Today’s market movers: Bitcoin, Ethereum, Synthetix Network Token and TitanSwap
The overall crypto market is down by 10% in the last 24 hours. But TitanSwap (TITAN) has outperformed all cryptocurrencies, gaining 64%.
After Bitcoin moved to a year-to-date breakeven point at $48,000, it pulled back to $45,000. This consolidation pulled down most altcoins with it.
Overall, the crypto market saw prices change by -10.7%, which is very cold. (According to Finder’s crypto weather report, which updates every day at 2 am Eastern Time, and is based on the top 200 coins.)
Trading volume yesterday was 105.21% of the recent 7-day average, which our weather report considers thunder.
Price volatility was 2.86%, which is a strong breeze.
Of the top 10 tokens, 1 gained in value while of the top 200, 18 gained in value.
Of the top 200 tokens, the average change in price was -4.6%.
Today’s biggest gainers and losers
The coin with the biggest percentage gain (out of the top 250) was TitanSwap (TITAN). Its 24 hour increase was 64.36%.
The increase means TITAN is now the 230th biggest coin with a market cap of US $0.3 billion.
The reason why this particular coin made the largest gain is that TITAN will soon be listed on Bithumb and Kucoin. Typically, a cryptocurrency sees a boost in price when it’s being listed on a large crypto exchange.
The biggest loser in the 250 biggest coins was Synthetix Network Token (SNX). Its change over the last day was -13.08%.
After the fall, SNX is now the 96th biggest coin with a market cap of US $1.31 billion.
The two biggest coins: Bitcoin and Ethereum
Bitcoin is the biggest coin by market cap and its price changed by -2.93%.
Bitcoin now represents 40.44% of the overall market cap of the 250 biggest coins.
Bitcoin’s fall coincides with the EU parliament vote on outlawing anonymous crypto transactions as well as aggressive profit-taking after breaching the $45,000 price level.
The second most valuable crypto, Ethereum, saw its price change by -4.77%.
Ethereum’s market cap is 46.85 % of Bitcoin’s value.
There are no negative news that caused ETH price to drop. In fact, Ether has way more positive news coming with the Ethereum 2.0 upgrade in the coming months.
It’s been hard for cryptocurrencies to decouple from Bitcoin; wherever Bitcoin goes, altcoins follow.
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