Most of the top 10 cryptocurrencies showed gains over the past 24 hours. The U.S. economy defied expectations in the fourth quarter of 2021 despite a rise in Omicron coronavirus cases.
Yesterday the Commerce Department reported that growth accelerated at an annual rate of 6.9% in the three months ending in December, up from 2.3% in the previous quarter.
Despite the upbeat data, U.S. stocks fell in afternoon trading as investors weighed warnings about rising interest rates alongside the GDP report.
While growth stocks were broadly hit, Netflix (+7.36%) stood out after billionaire investor William Ackman disclosed a $1.1 billion stake in the troubled streaming company.
Top Cryptocurrencies
At the time of writing, Bitcoin was up roughly 3%, Ethereum climbed more than 2%, and five other top-10 cryptocurrencies were also trading higher.
The remaining top-20 coins by market cap were mostly flat, with two notable losers: Terra (-13%) and Cosmos (-9%), both reversing recent gains sharply.
Biggest Movers
Most top-100 tokens gained or lost between 1–4% today. FTX Token rose after reports of lucrative partnerships entered into by its issuer, the rapidly evolving exchange FTX, gaining about 5% on the day.
Gala reversed yesterday’s gains, plunging 10% today and approaching its all-time low. It has lost nearly 70% of its value over the past month.
Convex Finance, a platform that allows users to deposit Curve LP tokens to earn Curve trading fees while boosting CRV and CVX rewards, fell 14% over the last 24 hours.
Bora is climbing back into the top-100 list. It currently ranks at number 86 after an 8% rise today, bringing seven-day gains to about 20%. Apart from Helium (up just under 2%) and a handful of stablecoins, Bora is one of the few tokens in the chart with a positive weekly balance.
Trending
The top performer today is DIFX, the token for Digital Financial Exchange. DIFX is compatible with Ethereum Mainnet and Binance Smart Chain, functioning as an ERC-20/BEP-20 token within a decentralized framework.
Part of DIFX’s surge is tied to speculation around its exchange. DFE positions itself as a fully encrypted cryptocurrency exchange and insured global trading platform. The token jumped approximately 538% today.
Tectonic, a decentralized money market protocol that lets users participate as liquidity providers or borrowers, began rallying after being listed on Crypto.com earlier this month. It also posted solid gains today, adding about 29% in the past 24 hours.