Although cryptocurrencies began yesterday with noticeable declines, they staged an impressive recovery over the past 24 hours.
London-listed companies with strong ties to Russia pushed the UK100 (-2.26%) sharply into the red yesterday. Investors dumped shares in Anglo-Russian miners Polymetal International (-36.07%) and Evraz (-30.28%) in large volumes, making them the index’s worst performers by far.
U.S. markets, however, registered gains. SPX500 (+1.28%), NASDAQ100 (+3.13%) and DJ30 (+0.03%) all climbed higher.
Top Cryptocurrencies
Bitcoin rose more than 10% at the time of writing, and six other top-10 cryptocurrencies recorded gains of 8% or more. The latest rally is partly attributed to sanctions announced by U.S. President Biden targeting Russia, which include restrictions on the use of several major fiat currencies.
Terra is the biggest gainer among the top coins, up 23% today. The rally is supported by news-driven trading after the LUNA pair was listed on Bittrex, among other developments.
Biggest Movers
All top-100 coins are in positive territory. Anchor Protocol stands out with a 23% gain. Fantom rose 15% and Maker is up 19%, reversing yesterday’s heavy losses. Gala also increased by 15%. Amp and Arweave are both up 18%, while Theta Fuel gained 14%.
Neo and Zcash are each up around 13%. Zcash is approaching the $100 level. Convex Finance, yesterday’s largest loser, recovered 17% of its losses today.
Trending
Meme token MetaDogecolony surged 360%. At its core, its DOGECO token is structured as a play-to-earn game. For now, users can try a demo of the game on the team’s site, which features levels from 1 to 30.
Fantom-driven demand is pushing up the price of BOO. BOO is the native token of SpookySwap, an automated market maker (AMM) decentralized exchange (DEX) on the Fantom Opera network.
BOO is up 31% over the past 24 hours. Users can now provide liquidity for the Fantom-Revault trading pair on the DEX.