Today’s crypto movers: Bitcoin (↓0.18%), Ethereum (↓1.01%), Algorand (↓4.84%) and Curve DAO Token (↑5.24%)
The overall crypto market is down 0.53% in the past 24 hours. Curve DAO Token made the biggest gains in the top 250 cryptocurrencies.
The market indecisiveness persists as investors await Fed’s interest rate decision today. This could be the catalyst to move the markets in either direction within the next couple of weeks.
Overall, the crypto market saw prices change by -0.53%, which shows the market is at a standstill.
Trading volume over the last 24 hours was 17% higher than the recent seven-day average, meaning some investors are accumulating at these prices.
Price volatility was 0.91%, which shows mostly flat prices.
The two biggest coins: Bitcoin and Ethereum
Bitcoin (BTC) is the biggest coin by market cap and its price changed by -0.18%. Bitcoin now represents 42.15% of the overall market cap of the 250 biggest coins.
Bitcoin bounced off the $37,500 support price in the past few trading sessions, but failed to make significant gains toward $40,000. The Fed’s rate decision could soon change this.
The second most valuable crypto, Ethereum (ETH), saw its price change by -1.01%. Ethereum’s market cap is 46.78% of Bitcoin’s value.
Ether is also stuck in a narrow price range between $2,750 and $2,850.
Today’s biggest gainers and losers
The coin with the biggest percentage gain (out of the top 250) was Curve DAO Token (CRV). Its 24 hour increase was 5.24%. The increase means CRV is now the 73rd biggest coin with a market cap of US $1.03 billion.
Curve DAO Token (CRV) is a decentralized exchange (DEX) for stablecoins that uses an automated market maker (AMM) to manage liquidity. The CRV token is the in-house token for its decentralized autonomous organization (DAO).
The recent gain follows an EU Commission report on decentralized finance (DeFi), which demonstrated a strong understanding of DeFi’s key advantages.
The biggest loser in the 200 biggest coins was Algorand (ALGO).
Its drop over the last day was 4.84%. After the fall, ALGO is now the 29th biggest coin with a market cap of US $4.5 billion.
Algorand (ALGO) is a proof-of-stake (PoS), decentralized blockchain network supporting many application types. It focuses on fast transactions with low fees.
The recent loss is a normal retracement after the price surged from this week’s announcement of ALGO’s FIFA World Cup partnership.
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