The crypto market rose by 0.79% in the last 24 hours, with Neo and Decentraland leading the charge.
Overall, the crypto market saw prices up by 0.79%, a relatively flat market but with declines for the biggest coins.
Trading volume over the last 24 hours was 141% higher than the recent seven-day average, according to the Finder Cryptocurrency Weather Report. Price volatility was 3.17%, which is higher than in recent weeks.
The two biggest coins: Bitcoin and Ethereum
Bitcoin is the biggest coin by market cap and its price dropped by -7.97%.
Bitcoin now represents 46.2% of the overall market cap of the 200 biggest coins.
The second most valuable crypto, Ethereum, saw its price change by -7.79%.
Ethereum’s market cap is 33.62% of Bitcoin’s value.
Today’s biggest gainers and fallers
Outside those dominant coins, the biggest gains were for Neo (up 6.77% in the past 24 hours) and Decentraland (which saw a 5.33% gain over the same period).
Neo, which has sometimes been described as a Chinese version of Ethereum, uses the NEO token for governance, spending, staking and sending. There was no obvious trigger for the gain, reflecting a relatively inactive market.
Decentraland (MANA), a virtual reality platform powered by the Ethereum blockchain, saw its price rise after launching its Metaverse Pride Parade. It uses MANA tokens to get LAND tokens and buy assets on the Decentraland marketplace.
The recent loss follows an incident and recovery report about last week’s attack on Elrond’s network.
The biggest 24-hour falls were for Elrond (EGLD), down 11.57%, and The Sandbox (SAND), which dropped 9.28%.
The Elrond drop follows an incident and recovery report following a recent attack, reflecting a tendency for markets to react poorly to security incidents. The Elrond blockchain protocol uses sharding to offer fast transaction speeds and uses its EGLD token for staking, rewarding validators and paying transaction fees.
The Sandbox’s fall follows a partnership with Mastercard announced last week.
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:
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
service or offering. It is not a recommendation to trade. 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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