 2024, the price of Helium was $7.59. The data shows that Helium had made a notable price surge of 116%.

The major contributing factor to Helium’s price surge was the growth of its mobile subscribers. In July, the number grew to 100,000, a significant milestone for both Helium mobile and Helium ecosystem.

2. SUI (SUI)

SUI is an L1 (Layer One) blockchain built to facilitate developers' creation and deployment of smart contracts. Because of its unique features, SUI is different from other smart contract development blockchain projects.

SUI can handle multiple transactions at once, while other blockchains, including Bitcoin and Ethereum, can only process one transaction at a time.

Furthermore, the SUI Network employs the Move programming language for smart contract development. This programming language makes it easy for smart contract developers to customize assets on the network.

The Move language subjects these assets to strict ownership. Hence, it is almost impossible to duplicate, misuse, or accidentally delete them. The programming language's nature makes it a good option for building DApps (Decentralized Applications).

Any DApp built with the Move programming language will be highly secure and reliable. These features are very vital if you want to secure large value amounts on any blockchain network.

Source: CoinGecko

On the first day of Q3 2024 (July 1st), SUI started trading at $0.83. The cryptocurrency soared to a new height of $1.71 by September 26th, 2024. This price increase showed that SUI had increased significantly by 107% in the last 87 days.

The SUI ecosystem witnessed some events in the first and second quarters of the year that triggered its price increase. Here are some of the events:

• In February, Mysten Labs and the SUI Foundation announced their SUI Basecamp.
• In March 2024, Mysten Labs rolled out Pilotfish, a linear-scaling SUI extension prototype. A month later, SUI entered a partnership with Google Cloud to improve its Web3 innovation.

These events contributed to SUI’s significant price surge in Q3 of 2024. If SUI continues this trajectory, we might see the project reach new highs in the last quarter of 2024.

3. Bittensor (TAO)

Bittensor is a decentralized peer-to-peer network protocol that allows users to deploy, train, and share ML (Machine Learning) models. It also has a marketplace where users can turn ML into products and trade them.

TAO rewards nodes that contribute to the protocol (supplying their valuable machine learning language) using the Proof of Intelligence (POI) consensus mechanism. The POI mechanism is an algorithm that allows nodes to perform unique ML tasks to prove their intelligence.

Source: CoinGecko

Bittensor traded on the first day of July 2024 at $282. By the end of Q3, it made a significant price increase of 96%. The asset was trading at $550 on the 26th of September, 2024.

One trigger that led to Bittensor's significant price increase was the newly launched Greyscale investment trusts for AI projects. $TAO was one of the projects selected. Other projects included Filecoin, Render, Near, and Livepeer.

4. Aave (AAVE)

Aave is a decentralized protocol that allows users to lend and borrow cryptocurrencies. It automates the lending and borrowing processes via smart contracts that govern funds distribution, fee assessments, and collateral handling.

Aave’s overcollateralized loan system makes it safe for lenders. Borrowers must deposit crypto tokens worth more than the amount they intend to borrow. This way, the protocol protects the lenders from loss of funds from loan defaults.

In addition, if the price or value of the crypto collateral drops below a certain threshold, the Aave protocol automatically liquidates the assets to protect lenders’ funds.

Source: CoinGecko

The price of Aave on July 1st, 2024 was $98. Towards the end of the third quarter (September 26th), Aave was trading at $165.69. The difference in price from the first day to the end of Q3 showed a significant price increase of 68.4%.

There were some significant events in the Aave ecosystem that triggered its price increase in Q3 of 2024. In May 2024, Aave announced its plan to roll out its Layer-2 network. The project intended to launch this L2 after implementing its v4 upgrade.

In July, Aave’s founder, Marc Zeller, proposed a fee switch on the network that will allow repurchasing $Aave on the secondary crypto market.

5. Nervos Network (CKB)

Nervos is a modular blockchain built on the Common Knowledge Base (CKB). CKB is a flexible and secure layer one blockchain network that rewards its cryptographic miners using a PoW (Proof-of-Work) consensus mechanism.

The blockchain network can interoperate with sidechains, heterogenous blockchains, and layer 2 blockchain networks. Nervos also allows developers to build protocol-level DApps (Decentralized Applications) on its network.

Source: CoinGecko

Nervos Network's Q3 was pretty good after seeing a 45% price increase between July 1st and September 26th, 2024. Nervous started trading at $0.11 on July 1st, and on September 26th, one $CKB was worth $0.016.

Nervos witnessed a greater portion of its price increase from September 13th, when Upbit announced that it would be launching $CKB pairs in its trading market. Five days later, the price surged to $0.019 before finally settling at $0.016 on September 26th.

Conclusion

In this article, we have explored the top 5 largest crypto gainers of Q3 2024 and their percentage increase from July 1st to the end of September. The data shows the crypto market is recovering after a bearish Q2.

In addition, the data shows that the total market cap went from a 14% decline in Q2 to 2% in Q3 of 2024. A significant 12% increase in the market cap is a huge win for investors, considering the bull run has yet to begin fully.

The surges in crypto prices and the entire crypto market in Q3 of 2024 show that life is coming into the market again. They also indicate fresh interest and that more money is entering the market.

While many speculators believe these periods signal the start of the bull run, it is expedient to keep your eyes glued to the market. These coins’ performances in Q3 of 2024 do not indicate they are good investment options.

Hence, do not take this article as financial advice. It was strictly written for educational purposes. Research crypto assets thoroughly before you buy into any project. Don’t be in a hurry or follow hypes and trends. Invest wisely and only what you can afford to lose.