Even though Ethereum is finding it challenging to hold onto the $1,600 level, a number of altcoins have seen impressive gains, with several even surpassing three digits.
Leading the momentum in the last 24 hours are Wayfinder (PROMPT), Magic Internet Money (MIM), and Bitcoin Wizards (WZRD).
Wayfinder has surged by 179.2% in just one day, now trading at $0.5043 after bouncing from a low of $0.1798. The token currently boasts a market cap of $113 million.
This remarkable increase comes on the heels of significant developments for the project. Wayfinder has recently conducted an airdrop, distributing 40% of the total PROMPT supply to eligible users.
This broad distribution was complemented by listings on major exchanges such as Bitget, KuCoin, OKX, Hyperliquid, HTX, and Gate.io, among others.
Furthermore, the token has gained traction on social media, trending prominently on X, which has contributed to its price rise.
In second place on the list of top crypto gainers is MAGIC•INTERNET•MONEY (MIM), which has experienced a 147% increase in the past day, climbing to $0.003587 from a low of $0.00145.
This surge in MIM’s price seems to be directly tied to a recent announcement regarding token migration. The MIM team has initiated a migration plan that allows holders of Bitcoin Wizards (WZRD) tokens to claim MIM until April 15.
This migration strategy has led to a boost in trading activity for both tokens.
Meanwhile, Bitcoin Wizards has also seen an impressive increase of 127.5% in the last 24 hours, rising to $2.50 from $1.09. This token has shown a robust performance over longer periods as well, boasting 100% growth over the week and 96% over the past month.
Developed by the same creators as Mavensbot, WZRD’s notable performance is closely linked to the ongoing token migration.
Both tokens have been actively discussed on social media platforms as users share insights about the migration process.
While these smaller tokens are enjoying substantial rallies, Ethereum (ETH) continues to grapple with downward pressure, struggling to find price stability in recent weeks, even as Bitcoin (BTC) has shown some resilience around $83,000.