Today’s crypto movers: Bitcoin (↓0.54%), Ethereum (↓3.12%), Ethereum Classic (↓7.45%) and Bora (↑12.30%)

Posted: 26 May 2022 3:21 am
Bora (BORA)

The overall crypto market is down 1.35% in the past 24 hours. Bora and the Sandbox gained the most among the top 100 cryptocurrencies by market cap.

The crypto market is still indecisive as Bitcoin continues to trade in a narrow range around the $30,000 price level.

Overall, the crypto market saw prices change by -1.35%, which is a small move, similar to what we’ve seen in the past few weeks.

Trading volume over the last 24 hours was 4.16% lower than the recent seven-day average, meaning market participants are still hesitant to open new positions.

Price volatility was 0.59%, which shows one-sided movement.

The two biggest coins: Bitcoin and Ethereum

Bitcoin (BTC) is the biggest coin by market cap and its price changed by -1.35%. Bitcoin now represents 43.78% of the overall market cap of the 250 biggest coins.

Bitcoin continues to trade around the $30,000 price level as market participants await the next catalyst.

The second most valuable crypto, Ethereum (ETH), saw its price change by -3.12%. Ethereum’s market cap is 41.64% of Bitcoin’s value.

Ether slid below $2,000, eying $1,750 next.

Today’s biggest gainers and losers

The coin with the biggest percentage gain (out of the top 100) was Bora (BORA). Its 24 hour increase was 12.30%. The increase means BORA is now the 99th biggest coin with a market cap of US $386 million.

Bora (BORA) is a decentralized ecosystem for GameFi and applications. It uses its BORA token to buy, sell and trade digital content such as games.

The recent gain has no connection to any news.

The other two top gainers were the Sandbox (SAND) and Celo (CELO). SAND gained 12.17%, while CELO gained 9.14%.

The Sandbox (SAND) is a blockchain-based virtual world. It allows users to create, build, buy and sell digital assets in the form of a game. SAND, its utility token, facilitates transactions on the platform.

Celo (CELO) encourages cryptocurrency adoption with smartphone users, allowing them to use their phone numbers as public keys. Its CELO token facilitates fees and governance.

The biggest loser in the 100 biggest coins was Ethereum Classic (ETC). Its drop over the last day was 7.45%. After the fall, ETC is now the 28th biggest coin with a market cap of US $3.02 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.

There is no news connected to the recent loss. Instead, this is more likely a normal pullback after ETC’s massive gains the day before.

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