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Today’s crypto movers: Bitcoin (↓0.79%), Ethereum (↓0.30%), Internet Computer (↓2.71%) and Chainlink (↑8.72%)

Posted: 10 June 2022 6:04 pm
News
Chainlink-LINK-1

The overall crypto market is down 0.29% in the past 24 hours. Chainlink and Tezos were two top gainers among the top 100 cryptocurrencies by market cap.

The crypto market traded mostly flat as investors and traders await the inflation numbers.

Overall, the crypto market saw prices change by -0.29%, which shows that market participants are waiting for a catalyst to push prices in either direction.

Trading volume over the last 24 hours was 9% lower than the recent seven-day average, meaning market activity has stalled for now.

Price volatility was 0.68%, which shows almost no price fluctuations.

The two biggest coins: Bitcoin and Ethereum

Bitcoin (BTC) is the biggest coin by market cap and its price changed by -0.79%. Bitcoin now represents 46.32% of the overall market cap of all cryptocurrencies.

Bitcoin is almost glued to the US$30,000 price level, refusing to make a move in either direction. This is likely to change soon as new inflation numbers are due on Friday.

The second most valuable crypto, Ethereum (ETH), saw its price change by -0.30%. Ethereum's market cap is 37.81% of Bitcoin's value.

Similar to Bitcoin, Ether hovers around its own price levels, currently between US$1,750 and US$1,800.

Today's biggest gainers and losers

The coin with the biggest percentage gain (out of the top 100) was Chainlink (LINK). Its 24 hour increase was 8.72%. The increase means LINK is now the 20th biggest coin with a market cap of US$4.25 billion.

Chainlink (LINK) helps blockchains interact with external payment methods, events and data feeds. It does this by creating an abstraction layer over other blockchains. The LINK token facilitates data transfers and node operator rewards and deposits.

The recent gain accompanies new integrations on Avalanche and BNB Chain.

Two other top performers were Tezos (XTZ) and Theta Network (THETA). XTZ gained 8.03%, while THETA gained 6.69%.

Tezos (XTZ) is a blockchain network built on smart contracts. It designed its network to evolve without the danger of a hard fork. It uses its XTZ token for decentralised app (dApp) interaction and staking to secure the network.

Theta Network (THETA) is a blockchain-powered network built for video streaming. YouTube and Twitch co-founders serve as advisors. The Theta mainnet is a decentralised network where users share bandwidth and peer-to-peer (P2P) computing resources.

The biggest loser in the 100 biggest coins was Internet Computer (ICP). Its drop over the last day was 2.71%.
After the fall, ICP is now the 39th biggest coin with a market cap of US$1.55 billion.

Internet Computer (ICP) aims to turn the public Internet into a world-class computing platform. It's a decentralised blockchain network with smart contracts that let developers create dApps. It uses the ICP token for governance, rewards and transaction fees.

The recent loss has no connection to any news.

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: 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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