Today’s market movers: Bitcoin, Ethereum, Multichan and Biswap
The overall crypto market is down 22% in the past 24 hours. Biswap (BSW) was the biggest winner with a 14% gain.
The crypto market continued lower in the past 24 hours, mostly driven by expectations that the Federal Reserve will tighten monetary policy this year, more aggressively than previously thought.
Overall, the crypto market saw prices change by 22.08%, which is very hot. (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 119.44% of the recent 7-day average, which is sunny.
Price volatility was 8.9%, which is a hurricane.
Of the top 10 tokens, 1 gained in value while of the top 200, 20 gained in value.
Of the top 200 tokens, the average change in price was -4.71%
Today’s biggest gainers and losers
The coin with the biggest percentage gain (out of the top 250) was Biswap (BSW). Its 24-hour increase was 14.95%.
The increase means BSW is now the 215th biggest coin with a market cap of US $0.32 billion.
The reason why this cryptocurrency made the highest gains is that tomorrow Binance will add a new $BSW pair for trading: BSW/ETH.
The biggest loser in the 250 biggest coins was Multichain (MULTI). Its change over the last day was -21.43%.
After the fall, multi is now the 221st biggest coin with a market cap of US $0.31 billion.
The two biggest coins: Bitcoin and Ethereum
Bitcoin is the biggest coin by market cap and its price changed by -4.02%. Bitcoin now represents 40.43 % of the overall market cap of the 250 biggest coins.
Last week, Bitcoin made a huge move to push through a strong resistance price level of $45,000. A set of news, profit-taking and the increasingly hawkish stance of the Federal Reserve have cause the price of Bitcoin to dip below $45,000 once again.
The second most valuable crypto, Ethereum, saw its price change by -3.64 %. Ethereum’s market cap is 46.96 % of Bitcoin’s value.
Ethereum as well as most altcoins still mirror Bitcoin’s moves. Whether ETH tries to make new highs will likely depend on what Bitcoin does next.
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