As the year winds down, the crypto market is in bearish. It was in red for the past 24 hours as the top 10 cryptocurrency markets were lower at the writing of this article. Yesterday’s session ended with the SPX500 rising 0.14%, putting it at a new all-time high. Yesterday’s UK100 record reached a 22-month high, marking its highest level since February 2020.
Bitcoin was trading at $47,000, or approximately 2% lower than yesterday morning. Ethereum and XRP fell around 3% while Solana lost approximately 6%. Uniswap, yesterday’s only gainer in the top 20, is reversing wins. It’s down 9% so far today. Algorand is the next-ranking cryptocurrency (19) and the largest winner of the top 20 cryptos based on market cap.
In other crypto news, Binance Holdings announced yesterday it has received initial approval from Bahrain’s central bank to become a crypto service provider in the Middle Eastern country. This regulatory nod from Bahrain could bring cryptos to higher trading volumes, and according to Shark Tank’s Kevin O’Leary, could drive crypto prices higher.
XinFin is a hybrid Blockchain technology company that is enterprise-ready and optimized for international trade. The XDC protocol supports smart contracts, 2000TPS and 2 seconds transaction times. KYC to masternodes is also supported. The XDC blockchain uses XinFin delegates proof of stake to make a commercial-grade, scalable, secure, permission-based, and highly-scalable blockchain network. XDC, which has a value growth rate of 15%, is the largest gainer among the top 100.
NEAR Protocol’s price is rising due to continuous improvement of the ecosystem and lucrative partnerships. It has risen 14% today.
The creators of Cosmos describe it as a project that solves some of the “hardest problems” facing the blockchain industry. It’s up 9% in the last 24 h.
Since Monero made its promise to create a decentralized, private, fast and free exchange, Monero has steadily been growing. It’s up 7% today.
Today, most other coins are down 1-6%. At #98, ICON continues reversing gains. It has fallen 14% over the past 24 hours.
SORA Validator Token VAL (Val) is the token that represents the SORA network. It is designed to provide tools for decentralized applications that use digital asset, such as atomic token Swaps, bridging tokens with other chains and creating programmatic rules using digital assets.
SORA joined Kusama’s parachain auctions. A bridge will allow interoperability of the SORA network with the SORA Kusama network. The VAL token saw a 4,140% increase today, possibly due to news of securing a Kusama slot.