Monday, November 28, 2022

Chiliz rallies on Ronaldo partnership with Binance

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The crypto market was in the red this morning, with the majority of top 10 cryptos registering losses. 

Top cryptos

The flagship crypto had lost approx. 2% at the time of writing, trading above $20,000. Ethereum was also down around 2%, Cardano was around 3% lower, and XRP registered losses of around 4%.

Solana is currently down around 6%. The blockchain had a harrowing escape with one of its protocols, Solend, almost facing liquidation. It was saved in the nick of time – by none other than Binance. Dogecoin is down 7%, reversing recent gains. 

Cryptos outside the top 10 are deeply immersed in the all-pervasive bearish trend. The biggest loss was for Polygon and Uniswap, each down 9%. 

Top movers

Outside the top 20, the tendency was also bearish, with most coins losing 3-5% of their value. Notable standouts include XDC Network and Zilliqa, which lost 10% resp. 6%. Stacks saw an end to its bull run and has shed 18% of its value so far today. 

On what seems to be a bad day for privacy tokens, Zcash lost 7%, and Monero lost 6%.

Of the bigger coins by market cap just outside the top 20, Cosmos is down 7%, and NEAR Protocol’s token NEAR has lost 8%.   

The winners

The day wasn’t without its winners. ApeCoin is up 7% on validation from rap royalty, and Tezos gained 9% on news of positive NFT developments. USDD, Tron’s stablecoin, is stabilizing, although it’s still a cause for concern to investors. 

Chiliz is up 9% so far today and is nearing a weekly breakout, according to specialists. Cristiano Ronaldo’s partnership with Binance for NFTs seems to be having a positive impact on Chiliz, too, as many football teams have partnered with Socios.  

TerraClassicUSD, Terra’s renamed stablecoin, added 86% to its value today, bringing its weekly gains to an impressive 472%. 

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