Today’s crypto movers: Bitcoin (↓1.26%), Ethereum (↓1.46%), Kadena (↓7.34%) and Arweave (↑19.83%)

Posted: 16 May 2022 4:20 am
Arweave (AR)

The overall crypto market is down 0.73% in the past 24 hours. Arweave dominated the top 100 cryptocurrencies.

The crypto market staged a slight pullback as Bitcoin returned above the $30,000 during the weekend. The downward momentum is still strong, though.

Overall, the crypto market saw prices change by -0.73%, which is a small move typical for Sunday.

Trading volume over the last 24 hours was 2.23% lower than the recent seven-day average, which shows minimal activity.

Price volatility was 1.7%, meaning prices didn’t fluctuate much.

The two biggest coins: Bitcoin and Ethereum

Bitcoin (BTC) is the biggest coin by market cap and its price changed by -1.26%. Bitcoin now represents 43.5% of the overall market cap of the 250 biggest coins.

Bitcoin moved back above $30,000 during the weekend, but the downward pressure is still strong. We may see it drop below this number again in the days to come.

The second most valuable crypto, Ethereum (ETH), saw its price change by -1.46%. Ethereum’s market cap is 43.19% of Bitcoin’s value.

Similar to Bitcoin, Ether moved back above $2,000. This is a strong price zone that has to hold if we are to see further gains.

Today’s biggest gainers and losers

The coin with the biggest percentage gain (out of the top 100) was Arweave (AR). Its 24 hour increase was 19.83%. The increase means AR is now the 82nd biggest coin with a market cap of US $582 million.

Arweave (AR) is a decentralized storage network that offers a platform for indefinite data storage. It uses a native cryptocurrency, AR, to pay “miners” to store the network’s information.

The recent gain could be due to the seventh installment of the Open Web Foundry Incubator.

The biggest loser in the 100 biggest coins was Kadena (KDA). Its drop over the last day was 7.34%. After the fall, KDA is now the 90th biggest coin with a market cap of US $508 million.

Kadena (KDA) is a proof-of-work (PoW) platform that combines a layer-1 (L1) public chain protocol with a layer-2 (L2) network. This combination provides high throughput while maintaining security and scalability.

The recent loss followed Saturday’s announcement of X-Wallet’s upcoming mobile app.

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