[Today's Globally Trending Coins] Tether, PAIN, Ethereum & More

Uk Jin

Summary

Tether attracted investors' attention as it was massively purchased for hedging purposes during the market crash, according to the analysis.
PAIN, as a meme coin, is receiving high interest among investors during market weakness.
Ethereum made it to the top trending coins list despite its struggling price performance, the report stated.

According to the Token Mindshare Top Gainers from Kaito, an AI-based Web3 search platform (Token Mindshare is a metric that quantifies the influence of specific tokens in the virtual asset market), the top 5 virtual asset-related keywords that people are showing the most interest in as of the 10th are Tether (USDT), PAIN, Ethereum (ETH), BankAlcoin (BNKR), and SHELL.

First, Tether, the stablecoin that ranked 1st, is analyzed to have gained its position as investors massively purchased the stablecoin Tether for hedging purposes amid the sharp decline of virtual assets on exchanges today. As of 1:18 PM today, Bitcoin (BTC), the leading virtual asset, is trading at $82,371, down 4.25% from the previous day according to CoinMarketCap.

PAIN, which ranked 2nd, is a meme coin that frequently appears in the top ranks of trending coins whenever the virtual asset market shows weakness. The ticker PAIN means suffering, and it's interpreted that mentions naturally increased as many investors expressed their pain while the virtual asset market showed weakness.

Ethereum took 3rd place. Ethereum continued to struggle today, with its price temporarily falling below $2,000. This is the first time Ethereum has traded below $2,000 since November 2023, about 15 months ago. Currently, it has slightly recovered from its losses and is trading at $2,072, down 5.24% from the previous day.

BankAlcoin ranked 4th. BankAlcoin attracted investors' attention by recording a solo upward trend while the overall virtual asset market was declining today. At the same time, BankAlcoin is trading at $0.00031514 on the MEXC exchange, up 26.10% from the previous day.

Finally, SHELL took 5th place. It attracted investors' attention as Binance exchange announced that it would confiscate all the illicit profits of SHELL's market maker 'Whisper'. Previously, Binance exchange designated GoPlus (GPS) as a cautionary item, reporting that GoPlus's market maker had earned profits through fraudulent activities. Subsequently, Binance conducted an investigation into the market maker and discovered that SHELL was also using the same market maker, leading to this measure.

Besides these, investors also showed interest in Pudgy Penguin (PENGU), GoPlus, REKT, DeFi App, and Base today.