The overall cryptocurrency market was mixed today, with the majority of the top 20 tokens posting modest losses. Bitcoin recovered during Asian trading hours, helping many other cryptocurrencies to climb. At the time of writing, Bitcoin traded just under $42,000.
Top Cryptos
Most cryptocurrencies moved within a +/- 1–3% range. All of the top 10 remain essentially flat. NEAR Protocol, ranked 18th, reversed recent gains and fell roughly 4% today.
Biggest Movers
Similar trends were seen beyond the top 20. Privacy coins showed strength: Monero is a notable example, rising about 6% over the past 24 hours. EOS also gained, up 8%, while Theta Network’s THETA added 6% to its value.
CAKE, the native token of the PancakeSwap exchange and automated market maker, climbed 10%. One possible driver of its rise is the ongoing PancakeSwap and BSC Easter campaign, in which the two platforms are distributing $15,000 in rewards.
Zilliqa, the first public blockchain to fully rely on a sharded network design, gained 9% today.
The biggest winner among the top 100 was 0x’s token ZRX, which surged 52% after announcing a partnership with leading exchange Coinbase to power Coinbase’s new social NFT marketplace.
Kava is trending upward as the Kava 10 mainnet upgrade approaches; the upgrade is scheduled to launch on May 10. Kava added 15% to its price today.
Synthetix, a decentralized finance protocol that offers on-chain exposure to a wide range of crypto and non-crypto assets, ranked #100 and recorded gains of 7% over the last 24 hours.
The largest decliners included Loopring (-7%), STEPN’s GMT (-6%) and ApeCoin (-9%), which all retraced some of their recent rallies.
Trending
It was a strong day for dog-themed meme coins. Dogelon Mars jumped 50% following reports of a potential listing on Binance, a move that was also supported by Bitcoin’s price recovery.
Another meme token, Shiba Rewards, soared 229% today. Its creators say the project was conceived in response to frustration with many new tokens that impose very high taxes, with a large share of proceeds going to developers rather than investors.
The SHREW token was designed as a low-tax reward token, featuring a 0% buy and transfer tax.