Today’s crypto movers: Bitcoin (↑1.43%), Ethereum (↑3.40%), Ethereum Classic (↓1.32%) and EOS (↑30.12%)

Posted: 17 August 2022 5:02 am
News
EOS (EOS)

The crypto market moved higher as Bitcoin tried to reclaim a major price level.

Bitcoin pulled most cryptocurrencies higher as it tried to push through $25,000 once again.

The overall crypto market saw prices change by 1.96% in the last 24 hours, which is a larger move compared to the past few days.

Trading volume over the last 24 hours was 6% lower than the recent 7-day average, meaning market participants are waiting for another catalyst.

The two biggest coins: Bitcoin and Ethereum

Bitcoin is the biggest coin by market cap and its price changed by 1.43% over the last 24 hours.

Bitcoin made another attempt at $25,000. A break of this price level requires a strong catalyst to push the price. BTC’s price support level now stands at $23,000.

The second most valuable crypto, Ethereum, saw its price change by 3.40%. Ethereum’s market cap is 36.49% of Bitcoin’s total value.

Ether still trades around $1,900. If it holds, we could see another attempt at $2,000.

Today’s biggest gainers and losers

Big gains happened for EOS (EOS) up 30.12%; Tezos (XTZ), which rose 10.46%; and Dogecoin (DOGE) which was up 8.84%. (All figures are based on the last 24 hours of trading at time of writing.)

EOS (EOS) is a platform that allows developers to build decentralized apps (dApps). It prioritizes ease of use, enterprise flexibility and compliance, consumer security and scalability. The recent gain accompanies a marketing push ahead of EOS’s rebrand and hard fork.

Tezos (XTZ) is a blockchain network built on smart contracts. It designed its network to evolve without the danger of a hard fork. It uses its XTZ token for dApp interaction and staking to secure the network.

Dogecoin (DOGE) is based on the famous doge internet meme and features a Shiba Inu on its logo. Tesla CEO Elon Musk posted several tweets on social media indicating that Dogecoin is his favorite coin.

The largest drops were for Ethereum Classic (ETC), down 1.32%; Chiliz (CHZ), which fell 1.06%; and Lido DAO (LDO), which was down 0.81%.

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

Chiliz (CHZ) operates Socios, a blockchain-based entertainment and sports platform. Users buy fan tokens for sports clubs with CHZ tokens and use these to vote on jersey design, team match-ups and other team decisions.

Lido DAO (LDO) provides liquid staking for Ethereum, which allows staking while participating in on-chain activities. It uses its LDO token to vote on protocol parameters and to govern the treasury.

Trying to get a handle on the markets? Cut through the noise with our overview of the best cryptos to buy right now, explore some 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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