Today’s crypto movers: Bitcoin (↑6.20%), Ethereum (↑10.33%), UNUS SED LEO (↓2.35%) and Convex Finance (↑20.38%)

Posted: 5 July 2022 3:46 am
Convex Finance (CVX)

The crypto market moved higher as Bitcoin reclaimed $20,000.

The crypto market saw a small relief rally as Bitcoin pushed back above $20,000.

The overall crypto market saw prices change by 5.96% in the last 24 hours, which is a huge move compared to the previous 10 days.

Trading volume over the last 24 hours was 54% higher than the recent 7-day average, which means market participants bought in at the support level.

Price volatility was 1.59%, meaning prices didn’t fluctuate much.

The two biggest coins: Bitcoin and Ethereum

Bitcoin is the biggest coin by market cap and its price changed by 6.20% over the last 24 hours.

Bitcoin hovered at $19,000 for a few days before finally moving back above $20,000. BTC must hold this level if we are to see another move higher.

The second most valuable crypto, Ethereum, saw its price change by 10.33%. Ethereum’s market cap is 36.49% of Bitcoin’s total value.

Ether aims at $1,200 now after holding above $1,000 for a few weeks.

Today’s biggest gainers and losers

Big gains happened for Convex Finance (CVX) up 20.38%; STEPN (GMT), which rose 18.00%; and Enjin Coin (ENJ) which was up 17.02%. (All figures are based on the last 24 hours of trading at time of writing.)

Convex Finance (CVX) is an influential decentralized finance (DeFi) protocol helping Curve liquidity providers boost rewards. Its sole use case is to accumulate as much total locked value (TVL) as possible, helping it control a significant stake in Curve Finance.

STEPN (GMT) is a lifestyle app with fun social elements and gamification design. Users with NFT sneakers walk, jog or run outdoors to earn GST, another STEPN-associated token. They can trade these earnings for USD Coin (USDC) or Solana (SOL) or use them to level up and mint new NFT sneakers to lease or sell.

Enjin Coin (ENJ) provides an ecosystem of interconnected, blockchain-based gaming products. It uses its ENJ token to buy, sell and trade NFTs.

The largest drop was for UNUS SED LEO (LEO), down 2.35%.

UNUS SED LEO (LEO) is a utility token for the iFinex ecosystem. It allows Bitfinex users to save money on trading fees.

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.

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