Crypto Market Update: JEFF and HUMAN Protocol Surge, Ethereum Struggles Below $3,700

In the past 24 hours, the cryptocurrency market has seen some notable price movements, particularly with JEFF and Human Protocol (HMT), while Ethereum (ETH) remains relatively stagnant below the $3,700 mark.

JEFF Coin: A Meteoric Rise of 280%

JEFF, a meme coin created to honor the founder of HyperliquidX (Jeff), has seen an incredible surge, with a 280% price increase. Over the past week, the coin has risen by over 1200%, hitting a market cap of $52.3 million.

This massive rally can be attributed to the success of the HYPE token airdrop, which has gained attention for its fair distribution without venture capital involvement. The hype surrounding this airdrop has helped drive the price of JEFF higher.

Human Protocol (HMT) Gains 140%

Human Protocol (HMT) has experienced a surge of 140% in the last 24 hours, rising from a low of $0.03966 to a high of $0.1167, before retracing slightly. Over the past 7 days, HMT has increased by more than 450%, bringing its market cap to $72 million.

The recent success of HMT is largely tied to the release of the new Human App 2.0, which introduced improved architecture, better performance and stability, and new UI features and identity verification. These updates have helped boost the project’s visibility and market position.

Ethereum (ETH): Struggles Below $3,700

Ethereum (ETH), after briefly reaching the $3,700 level, has stalled below it, trading at $3,692 at press time. Despite a 3.5% increase yesterday, ETH remains relatively subdued compared to the explosive rallies seen in other tokens like JEFF and HMT.

The slow price action for Ethereum reflects a broader market trend, with Bitcoin (BTC) and ETH not experiencing major upward momentum in the last 24 hours.

Other Notable Gainers

Empyreal (EMP), a lesser-known coin, also saw a significant price increase of 86% in the past 24 hours, bringing its value up by over 310% in the last 30 days. This surge comes on the heels of the release of SIMMI, the first token in the Simulacrum ecosystem. SIMMI serves as the official AI agent for the platform, contributing to the recent price boost for EMP.

Summary of the Market Activity

• JEFF and Human Protocol (HMT) have been the standout performers in the market, seeing triple-digit gains driven by specific catalysts like airdrops and platform upgrades.
• Ethereum, while still showing some positive movement, remains stuck just below the $3,700 mark, struggling to gain significant traction compared to some altcoins.
• Empyreal (EMP) also stands out with a strong price surge, supported by the introduction of its new AI-based token SIMMI.

Overall, JEFF and HMT are leading the charge in terms of percentage growth, driven by community-driven events and app upgrades, while Ethereum’s price action continues to be more muted as it waits for further developments.