Bitcoin slid toward $81,000 overnight and dragged almost the entire market down with it. Ethereum lost 3.4 percent and settled at $2,387, and most altcoins repeated the same script. Three tokens, however, spent those twenty-four hours moving in the opposite direction — as if they missed the memo that the market was bleeding. Akedo, Magma Finance and Gitcoin posted double-digit gains (and one triple-digit move in relative terms) on a night when most portfolios looked like a parking lot after a brawl.
Akedo (AKE) — up 32 percent and the largest market cap among the day’s gainers
What is Akedo?
Akedo is gaming infrastructure that grew out of a project building mobile games with AI-generated content. The platform rests on the idea that users create small games themselves and distribute them through an ecosystem where the AKE token serves as payment, reward and governance instrument. Instead of one studio making one game, Akedo tried to build a game factory — and, as usual, everything hinged on whether anyone would actually use that factory. With a market cap of $715 million and a rank of 89 on CoinGecko, this is the largest project among today’s winners.
Why is it rising?
The 31.99 percent move came after the price briefly dropped to $0.0212 and then climbed back to $0.0314 within a few hours. That is a textbook short squeeze: the token was loaded with short positions, one larger buy was enough to trigger a chain of stop-losses, and the rest did the work. Volume of $41.8 million against a $715 million market cap suggests concentrated, aggressive trading rather than broad accumulation. Akedo remains 78.6 percent below its all-time high of $0.1466, set earlier this year, so every move like this should be read as a recovery, not a new trend.
Magma Finance (MAGMA) — the biggest jump of the day, 56 percent
What is Magma Finance?
Magma Finance is a DeFi protocol focused on liquidity management and automated yield strategies. The project builds a layer between user capital and several chains — the premise being that users should not have to pick where their money works hardest, because the protocol does it for them, with the MAGMA token acting as incentive and governance instrument. The model is familiar: the more liquidity a protocol attracts, the more valuable the token looks on paper, and real value depends on how much of that liquidity stays once the incentives dry up.
Why is it rising?
Magma climbed from $0.312 to $0.503, with a daily high of $0.554 — a 56.12 percent gain and the best performance among the top 500 coins. Volume reached $45.2 million, nearly half the market cap, a sign that both fresh money and rotation out of other DeFi names were at play. Magma is still 37.7 percent below its ATH of $0.808, but unlike Akedo this is not merely a technical bounce: protocols that suddenly multiply their volume usually have a concrete catalyst — a new pool, an emissions change, a partnership. Absent confirmation in official channels, the fact remains that a $95 million market cap is extremely sensitive to a handful of large orders on a day like this.
Gitcoin (GTC) — up 23 percent on volume three times its market cap
What is Gitcoin?
Gitcoin is one of the oldest projects in public funding for open-source software. Through quadratic funding and grants, Gitcoin has spent years acting as a bridge between developers without a budget and communities willing to pay. The GTC token arrived later, as a governance instrument for decisions on how funds are allocated. Within crypto, Gitcoin is something like a local cooperative: nobody gets rich overnight, but the system works and has a genuine purpose.
Why is it rising?
GTC jumped from $0.253 to $0.324, a 23.04 percent gain, and volume of $85.5 million came in at three times the entire $28.1 million market cap. That ratio is rare and almost always means one thing: someone traded seriously, rather than the market collectively discovering the value of open-source grants. Price also broke through the daily high recorded just hours earlier, which points to buying at market. GTC is still 98.5 percent below its 2021 ATH of $22.37 — a reminder of how far tokens from the previous cycle sit from their best days. Yet on a day when Bitcoin falls, a 23 percent gain on a $28 million market cap is enough to top the leaderboard.
What this says about the market
All three winners share one trait: small to mid-sized, with market caps between $28 million and $715 million, all rising on volume disproportionate to their size. This is not a broad market rally; it is a selective game on a few names while Bitcoin bleeds 3.2 percent. Historically, days like this arrive in two versions: either the start of rotation into altcoins, or a brief flight of capital from large positions into something that moves faster. The difference only becomes visible a week later.
Financial data
| Akedo (AKE) | Price: $0.031389 | 24h: +31.99% | MCap: $715.35M | 24h vol: $41.84M | Circulating: 22.80B AKE | Total supply: 100B | ATH: $0.146656 (−78.6%) | ATL: $0.00017407 (Jul 10, 2026) |
| Magma Finance (MAGMA) | Price: $0.503297 | 24h: +56.12% | MCap: $95.63M | 24h vol: $45.22M | Circulating: 190M MAGMA | Total supply: 1B | ATH: $0.808239 (−37.7%) | ATL: $0.069712 (Apr 2, 2026) |
| Gitcoin (GTC) | Price: $0.324387 | 24h: +23.04% | MCap: $28.11M | 24h vol: $85.52M | Circulating: 87.49M GTC | Total supply: 100M | ATH: $22.37 (−98.6%) | ATL: $0.064334 (Jul 1, 2026) |
| Reference | BTC: $81,328 (−3.25%) | ETH: $2,386.76 (−3.41%) | BTC ATH: $126,080 (−35.5%) |
Source: CoinGecko, October 23, 2026, 00:00 UTC. Price and volume data change hour to hour. This article is not investment advice and does not constitute a recommendation to buy or sell any of the tokens mentioned.
📉 How did the rest of the market fare? See the Daily Losers.