Today’s crypto movers: Bitcoin (↓4.63%), Ethereum (↓4.33%), Near Protocol (↓12.61%%) and 0x (↑8.79%)
The overall crypto market is down 4.12% in the past 24 hours. 0x was the biggest gainer among the top 250 cryptocurrencies.
The crypto market had a rough day, wiping out all gains made the previous day. Bitcoin failed to return above $40,000 and pulled down most altcoins with it.
Overall, the crypto market saw prices change by -4.12%, which means we’re seeing increased selling pressure as Bitcoin trades below $40,000.
Trading volume over the last 24 hours was 21% higher than the recent seven-day average, meaning more leveraged positions were closed as the price dropped.
Price volatility was 1.86%, which shows relatively low price fluctuation.
The two biggest coins: Bitcoin and Ethereum
Bitcoin (BTC) is the biggest coin by market cap and its price changed by -4.63%. Bitcoin now represents 41.25% of the overall market cap of the 250 biggest coins.
Bitcoin rallied back to $40,000 only to drop back down to $37,800 within the next trading session. That’s where a strong price support level lies. A break below opens the way to $35,000.
The second most valuable crypto, Ethereum (ETH), saw its price change by -4.33%. Ethereum’s market cap is 48.15% of Bitcoin’s value.
Similar to Bitcoin, Ether also bounced off its resistance level of $3,000, moving down almost to $2,750. To move higher, Ether has to move back above $3,000 and hold there. Otherwise, we may see the price bounce between $2,750 and $3,000 or move lower to $2,500.
Today’s biggest gainers and losers
The coin with the biggest percentage gain (out of the top 250) was 0x (ZRX). Its 24 hour increase was 8.79%. The increase means ZRX is now the 96th biggest coin with a market cap of US $711 million.
0x (ZRX) is an infrastructure protocol to exchange ERC20 tokens and other assets on the Ethereum blockchain. It enables users to trade without relying on centralized entities. With the ZRX token, users can pay trading fees, take part in governance and stake it for rewards.
The recent gain is from 0x raising $70 million in a Greylock-led Series B round.
The biggest loser in the 200 biggest coins was NEAR Protocol (NEAR). Its drop over the last day was 12.61%. After the fall, NEAR is now the 20th biggest coin with a market cap of US $8.88 billion.
Near Protocol (NEAR) is a layer-1 blockchain designed as a community-run cloud computing platform. It reduces limitations such as slow transaction speeds, low throughput and poor interoperability.
The recent loss follows Monday’s launch of Near Protocol’s stablecoin, USN, on its mainnet.
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