The cryptocurrency market opened nearly flat this morning, with most of the top 10 coins posting only small gains or losses over the past 24 hours.
All three major U.S. indices rose yesterday as concerns over further central bank rate hikes eased. The S&P 500 climbed 1.32%, the Dow Jones Industrial Average gained 0.71%, and the NASDAQ 100 advanced 1.98%.
Before markets open, Twitter is due to report its fourth-quarter results today. Analysts expect revenue to be roughly 8% lower year-on-year. Changes to how data is processed on Apple devices have strained the platform’s primary revenue source—advertising—placing additional pressure on the company.
Twitter is exploring crypto-related initiatives, including NFTs, but those plans may provide little comfort to investors in the near term.
In the U.K., the FTSE 100 rose 1.06% in yesterday’s trading after reports that the government aims to lift all Covid restrictions by the end of February. Travel and leisure stocks performed strongly.
Top Cryptocurrencies
Bitcoin was trading above $43,000 at the time of writing, up less than 1% over the past 24 hours. Ethereum gained roughly 3%, while Cardano and Solana logged modest gains. XRP showed a slight decline.
Outside the top 10, Shiba Inu rose around 4%. Crypto.com’s CRO surged about 7%, attempting to recover from recent declines.
Top Movers
Ethereum Classic has steadily gained value since the last week of January 2022. It was up 7% over 24 hours and continued to show upward momentum at the time of writing. Theta Network and its utility token Theta Fuel both rose about 10% today as network activity strengthened.
Kadena, a scalable layer-1 PoW blockchain that supports Pact—the smart contract language recognized for strong security—climbed 11% in 24 hours.
Chiliz, the Malta-based fintech’s digital currency focused on sports and entertainment, had been largely inactive for some time but jumped 7% today.
Arweave and Waves both surged about 10% today. The biggest gainer among the top 100 was Secret, which added roughly 11% to its value.
Qtum is recovering as its circulating supply approaches a cap; it rose about 6% today.
UNUS SED LEO reversed earlier impressive gains and fell sharply after Bitfinex announced compensation plans for investors who lost funds in the 2016 LEO token hack. LEO lost about 11% of its value today.
Trends
Bonfida was one of the top performers in the Solana ecosystem and the broader market on February 10. Its native token, FIDA, gained nearly 60% in value. The project recently partnered with Burnt Finance to address verification issues and has seen listings on several major exchanges.
Libero has surged for several reasons. With a market capitalization approaching $50 million and a whale dump totalling $405,000 today, total token holdings now exceed $1 million. Libero rose 34% over 24 hours.
Alchemy Pay traded at $0.057 and climbed about 13% today. Its creators describe the solution as a payment gateway aimed at bridging the gap between fiat and the cryptocurrency economy.