Over the past 24 hours, the cryptocurrency market has seen little significant movement.
Yesterday the UK100 index fell 1.03% after investors reacted negatively to the UK government’s sanctions targeting Russian oligarchs. Following the sharp decline in Evraz shares, that company could be removed from the UK100 next week.
US markets also fell yesterday after new inflation figures were released, stoking concerns about tighter monetary policy. According to the latest data, annual inflation in the United States reached 7.9%.
Top Cryptocurrencies
Prices for most cryptocurrencies in the top-10 list moved by roughly 1% or less. Avalanche increased by more than 2%, while Polkadot rose about 5%, marking its first notable gain in some time.
Top Movers
Today Stacks is the standout gainer, drawing momentum after crypto exchange Okcoin announced a partnership with this layer-1 blockchain to support the Bitcoin Odyssey initiative.
Okcoin has pledged $165 million to developers and projects building decentralized applications on Bitcoin and Stacks. As a result, Stacks jumped more than 30% today.
Kadena climbed 25% following news of an upcoming listing on Binance. THORChain also added roughly 16% to its value.
Elrond has benefited from several recent successful developments, which have reflected in its price. Over the last 24 hours it rose by around 10%.
Yesterday it was revealed that the network acquired Capital Finance Services, part of the established electronic-money brand Twispay.
After yesterday’s drop, privacy coin Zcash gained 11%. Among the laggards, Arweave fell 9%. Waves lost 5.89% following a prolonged rally, although it still shows a 35% gain for the week.
Trending
FWC is the token of a project called Qatar 2022 Token, which has surged in popularity as the World Cup approaches. Although one FWC is worth only $2.88e-10, it rose 532% in the past 24 hours.