Today’s crypto movers: Bitcoin (↑2.51%), Ethereum (↑7.71%), Decred (↓1.35%), Quant (↑27.27%)
The crypto market continues to rally, with Bitcoin and Ethereum bouncing back from losses earlier this week.
Bitcoin is rising back toward the $21,000 level and both BTC and Ethereum have erased most of the losses posted early this week as cryptocurrencies continue in rally mode.
The overall crypto market saw prices change by 6.55% in the last 24 hours, adding to the gains that started rolling up Thursday.
Trading volume over the last 24 hours was 23% higher than the recent 7-day average, suggesting the rally may have some investor conviction behind it.
The two biggest coins: Bitcoin and Ethereum
The price of Bitcoin (BTC) rose 2.51% over the last 24 hours. At the time of writing, Bitcoin was trading at $20,888.40, after falling near $19,000 midweek.
The price of Ethereum (ETH) rose 7.71% over the last 24 hours, up $87.90 to $1,228.12. It traded near $1,000 earlier this week.
Both are near key resistance levels and the test will be whether they can break out of recent trading ranges.
Today’s biggest gainers and fallers
Big gains happened for Quant (QNT) up 27.27%; CEEK VR (CEEK), which rose 16.43%; and Aave (AAVE) which was up 15.52%. (All figures are based on the last 24 hours of trading at time of writing.)
Quant (QNT) is an operating system that different blockchains can 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 the usage or creation of multi-chain applications (MApps).
There is no news connected to the recent gain. It continues the last 2 week’s rally, which has now climbed at 97%.
CEEK VR (CEEK) helps digital content creators, athletes and music artists connect to their fans via virtual worlds, allowing them to monetize through virtual events. It also sells a patented virtual reality (VR) headset. Its CEEK token pays for goods and services in these virtual worlds.
The price appreciation continues CEEK’s 4-week rally. Crypto exchange KuCoin opened an office in CEEK’s metaverse. Draper University’s entrepreneurship program also announced plans to open a CEEK metaverse office.
Aave (AAVE) is a decentralized finance (DeFi) protocol that allows people to lend and borrow crypto. It uses its token for governance and fee discounts to holders.
The price climbed before Aave discussed its GHO stablecoin proposal. This discussion happened with the community on Twitter Spaces.
The largest drops were for Decred (DCR), down 1.35%, and XDC Network (XDC), which fell 0.44%.
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.
There is no news connected to the slight loss. It is typical price action following Wednesday’s sudden rally, where the price rallied by 61%.
XDC Network (XDC is an enterprise-grade, hybrid blockchain compatible with the Ethereum Virtual Machine (EVM). It has public and private states and interoperable smart contracts. The XDC token powers the network’s smart contracts and transactions.
The minimal price decline is a typical market fluctuation with no connection to any news.
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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.
