Top Crypto Gainers Today, February 19 – INJ, WLFI, SKY

Highlights:

• Injective’s rally follows a community buyback and major protocol upgrade.
• World Liberty Financial’s partnership with Apex Group has boosted the token’s value.
• SKY shows market consolidation but risks a potential decline if it fails to break the $0.067 resistance.

The crypto market today has been defined by heightened volatility after the Fed saw a split on rate cuts and hikes during their January monetary policy meeting. Bitcoin tumbled, dropping below $67K, leading the broader decline in the market. As a result, both the total market capitalization and 24-hour trading volume have declined to $2.31 trillion and $82 billion. 

Meanwhile, the fear and greed index is still holding in the “extreme fear” zone at 11 levels. However, some tokens have shown resilience by showing positive movements to defy the overall market downturn. In this article, we will discuss the top crypto gainers today, such as Injective, World Liberty Financial, and Sky.

Top Crypto Gainers Today

1. Injective (INJ)

Injective has led the pack for the top crypto gainers today with a surge of 7%. INJ’s price witnessed a sharp rise from $2.98 to $3.57, where it faced a rejection, leading to a pullback. As of this writing, INJ is exchanging hands at around $3.33 with a market capitalization of $340 million.

INJ’s rally has been attributed to the ongoing development in the ecosystem. Injective has completed its 26th Community Buyback, with approximately 54,999 INJ tokens being burned. The buyback, which is funded by a portion of the protocol revenue, causes positive sentiment among investors, often resulting in speculative buying.

Moreover, the Injective Mainnet Upgrade proposal (IIP-619) was approved, marking a major milestone. The upgrade will scale Injective’s real-time EVM architecture and enhance its next-gen payment capabilities. The upgrade will go live on February 19 at 23:00 UTC +8.

2. World Liberty Financial (WLFI)

World Liberty Financial has extended its upward rally on the weekly chart with a gain of 4% over the last 24 hours. Currently, the price is hovering around $0.117. Moreover, the 24-hour trading volume is up by more than 100% to $470 million.

The World Liberty Forum kicked off on Wednesday at Mar-a-Lago in Palm Beach, Florida. An exclusive event sponsored by the crypto project of the Trump family unites more than 300 international market leaders, including U.S. senators. The meeting is set to see a number of key announcements, including the latest one involving the Apex Group teaming with World Liberty Financial.

The partnership will pilot WLFI’s USD1 stablecoin as a payment system for the Apex tokenized fund ecosystem. The companies also intend to list WLFI tokenized assets on the Digital Market Infrastructure of the London Stock Exchange Group. WLFI will also create a mobile application that connects bank accounts to digital asset wallets, where end users can access these tokenized holdings.

3. SKY

SKY is consolidating around the $0.06500 region as bulls take the lead. The altcoin is up by 3.65% and 2.20% on the daily and weekly charts, respectively. Its market capitalization has climbed to $1.50 billion despite the minor decline in the trading volume to $22 million.

SKY is testing a major horizontal level around $0.065 following a massive rejection at the $0.070 and $0.072 level. The decline below the short-term rising trendline indicates a change in the market momentum. The recent bounce from the $0.060 and $0.061 area appears to be more of a correction than an impulse, whereby an additional downward trend might occur.

As long as the price stays below the $0.067 mark, another rejection is the preferred market structure, and the price may fall to the $0.060 support. Should the price reclaim $0.068, it would nullify the bearish perspective and possibly trigger a rebound towards $0.070 and $0.072.