Top Crypto Gainers Today, Feb 13 – CAKE, XCN, Sonic

Highlights:

• Today, Onyxcoin and Sonic are leading the market with strong gains.
• PancakeSwap’s recent rally is driven by staking rewards and cross-chain exchange improvements.
• Onyxcoin consolidates for a potential breakout, while Sonic sees rising TVL and market confidence.

The crypto market is displaying a positive sentiment today as most prices resume their upward trajectories despite the CPI inflation report rising more than unexpected. The overall crypto market cap and 24-hour trading volume surged to $3.18 trillion and $132 billion, respectively. Meanwhile, the fear and greed index has climbed to 40 index, indicating a fear sentiment.

Amidst the bullish sentiment, Bitcoin peaked at $98k, while major altcoins such as BNB recorded significant gains. As the bulls hold the upper hand, let’s take a look at the top crypto gainers today, such as PancakeSwap, Onyxcoin, and Sonic.

Top Crypto Gainers Today

1. PancakeSwap (CAKE)

PancakeSwap has emerged as the top crypto gainer today, surging by 40% in the past 24 hours. CAKE surged from a daily low of $1.92 to $3.18, where it faced a rejection that led to a minor pullback. At press time, CAKE is trading at $2.8 with a market cap and trading volume of $870 million and $1.10 billion, respectively. 

PancakeSwap’s explosive surge has been fueled by its revenue-sharing program in CAKE staking. Since early 2024, the platform has distributed 770,527 CAKE tokens, worth about $1.9 million, to stakers. This incentive has made more investors hold their tokens making the token supply to be scarce and the demand high.

🐰 In 2024, we've distributed 770,527 CAKE (worth ~$1.9M) to $CAKE stakers via weekly revenue sharing!

👉 Stake your CAKE now and earn a share of v3 revenue every week: https://t.co/8Fhw9CFOVX

📚 Learn more about revenue sharing here: https://t.co/IMMIH9No5r pic.twitter.com/f37P3KDMSz

— PancakeSwap (@PancakeSwap) February 12, 2025

Besides staking rewards, PancakeSwap has improved the cross-chain exchange mechanism with its MEV feature. These improvements enhanced more liquidity providers, making its decentralized exchange (DEX) more robust. As a result of these incentives and technical improvements, user activity has increased, solidifying its standing in the DeFi sector.

2. Onyxcoin (XCN)

Onyxcoin has been on a remarkable recently, surging by 860% over the past 30 days. Emerging as the second gainer today, XCN is trading at $0.0245, up by 15% in the past 24 hours. Moreover, its market cap and trading volume have climbed to $823 million and $288 million, respectively. 

Crypto analyst Ali Martinez revealed that the OnyxCoin has gained 2,656% in value since December. As of now, the cryptocurrency is consolidating in a descending triangle pattern, which may indicate a bullish price movement. If this pattern holds, XCN may be preparing for the next leg upward, potentially continuing its impressive rally.

#OnyxCoin $XCN has surged 2,656% since late December and is now consolidating within a descending triangle, potentially gearing up for the next leg up! pic.twitter.com/zSAbLnOK4K

— Ali (@ali_charts) February 12, 2025

3. Sonic (S)

Sonic has embarked on a bullish trend after declining 23% over the past 30 days. The bulls have retraced the price above the $5 key level to trade at $0.539. The altcoin has surged by 13% and 17% on the daily and weekly charts. Additionally, the bullish momentum has pushed the market cap and trading volume to $1.54 billion and $244 million, respectively. 

Sonic’s ecosystem is growing steadily in terms of volume for its bridge and the total value locked (TVL) in its ecosystem. On-chain analyst Haris Ebrat noted the rising capital inflow, highlighting Sonic’s potential as an undervalued asset. If the growth continues, TVL could hit $500 million by next week.

$S Sonic (@SonicLabs) TVL is on the rise again!

At this pace, hitting $500M by the start of next week doesn’t seem unrealistic.

🔷 Bridge volume from other chains is also climbing fast.

Beyond Sonic’s ecosystem being an untapped goldmine, $S is probably one of the most… pic.twitter.com/yBIV3cdPmR

— Haris Ebrat (@HarisEbrat) February 12, 2025

Higher TVL signals strong investor confidence, while increased bridge activity shows broader adoption. Historically, assets with surging TVL and trading volume tend to gain market attention. This momentum could push Sonic’s price into double digits. As cross-chain interactions grow, the ecosystem’s expansion may further drive demand and strengthen its market position.