Today’s crypto movers: Bitcoin (↑1.55%), Ethereum (↓0.16%), Klaytn (↓4.68%) and Ethereum Classic (↑14.64%)

Posted: 25 May 2022 5:43 am
News
Ethereum Classic (ETC)

The overall crypto market is up 0.83% in the past 24 hours. Ethereum Classic outperformed Ethereum and all the other 100 cryptocurrencies by market cap.

The crypto market is still undecided as Bitcoin holds $30,000 and fails to move convincingly in either direction.

Overall, the crypto market saw prices change by 0.83%, which is a move similar to what we’ve been seeing in the past two weeks.

Trading volume over the last 24 hours was 1% higher than the recent seven-day average, meaning traders and investors are mostly standing on the side.

Price volatility was 0.59%, which shows minimal price fluctuation.

The two biggest coins: Bitcoin and Ethereum

Bitcoin (BTC) is the biggest coin by market cap and its price changed by 1.55%. Bitcoin now represents 43.67% of the overall market cap of the 250 biggest coins.

Bitcoin trades around the $30,000 price level while traders and investors wait for the next catalyst to move the price.

The second most valuable crypto, Ethereum (ETH), saw its price change by -0.16%. Ethereum’s market cap is 42.23% of Bitcoin’s value.

Ether is trading close to the strong price level of $2,000. So far neither bulls no bears have had the upper hand.

Today’s biggest gainers and losers

The coin with the biggest percentage gain (out of the top 100) was Ethereum Classic (ETC). Its 24 hour increase was 14.64%. The increase means ETC is now the 27th biggest coin with a market cap of US $3.26 billion.

Ethereum Classic (ETC) is a legacy chain created by forking Ethereum after its major 2016 hack. It preserves the original Ethereum blockchain without countering its past decentralized autonomous organization (DAO) hack.

The recent gain has no connection to any news.

Two other top performers were Kava (KAVA) and TRON (TRX). KAVA gained 13.58%, while TRX is up 6.42%.

Kava (KAVA) is a layer-1 (L1) blockchain that combines the speed and interoperability of Cosmos with the developer power of Ethereum. It uses the KAVA token for governance, utility, staking and delegation.

Tron (TRX) is a decentralized blockchain-based operating system launched by the Tron Foundation in 2017. It supports smart contracts and decentralized applications (dApps).

The biggest loser in the 100 biggest coins was Klaytn (KLAY). Its drop over the last day was 4.68%. After the fall, KLAY is now the 45th biggest coin with a market cap of US $1.29 billion.

Klaytn (KLAY) is a public blockchain focused on the metaverse, GameFi and creator economy. It launched in 2019 and has its base in Singapore. The KLAY token is the native digital asset that fuels and secures the Klaytn protocol.

The recent loss follows a rally on speculation that Andre Cronje, a well-known developer, would return to development on FTM.

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