Today’s crypto movers: Bitcoin (↓1.31%), Ethereum (↓0.15%), Quant (↓5.63%) and Chiliz (↑18.80%)

Posted: 23 August 2022 3:55 am
Chiliz (CHZ)

The crypto market stalls as stocks have their worst day in months.

Bitcoin kept most cryptocurrencies stable as it held its major support level of $21,000.

The overall crypto market saw prices change by -0.67% in the last 24 hours, which is a similar move to the past few days.

Trading volume over the last 24 hours was 22% higher than the recent 7-day average, meaning more positions were closed as the crypto market pulled back.

The two biggest coins: Bitcoin and Ethereum

Bitcoin is the biggest coin by market cap and its price changed by -1.31% over the last 24 hours.

Bitcoin held its support price level at $21,000. This means we could see a bounce and potentially reclaim $23,000 in the coming days.

The second most valuable crypto, Ethereum, saw its price change by -0.15%. Ethereum’s market cap is 36.49% of Bitcoin’s total value.

Ether trades around $1,550. If the price holds, we could see an attempt to reclaim $1,750 and eventually $2,000 as the Merge date approaches.

Today’s biggest gainers and losers

Big gains happened for Chiliz (CHZ) up 18.80%; EOS (EOS), which rose 16.47%; and Curve DAO Token (CRV) which was up 8.59%. (All figures are based on the last 24 hours of trading at time of writing.)

Chiliz (CHZ) operates Socios, a blockchain-based entertainment and sports platform. With CHZ tokens, users can buy fan tokens for sports clubs and vote on jersey design, team match-ups and other team decisions. The recent gain follows CHZ’s CEO tweeting hints about CHZ 2.0 and a CHZ-20 token standard.

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 price climbs ahead of next week’s Yield+ launch, which aims to incentivize decentralized finance (DeFi) dApps on EOS.

Curve DAO Token (CRV) is a stablecoin decentralized exchange (DEX) that uses an automated market maker (AMM) to manage liquidity. CRV is the in-house token for its decentralized autonomous organization (DAO).

The largest drops were for Quant (QNT), down 5.63%; Hedera (HBAR), which fell 4.23%; and Helium (HNT), which was down 3.31%.

Quant (QNT) is an operating system that different blockchains use to interoperate with one another. Its QNT utility token acts as a license key for the ecosystem. It also pays fees and costs for using or creating multi-chain applications (MApps).

Hedera (HBAR) is a distributed ledger network that uses hashgraph technology and serves as a platform for dApps. Its HBAR token powers its services and secures its network. The price dropped as Hash Axis added HIP-336 token allowance-based re-listings. These allow swapping HBAR NFTs without escrow.

Helium (HNT) is a decentralized blockchain network for Internet of Things (IoT) devices. Its mainnet allows low-powered wireless devices to communicate and send data.

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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