The cryptosphere is currently witnessing a shift in market dynamics, as numerous projects move into their accumulation phase. This data has been brought to light by Phoenix Group, a renowned analytics firm. NEAR Protocol, Polygon, and OKB are reported as the leading crypto projects transitioning into their accumulation phase. Phoenix Group released the list of these projects on its official social media platform.
NEAR Protocol ($NEAR) is leading the pack of prominent crypto projects entering this phase. It features at the top of Phoenix Group’s list, boasting a market capitalization that has hit $5.42 billion. However, it has experienced a price dip of -9.95% over the past week. Next in line is Polygon ($POL), with a market cap of $3.51 billion, despite an -8.80% change in price over the week.
OKB holds the third position. Its current market capitalization stands at $3.22 billion, having endured a -10.10% weekly slump in price. Jupiter ($JUP) follows closely in fourth place, having seen an impressive 34.05% surge in its price over the week, and its market capitalization now stands at $2.02 billion. Bonk ($BONK) occupies the fifth position, with a market cap of approximately $2.01 billion and a 7-day price change of -9.27%.
Further down the list, Floki ($FLOKI) ranks sixth, with a -9.30% weekly price change and a market cap of $1.21 billion. NEO ($NEO) follows in seventh place, with a market capitalization of $950.86 million, despite a weekly performance dip of -9.30%. AIOZ Network ($AIOZ) is the eighth crypto project moving into its accumulation phase, with a market cap of $893.30 million.
Axie Infinity ($AXS) is in ninth place, with a market cap of $860.14 million. Reserve Rights ($RSR) rounds off the list, holding a market cap of roughly $719.24 million.
This shift into the accumulation phase signifies an important moment for these crypto projects. It represents a time when investors, seeing potential for future profits, begin to accumulate a particular asset, thereby driving up its price. The current trend observed by Phoenix Group paints a picture of the evolving dynamics within the crypto market, highlighting the potential for growth and investment opportunities.
Conclusively, this data offers a valuable insight for investors and the wider crypto community, helping them keep abreast of market shifts and identify promising projects poised for future growth.
