Today’s crypto movers: Bitcoin (↓1.28%), Ethereum (↓2.29%), EOS (↓4.49%) and UNUS SED LEO (↑7.51%)

Posted: 1 September 2022 7:12 am
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UNUS SED LEO (LEO)

The crypto market trades sideways as investors await a new catalyst.

The crypto market stalled with Bitcoin holding steady at $20,000.

The overall crypto market saw prices change by -1.52% in the last 24 hours, which is a similar move to the previous few days.

Trading volume over the last 24 hours was 13% lower than the recent 7-day average, meaning market participants are standing on the sidelines for now.

The two biggest coins: Bitcoin and Ethereum

Bitcoin is the biggest coin by market cap and its price changed by -1.28% over the last 24 hours.

Bitcoin trades at $20,000 for five consecutive trading sessions. A break below opens the way toward $18,500. Otherwise, we could see another attempt at $23,000 soon.

The second most valuable crypto, Ethereum, saw its price change by -2.29%. Ethereum’s market cap is 36.49% of Bitcoin’s total value.

Ether holds above $1,500. There is a strong resistance level at this price, meaning a strong catalyst is needed to push the price higher. One such catalyst could be the Ethereum 2.0 Merge due in two weeks.

Today’s biggest gainers and losers

Big gains happened for UNUS SED LEO (LEO) up 7.51%; eCash (XEC), which rose 5.21%; and Chiliz (CHZ) which was up 4.82%. (All figures are based on the last 24 hours of trading at time of writing.)

UNUS SED LEO (LEO) is a utility token for the iFinex ecosystem. It allows Bitfinex users to save money on trading fees. The recent gain could be due to Kyle Roche withdrawing from lawsuits against Tether and Bitfinex after the Crypto Leaks scandal.

eCash (XEC) is a rebranded version of the Bitcoin and Bitcoin Cash fork, Bitcoin Cash ABC (BCHA). Its token serves as electronic cash to pay for goods and services. The price climbed as Bitcoin ABC released version 0.25.13. Bitcoin ABC provides software and infrastructure for XEC.

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 rally accompanies an announcement that Socios extended its partnership with the Argentine Football Association (AFA) to at least 2026.

The largest drops were for EOS (EOS), down 4.49%; Elrond (EGLD), which fell 4.20%; and ApeCoin (APE), which was down 3.66%.

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 loss follows the release of contract developer toolkit (CDT) v3.0.0-rc3.

Elrond (EGLD) is a blockchain protocol that uses sharding to offer fast transaction speeds. It uses its EGLD token for staking, rewarding validators and paying transaction fees.

ApeCoin (APE is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club (BAYC). The token facilitates the APE Foundation’s APE ecosystem.

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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