- NEAR and PHA secure top spots on the list of trending cryptocurrencies.
- BTC and FAI are in third and fourth spots, respectively.
- Oil and gas prices are likely to impact the crypto market.
Two cryptocurrencies have stolen the spotlight. These are NEAR and PHA, simply by featuring in the top two positions in trending cryptos over 24 hours. They have noted significant gains during the said timeline. Meanwhile, other cryptocurrencies are either struggling or attempting to recover from their recent losses.
NEAR and PHA
Near Protocol (NEAR) tokens are up by 10.59%, and Phala Network (PHA) tokens have gained 38.19%. Thereby securing a spot on the first and second positions of the trending cryptocurrencies in 24 hours. While the filter does take into account multiple factors, their gains come up as the most-talked about factors.
For a quick reference, NEAR and PHA are listed at $1.33 and $0.03697 at the time of writing this article.
It remains to be seen for how long NEAR and PHA can hold on to their spots, given that the list on CoinMarketCap is dynamic.
Cryptocurrencies that Follow
BTC and FAI follow in the third and fourth position, applicable in the same order. Bitcoin tokens, often seen at the top, are likely to reclaim the spot if they are able to reverse the ongoing decline. The flagship crypto continues to hover between $66k and $69k, currently listed at $67,380.18. The value is still up by 1.52% on a daily basis.
Freysa (FAI) has made a massive gain of 120.8% to reach $0.003171. In fact, the hourly gain of FAI has outperformed BTC. The former added 5.89% while the latter jumped by 0.8%. Nevertheless, bitcoins retain the status of being at the center of the discussion every time crypto prices are on the table.
Oil and Gas Prices as Factors
Positions and values of cryptocurrencies on the list are likely to be impacted as oil and gas prices come under pressure. The Strait of Hormuz could be closed at any moment. If so, then shipping costs are projected to surge. Atlantic, Pacific LNG freight rates have already surged by more than 40% to $61,500 a day.
Experts have signalled that the vessel availability throughout March 2026 is questionable in terms of quantity. There could be a strong competition, experts have added, further highlighting that the shipping will remain idle until safe passage is assured.
The situation getting worse could potentially trigger higher inflation, with investors contemplating fund allocation to safer alternatives.
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