Today’s crypto movers: Bitcoin (↓3.10%), Ethereum (↓3.15%), Luna (↓6.24%), KNC (↑13.14%)
The overall crypto market is down 2% in the past 24 hours. Kyber Network Crystal V2 (KNC) was the biggest winner with a 13% gain.
The crypto market saw a minor pullback after two days of price recovery. In the past three days, the prices moved in a narrow range, which may end soon.
Overall, the crypto market saw prices change by -2.26%, this is a small move similar to what we saw in the past three days.
Trading volume over the last 24 hours was 1% higher than the recent seven-day average.
Price volatility was 1.71%, which means we didn’t see huge price swings.
The two biggest coins: Bitcoin and Ethereum
Bitcoin (BTC) is the biggest coin by market cap and its price changed by -3.10%. Bitcoin now represents 40.79% of the overall market cap of the 250 biggest coins.
After two days trading above $40,000 and recovering from the recent drop, Bitcoin hit a resistance at $41,000 and pulled back again. The low volatility and the slight volume increase could mean we’re about to see a decisive move in either direction in the days to come.
The second most valuable crypto, Ethereum (ETH), saw its price change by -3.15%. Ethereum’s market cap is 48.15% of Bitcoin’s value.
Ether struggles to hold above $3,000, which is a strong support zone for this cryptocurrency. Similar to Bitcoin, Ether seems to be consolidating before a large move.
Today’s biggest gainers and losers
The coin with the biggest percentage gain (out of the top 250) was Kyber Network Crystal V2 (KNC). Its 24-hour increase was 13.14%. The increase means KNC is now the 94th biggest coin with a market cap of US $770 million.
Kyber Network Crystal V2 (KNC) is a protocol hub that aggregates liquidity to provide secure and instant transactions on any decentralized application (dApp). It allows decentralized finance (DeFi) dApps, decentralized exchanges (DEXs) and other users easy access to liquidity pools that provide the best rates.
The recent gain could be due to Binance Futures’ Thursday listing of coin-margined KNC perpetual contracts.
The biggest loser in the 200 biggest coins was Terra (LUNA). Its drop over the last day was 6.24%. After the fall, LUNA is now the 9th biggest coin with a market cap of US $29.38 billion.
Terra (LUNA) is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. Terra’s native token LUNA is used to stabilize the price of the protocol’s stablecoins and to submit and vote on governance proposals.
The recent loss came with the news of Terraform Labs giving $820 million in LUNA tokens to the Luna Foundation Guard (LFG).
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