On October 2nd, the cryptocurrency market experienced notable gains, with several coins achieving impressive increases in value. According to Phoenix, a leading crypto media outlet, $DEGEN led the pack with a remarkable rise of 106.6%. This dramatic jump has captured the attention of traders and investors alike. This massive surge signals a strong interest in this particular asset.

DAILY GAINERS$DEGEN +106.6% $DORA +45.5% $OMI +22.0% $ORBS +17.8% $W +17.7% $DIA +9.1% $HTM +7.6% $FAR +7.6% $WLKN +7.4% $MASK +6.8%#dailygainers pic.twitter.com/nCPPFV4D6R

— PHOENIX – Crypto News & Analytics (@pnxgrp) October 2, 2024

$DEGEN and $DORA’s Rise Highlights Growing Altcoin Appeal

Right behind it was $DORA, which has risen by 45.5%. This surge shows that people are increasingly interested in investing in altcoins since there is more to investing in cryptocurrencies than in Bitcoin or Ethereum alone. The experience of $DORA may indicate that investors are seeking opportunities in more unconventional projects.

$OMI also rose by 22.0% in value to make its way to headlines. Being a digital asset associated with collectibles, $OMI’s growth signals the revitalization of interest in NFTs and related businesses. The current rising trend of the general public increasing their awareness of digital collectibles could be the reason for this price surge, as more people search for possibilities within the NFT market.

Furthermore, $ORBS increased by 17.8% due to overall optimism about the project and its uses cases. At the same time $W increased by 17.7% more of which contributed to the popular excitement in the stock markets. These movements show that more than one cryptocurrency is on the rise with the participation of small and large investors.

Crypto Market Experiences Notable Gains

Other big risers were $DIA up by 9.1%, Hatom ($HTM) and Farcana ($FAR) both up by 7.6%. These numbers indicate that the market is experiencing a range of positive movement in various coins, $WLKN has risen by 7.4% and $MASK closed the list with a 6.8% rise.

Lastly, taking into consideration the changes reported by Phoenix which happened on October 2nd all the changes are typical for the crypto market’s volatility. Now, while investors are seeking new opportunities, the volatility of prices is becoming more noticeable. While new projects appear and the previously created tokens begin to receive the attention they deserve, the market remains rather diverse and promising for both newcomers and experienced traders. Therefore, it is highly important for traders to observe the tendencies of this sector more often.