Today’s crypto movers: Bitcoin (↑1.55%), Ethereum (↑4.66%), Chiliz (↓4.41%) and Ankr (↑13.33%)

Posted: 25 August 2022 6:41 am
Ankr (ANKR)

The crypto market stalled as investors eye Jackson Hole for guidance.

Market participants have scaled down and await Fed’s Jerome Powell speech at Jackson Hole on Friday.

The overall crypto market saw prices change by 1.86% in the last 24 hours, which continues the move higher from the past two days.

Trading volume over the last 24 hours was 3% lower than the recent 7-day average, meaning investors and traders are standing on the side.

The two biggest coins: Bitcoin and Ethereum

Bitcoin is the biggest coin by market cap and its price changed by 1.55% over the last 24 hours.

Bitcoin trades above $21,000. If the Federal Reserve change their tone on interest rates on Friday, we may see an attempt at $23,000 first and then $25,000. Otherwise, Bitcoin could drop to $20,000 and potentially $19,000 next.

The second most valuable crypto, Ethereum, saw its price change by 4.66%. Ethereum’s market cap is 36.49% of Bitcoin’s total value.

Ether reclaimed $1,700 and it seems it coulda attempt another run at $2,000. However, breaking through this level will likely depend on the Federal Reserve and how the Ethereum Merge unravels in September.

Today’s biggest gainers and losers

Big gains happened for Ankr (ANKR) up 13.33%; Decred (DCR), which rose 10.31%; and Ethereum Classic (ETC) which was up 8.62%. (All figures are based on the last 24 hours of trading at time of writing.)

Ankr (ANKR) provides decentralized infrastructure for Web3 that helps decentralized applications (dApps), stakers and developers use many blockchains. The ANKR token rewards node providers and stakers and pays for blockchain requests.

The recent gain accompanies an update to ANKR staking. The update supports mobile wallet staking and integrates more wallets into the platform.

Decred (DCR) is a blockchain-based cryptocurrency launched in February 2016. It created its token and protocol to facilitate open governance, community interaction and sustainable funding policies.

The recent gain could be due to the new D.R.E.A.M Decred site launch.

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

The price is climbing in anticipation of ETH’s upcoming September Merge. This update may see ETH miners switch to ETC.

The largest drops were for Chiliz (CHZ), down 4.41%; EOS (EOS), which fell 3.09%; and UNUS SED LEO (LEO), which was down 2.64%.

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.

EOS (EOS) is a platform that allows developers to build dApps. It prioritizes ease of use, enterprise flexibility and compliance, consumer security and scalability.

The decline marks a pause in EOS’s recent 55% rally. Anticipation for its significant changes, including inter-blockchain communication (IBC), fueled the bullish trend.

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? 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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