Thursday, December 1, 2022

Decred jumps 17% against gloomy market backdrop

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The crypto market as a whole was mostly lower, with the majority of top 10 cryptos registering losses over the past 24 hours. 

Top cryptos

Bitcoin lost around 3% of its value and was priced at $39,000 at the time of writing. Other cryptos were also lower, including Ethereum and XRP, down 5% and 6%, respectively. Cardano registered losses of 7%, making it the biggest loser in the top 10. 

Top movers

Almost all top 100 coins were in the red at the time of writing. Against this background, the Decred price jumped sharply, reaching an all-time high since January 22 this year. 

Decred is a protocol created to facilitate open governance, community interaction, and sustainable funding policies. One of the likely reasons for its surge is the recent consensus changes its members have approved. 

Some of the most recent votes were related to automatic ticket revocation, reverting treasury expenditure policies, and concrete version upgrades. Another reason is the increasing demand for privacy tokens.

The only other coin in the green was Stacks, with gains of 6%. Ryder recently announced the launch of an NFT collection, and minting prices are in STX, Stacks’ native token. Web3 wearables and a social wallet are also in the works. 

On the other end, Kyber Network’s KNC token shed 12% of its value. Zilliqa, Waves, EOS, and Filecoin are also reversing recent gains, each down around 10%.

Trending

The biggest gainer today is Metacyber, a virtual blockchain-based metaverse set in a space where one can explore, play, trade, and socialize with other players. Its in-game currency and utility token METAC is up 629% in the last 24 hours. 

The token can provide access to an abundance of virtual assets, upgrades, and services in the Metacyber ecosystem.

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