Cryptos look bleak, Buffett invests in crypto-friendly bank

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Cryptos look bleak, Buffett invests in crypto-friendly bank

After two days of gains, almost all top 20 cryptos were in the red this morning, registering minor losses.  Despite having once called cryptocurrency “rat poison”, Warren Buffet’s Berkshire Hathaway recently invested $1 billion in Nubank, a Brazil-based crypto-friendly bank.

Oil showed volatility over the past 24 hours, rising to $93 before plunging below $89, and then rising above $91.

Minutes of the January FOMC meeting indicate officials are willing to tighten monetary policy faster in response to soaring inflation. Investors now expect a rate hike in March, with a 0.5% rise likely.

Top cryptos

All top 20 cryptos except Shiba Inu and some stablecoins were in the red. Solana posted the biggest loss down almost 3%, followed by Ethereum down 2%, while XRP, Cardano and BNB were all down between 1-2% over the past 24 hours. Bitcoin was trading at $43,166 at time of writing.

Top movers

Most top 100 coins lost 2-5% of their value today. Arweave leads the list of losers with -8%. Gala and IoTeX are each down -7%. Axie Infinity and The Sandbox lost around -6%.

There are three standout gainers today: Cosmos and Nexo (both with +5%) and Dash (+6%). 

Dash hadn’t shown any price movement in some time. The crypto focuses on fast, cheap global payments based on a decentralized network. It seeks to improve upon Bitcoin by providing stronger privacy and faster transactions.  

After recording spectacular gains yesterday, Rally is down -16% today. However, its gains over the past 7 days keep it firmly in the green: +28%.           

Trending

Shoppi Coin is the biggest gainer of lesser-known tokens. It is the token of the Shoppi network, which claims it is “transforming the travel industry, making it easier than ever to shop in every city.” The coin is up 282% today.

Tornado Cash is trading for just under $50 and gained 51% in the last 24 h. Mirror Protocol, a synthetic assets protocol running on the Terra blockchain, added almost a fifth to its value today. 

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