The altcoin market experienced significant movement over the past 24 hours, with Tensora (TORA), Clearpool (CPOOL), and Palu (PALU) capturing trader attention. These tokens saw substantial gains due to new listings, ecosystem developments, and AI-related interest. Tensora surged by 161%, Clearpool climbed 42%, and Palu increased by 61%, marking one of the strongest single-day performances in recent weeks.
Tensora Skyrockets on BSC Mainnet Launch and AI Buzz
Tensora (TORA), a decentralized AI rollup protocol designed to reward users for compute contributions, officially launched on the Binance Smart Chain (BSC) Mainnet on October 20. The token’s rapid price increase, reaching 161% in 24 hours and an impressive 1,604% over the past week, is attributed to growing comparisons with Bittensor (TAO), a prominent cryptocurrency associated with artificial intelligence. Endorsements from influencers, including AltCryptoWhale, further amplified the token's rally.
Despite its substantial growth, analysts caution that Tensora’s relatively low market capitalization of $5 million makes it susceptible to sharp price corrections. Traders are closely monitoring its upcoming CoinGecko listing, which will appear under the name “TensoraL2,” as a potential catalyst for further movement.
Clearpool Gains Institutional Momentum After Upbit Listing
Clearpool (CPOOL) saw a significant surge of 42%, driven by the announcement of its listing on the Upbit exchange and the introduction of PayFi credit pools. These new pools facilitate stablecoin-settled lending between institutional participants. The Clearpool protocol, which offers unsecured credit to trading firms, has already facilitated over $200 million in loans to established entities such as Jane Street.
Market analysts interpret Clearpool's success as a reflection of the expanding trend in real-world assets (RWA), where tokenized credit and stablecoin yield products bridge traditional finance with decentralized finance (DeFi). The forthcoming launch of cpUSD, Clearpool’s own yield-bearing stablecoin, is expected to further enhance institutional demand for its services.
Palu Rides CZ Meme Wave Amid BNB Chain Frenzy
The meme-driven token Palu (PALU) experienced a 60% increase in value, largely influenced by a tweet from Changpeng Zhao (CZ), the former CEO of Binance. This event has reignited enthusiasm within the BNB Chain meme ecosystem, with top wallets increasing their holdings of Palu by 31% within a single day. Palu's remarkable 33,000% gain over the past month highlights the speculative nature of this current rally.
While traders are characterizing this surge as part of the ongoing "BNB meme season," analysts are cautioning about potential volatility. This volatility could arise as large holders, often referred to as whales, strategically rotate their profits among various trending tokens.