- 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.
Highlighted Crypto News Today:
Aptos (APT) Charts Turn Bullish: Is a $1 Surge Loading?
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Retail investors are not trading cryptocurrencies but stocks? Cryptocurrency market liquidity is moving to the US stock market, AI helps interpret financial reports and boosts confidence
Wintermute's research indicates that retail cryptocurrency funds are flowing heavily into the US stock market, reversing the correlation to become negatively correlated. As liquidity in the crypto market declines, retail investors prefer mature stock markets, aided by generative AI enhancing their investment capabilities. Cryptocurrencies are gradually becoming part of asset allocation.
CryptoCity1h ago
ETH drops 1.36% in 15 minutes: Deteriorating macro sentiment and liquidity crunch trigger spot selling pressure
From 02:45 to 03:00 on March 8, 2026 (UTC), ETH prices fluctuated sharply within the range of 1,936.0 to 1,969.18 USDT. The 15-minute candlestick yield was -1.36%, with an amplitude of 1.68%. The short-term downtrend intensified, market attention significantly increased, trading activity was high, and panic sentiment dominated.
The main driver of this anomaly was the widespread decline in global risk assets and escalating extreme panic sentiment. Major US stock indices experienced a sharp pullback, and the VIX fear index soared to 29.49 (+24.17%), leading to
GateNews3h ago
BTC drops 0.71% in 15 minutes: Weak macro data and miner sell-off resonate, increasing selling pressure
2026-03-08 02:45 to 03:00 (UTC), Bitcoin (BTC) price candlestick data shows a 15-minute return of -0.71%, with the lowest at 66,837.0 USDT and the highest at 67,402.7 USDT, with an amplitude of 0.84%. Short-term volatility has attracted market attention, with on-chain risk signals rising to 0.84, above the historical average, indicating cautious investor sentiment and increased market fluctuations.
The main driver of this anomaly is the US February employment data, which significantly underperformed expectations, with a sharp decrease in new jobs and the unemployment rate rising to 4.4%, combined with the US
GateNews3h ago
The US-Iran conflict enters the second phase: Trump emphasizes "no ground action for now," airstrikes have destroyed over 3,000 targets, Bitcoin drops to 67,000.
Trump stated that the U.S. military currently has no plans to deploy ground troops, mainly conducting airstrikes, and has destroyed over 3,000 Iranian military targets. Market risk aversion has increased, with Bitcoin dropping to $67,000. The fighting continues between both sides, and Iran has vowed to retaliate.
動區BlockTempo4h ago
PEPE faces volatility risk as the threat of a "short squeeze" increases
The memecoin market is experiencing a significant downturn as the total industry capitalization has dropped by 48% over the past year and declined another 6.9% in the most recent month, according to data from CoinMarketCap. Meanwhile, a report from Glassnode indicates that this sector has only grown modestly by 2.2% in the past t
TapChiBitcoin4h ago
