All 20 top cryptos were down, with the exception of Terra at #9 over the past 24hrs. Late Tuesday night, oil jumped past $86, the highest price since 2014. This was due to tighter supplies and a host of geopolitical events.
A pipeline carrying oil from Iraq to Turkey burst, stopping oil flow. On Tuesday, terrorists attacked fuel tankers and oil storage facilities in the UAE.
Tensions at the Russian-Ukrainian border could cause disruption to supplies, as OPEC+ members struggle to produce their targets while the global demand for oil increases. Oil was trading at $85.
After a surge in Treasury yields, US stocks fell yesterday. Yesterday’s Wall Street indices all fell as the DJ30, SPX500 and SPX500 plunged 1.5% and 1.8% respectively, while the NASDAQ100 dropped 2.6%.
Top cryptos
Cardano lost its winning streak and fell more than 10%. Following Polkadot, the stock fell more than 4%. Ethereum and BNB also dropped more than 3%. XRP, Solana and XRP were all down more that 2%.
At the time of writing, Bitcoin was trading at $42,000. Terra, whose token Luna gained 5.5% in the past 24 hours, was the only winner among top 20.
As regulators frown upon easy access for consumers to cryptocurrency, crypto ATMs in Singapore were forced to halt services. Bank of NY Mellon believes that crypto assets could be a significant source of revenue within the next 2 years.
Top Movers
The movements in the top 100 were more or less identical to those in the top 20. Stacks is a layer-1 blockchain solution designed to bring decentralized apps (DApps), and smart contracts (DApps), to Bitcoin (BTC). This is a notable exception. It is currently up 17%.
The native token of Theta Network, THETA, was easily one of today’s biggest and few winners, up more than 9% in the last 24 hours. Theta Fuel, the token powering the Theta blockchain, is also up today – by 14%. Harmony is at the opposite end of the spectrum, with 13% less gains.
Trending
Patron, the token for an influencer sharing economy platform, was the largest gainer of the day. The Japanese company’s cryptocurrency added 2,970% to its value in the last 24 h.
Rainbow Token, a DeFi token that is hyper-deflationary and ethical, runs on Binance Smart Chain. It combines seven features to make one crypto asset. It was added to Stealth Exchange yesterday and is up 18% today.
On the news of Bitmart’s listing, the Lunar token is gaining momentum. Today, Lunar saw an 11% increase in its value.
Market Highlights January 19: Sea Of Red for Major Cryptos, Oil at 7-year High appeared first on Coin Journal.
