Wednesday, December 7, 2022

Cryptos on the decline, Wall Street under pressure

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US markets fell yesterday as US President Joe Biden warned the risk of a Russian invasion of Ukraine was still “very high.”

The crypto market was mostly lower over the past 24 hours, with the majority of cryptos in the red this morning.

The SPX500 fell 1.98% while the DJ30 was down 1.66% and the NASDAQ100 dropped 2.83%.

US markets will be closed this Monday due to President’s Day.

Top cryptos

Bitcoin was down more than 6.5% at time of writing, while Ethereum was down around 5.5%. BNB and Solana were each down more than 4%, while XRP and Cardano both declined more than 3%.

Terra lost almost 9%, which makes it the biggest loser in the top 20. Apart from the general market trend affecting it, news that the S.E.C. is suing its CEO over Mirror Protocol pushed the price down.

Top movers

Most cryptos lost 3-5% of their value in a trend that continues since yesterday. Decentraland, Axie Infinity, Stellar Lumens, and Theta Network were each down around 7% at the time of writing. 

The Sandbox, Filecoin, and VeChain each lost 8% and Aave, Kadena, and THORChain shed 9% of their value.

Decred and Rally both lost 10% today. However, Rally is still up 17% for the week and remains the only crypto in the top 100 to complete 7 days in the green.  

At the other end, Neo continues to rally. Yesterday, it emerged China’s BSN had given the project the green light on NFT marketplaces. It’s up 4% today.  

Trending

The meme token BEAGLE INU has gained 309% in the last 24 hours. BEAGLE INU is a hybrid of a biological BEAGLE and Inu, a very advanced dog whose body has been permanently supplemented with haft blood.

The live DIA price today is $1.32 with a 24-hour trading volume of $269.5 million. DIA is up 33.22% in the last 24 hours.

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