Cryptos plummet, US market swings on war alert

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Cryptos plummet, US market swings on war alert

The crypto markets were in the red this morning, with the majority of top 10 cryptos registering losses over the past 24 hours. 

US market swung wildly last week as investors digested warnings of higher rates and a possible war between Russia and Ukraine. It was a mixed week for big-name tech firms, with Apple (+4.88%) and Microsoft (+4.13%) finishing last week higher.

The UK100 slid 0.68% last week as markets continued their volatile start to the year.

Top cryptos

Bitcoin was down around 3%, still trading above $37,000 at time of writing. Ethereum was around 3% lower, while Cardano and XRP registered losses of around 4% and 5% respectively. Solana and Polkadot are down by around 6%. Avalanche has lost 8% in the last 24 h.

Terra continues with its major losses. It has shed 10% of its value today and 26% in the last 7 days.

Top movers

Most top 100 coins lost between 4% and 7% today. Fantom is down 9% and Harmony (ONE) has lost around 8% of its value. Still, ONE is a token to watch this week. It has been trading between $0.16 and $0.36. 

The price has rebounded off the support and the bulls will now attempt to push the ONE/USDT trading pair above $0.19. ONE is currently trading for $0.17, but could go up to $0.28 by the end of the week.

Kusama and Secret are both down 9%. Convex Finance, which showed spectacular gains last week, has lost 8% today.  Kadena lost 10% in the last 24 h. Waves and IoTeX have shed 11% of their value.

RenderToken (RNDR), a distributed GPU rendering network built on top of the Ethereum blockchain, is a standout today. It aims to connect artists and studios in need of GPU compute power with mining partners willing to rent their GPU capabilities out. 

At #100, it is one of today’s bigger losers with -9%. However, it gained 61% over the past seven days, which makes it the biggest winner of the week.

OMG Network has gained 4% today. Formerly known as OmiseGo, OMG is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. It’s one of the biggest gainers over the past 7 days, during which it added 27% to its value.

Maker (MKR), the governance token of the MakerDAO and Maker Protocol, is another one of the few cryptos in the green today. It gained almost 4% in the last 24 h. Arweave added 2% to its value.

Trending

CryptoTycoon is a gaming platform based on BSC (Binance Smart Chain). Players can spend BNB, BUSD and other BSC-based tokens in the game to participate in game yield farming.

The game system has a great token deflation mechanism and dividend bonus model, reflected in its price growth of 231% in the last 24 h.  

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