As a whole, the crypto market is bearish. Last week, investor confidence was shaken by fears about the Omicron version of coronavirus. This led to three major US indexes retreating. Despite the rally on Thursday, the markets fell despite the Federal Reserve’s Wednesday monetary policy announcements.
Stocks were led lower by the NASDAQ. It fell 3.25% in five days. The SPX500 fell 1.94%, and the DJ30 fell 1.68%. Financials fell 2.27% during the week. Energy and Industrials also fell 2.24%.
Over the last 24 hours, several major cryptos were in red. Cardano dropped by over 5%, while Ethereum and BNB fell more than 3 percent. Bitcoin traded at just $46,000 as of the time this article was written, down more than 2%
XRP stood out with a more than 5% gain at the time of writing. Solana, which is down by around 6 percent today, is the largest loser among the top 5. Avalanche is among the 20 biggest losers. After a series of steady gains, it’s down almost 9% in the last 24 hours. The downturn is likely to be temporary, however, as it remains a major competitor for Ethereum.
The top 100 coins lost between 5 and 10% today, just like the top 20. Kadena was the worst hit by the bearish trend. It has fallen 11% over the past 24 hours.
The biggest winner in the top 100 today is Revain, the token of an online platform for Ethereum blockchain-based tokens reviews, designed to allow developers to receive constructive feedback about their projects. It also encourages reviewers to give high-quality reviews. It’s up 12% today.
Yearn.finance is a decentralized finance investor aggregator that allows them to maximize yield farming profits via automation. It has added 11% value.
Decred is among the few winners today. After gaining nearly 7% over the last 24 hours, it reached $75.84.
Finally, IoTeX, a decentralized platform aiming to empower open economics for machines, added just over 3% to its value today.
Andromeda, a project aiming “to create profitable investments for all”, is up 11,208% today, most likely because of a contract upgrade. This project has a $3,000,000 marketing budget. 80% of it has been made available for sale via fairlaunch. 10% is still locked for development; 7% remains in the marketing wallet and the remaining 3% was left for the provider of auto liquidity.