Today’s crypto movers: Bitcoin (↓4.70%), Ethereum (↓6.27%), ApeCoin (↓9.75%%), Waves (↑45.04%)
Bitcoin’s flat, but Shiba Inu’s all that.
A busier day for the crypto market saw a climb in volume and some price gains – plus yet more market activity spurred by Elon Musk.
The overall crypto market saw prices change by 5.34% in the last 24 hours (according to Finder’s crypto weather report, which tracks the top 200 coins.)
Trading volume over the last 24 hours was 31% higher than the recent 7-day average, suggesting some market nervousness is easing. Price volatility across the top 200 was 1.58%,.
The two biggest coins: Bitcoin and Ethereum
Bitcoin is the biggest coin by market cap and its price dropped by 4.70%.
Bitcoin now represents 42.63% of the overall market cap of the 200 biggest coins.
The second most valuable crypto, Ethereum, saw its price change by -6.29%.
Ethereum’s market cap is 34.66% of Bitcoin’s total value.
Today’s biggest gainers and fallers
Big gains happened for Waves (WAVES) up 45.04%; Shiba Inu (SHIB), which rose 18.93%; and Zilliqa (ZIL) which was up 14.99%. (All figures are based on the last 24 hours of trading at time of writing.)
Shiba Inu (SHIB) is a meme coin which likes to describe itself as the “Dogecoin killer”. Despite that, its rise owes a debt of thanks to Dogecoin. Tesla head Elon Musk made yet another comment supporting Dogecoin, sending its price surging too. Shiba Inu’s close correlation with Dogecoin saw it gain as well.
Zilliqa (ZIL) is a public blockchain which uses “sharding” to split the network into smaller parts, making it easier to scale. It’s price climb follows a tweet from Zilliqa showcasing footage from its low poly shooter.
There was no obvious news trigger for Waves’ gains.
The largest drops were for ApeCoin (APE), down 9.75%%; Chainlink (LINK), which fell 7.64%; and Polkadot (DOT) which was down 5.82%.
ApeCoin (APE) is a coin based off the best-known NFT platform, Yuga Labs’ Bored Ape Yacht Club (BAYC). The drop followed the announcement of a new round of NFTs from veteran rock publication Rolling Stone that can only be purchased with ApeCoin.
Trying to get a handle on the markets? Explore strategies for how to trade crypto or see if there's a better platform for you with our guide to the best crypto exchanges.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.