The crypto market declined this morning, with most of the top 10 cryptocurrencies posting losses over the past 24 hours.
UK stocks closed higher yesterday. However, Russian companies such as Gazprom, oil company Lukoil, natural gas firms and major bank Sberbank struggled on the London market; the bank’s shares were trading at pennies as investors moved to exit European exposure.
US markets finished higher yesterday, supported by Federal Reserve Chair Jerome Powell’s remarks regarding an upcoming interest-rate decision. Powell backed a 25 basis point rate hike, ending widespread speculation of a larger increase.
Markets may react later today to the ISM Services PMI, scheduled for release at 15:00 GMT.
Top Cryptocurrencies
Bitcoin fell by less than 1%, trading above $43,000 at the time of writing. Ethereum and Cardano both declined around 2%, while XRP showed a small gain. Outside the top 10, Cosmos rose roughly 7%.
Top Movers
Gains and losses in the top 100 cryptocurrencies mostly ranged between +/- 2–4% today. Fantom and Harmony each dropped about 6%, while THORChain continued its upward trend, gaining another 6%.
Aave lost nearly 7% of its value in the past 24 hours.
The biggest gainer of the day was Anchor Protocol, which rose after news of profitable partnerships such as a collaboration with 777s Casino to build the first betting platform on Terra; its value increased 24% today.
OKB, the digital token issued by the OK Blockchain Foundation and top exchange OKEx, climbed 12% today. Convex Finance, meanwhile, experienced a 15% decline as it attempts to recover.
Trending
Liquity, a lending protocol on Ethereum, surged after launching an improved contract that allows users to withdraw LUSD (the protocol’s USD-pegged stablecoin) and immediately redeposit into a new contract for faster rebalancing. This update contributed to a 36% increase in liquidity value today.
Moonbeam’s live price today is $2.92 with a 24-hour trading volume of $177.5 million, up 15% and positioning the token to challenge the $3 level.