Today’s crypto movers: Bitcoin (↑10.26%), Ethereum (↑12.13%), SNX (↑ 45.65.%)
A mild resurgence in the market for some coins.
Rises for Bitcoin and Ethereum and big gains for some lesser-known coins were highlights as the US market looks to reactivate after the Juneteenth public holiday saw largely flat activity.
Instability remains a challenge. The decentralized autonomous organization (DAO) governing Solend, a Solana-based lending protocol, overturned an earlier vote that would have allowed it to access a huge wallet that contains over 95% of the protocol’s tokens. That move has been welcomed by supporters, but the fact the vote nearly proceeded highlights how goals in the crypto market can vary widely.
The two biggest coins: Bitcoin and Ethereum
Bitcoin is the biggest coin by market cap and its price rose by 5.42% over the last 24 hours.
Bitcoin now represents 42.08% of the overall market cap of the 200 biggest coins, according to Finder’s Cryptocurrency Weather Report.
The second most valuable crypto, Ethereum, saw its price rise by 7.07%.
Ethereum’s market cap is 32.94% of Bitcoin’s value.
While the prices are up for both, they will need to gain a lot more ground to catch up on the declines of recent weeks.
Today’s biggest gainers and fallers
Big gains were seen for Synthetix (SNX) up 45.65%; Storj (STORJ), which rose 30.35%;and 1inch Network (1INCH), which was up 25.56%
Synthetix (SNX) is a decentralized finance (DeFi) protocol giving on-chain exposure to crypto and non-crypto assets. It provides “synths” to track and deliver asset returns without requiring users to hold the underlying asset.
The recent gain follows SNX’s collaboration with Curve Finance, a liquidity provider.
1inch’s gain is also likely to be linked to SNX’s rise, with 1Inch integrating with SNX.
Storj (STORJ) is an open-source cloud storage platform where a decentralized network of nodes hosts data secured with advanced encryption.
There were minor drops for Helium (HNT), down 2.14%, and Zcash (ZEC), which fell 2.04%.
Helium is a decentralized blockchain network for Internet of Things (IoT) devices. Market observers attributed the fall to Binance recently adding HNT cross-margin pairs.
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