Several top 10 cryptos were in the green over the past 24 hours. Conversely, all three major US indices fell yesterday as investors digested the new Covid-19 restrictions, coupled with fears over President Biden’s Build Back Better bill failing to pass on $2 trillion in stimulus to the economy.
Bitcoin is up almost 6% at the time of writing. Ethereum gained more than 4% today. XRP gained more than 3%, and Cardano was up around 3%. Solana, the fifth cryptocurrency by market cap, also gained almost 4%. The current failure of President Biden’s Build Back Better legislation may be a plus for crypto investors as the bill contained provisions that would close a tax loophole on crypto assets.
Avalanche caught Bank of America’s attention, resulting in a subsequent increase of the value of the token. A team of analysts from BoA published a note commending the network’s low transactions fees and scalability. BoA sees Avalanche as a viable alternative to Ethereum. Avalanche is up 15% in the last 24 hours.
The live Terra price today is just under $82 with a 24-hour trading volume of $3.6 billion. Luna, the native token of Terra, is up 8% in the last 24 hours. The Terra blockchain passed BSC to become the second-largest by TVL.
Another big winner today is Polygon. The live Polygon price today is $2.30 with a 24-hour trading volume of $2.14 billion. It is up 11.18% in the last 24 hours.
Outside the top 20, most coins were up between 1% and 7%. Helium’s price movement is notable. It has risen in the past two straight days as investors cheer the implementation by Dish Network. The HNT token is trading at around $35, which is about 45% above the lowest level this month. This jump has brought its total market capitalization to more than $3.52 billion. Today, Helium is up 16%.
Harmony is about to break the top 50. ONE, its native token, is trading at $0.24, which is about 82% above its lowest level this month. Its total market capitalization has jumped to more than $2.7 billion, making it the 52nd biggest cryptocurrency in the world. Harmony is one of the fastest-growing layer 2 networks for Ethereum. Today, it is also up 16%.
THORCHain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process.
With THORChain, users can simply swap one asset for another in a permissionless setting, without needing to rely on order books to source liquidity. Instead, market prices are maintained through the ratio of assets in a pool. Its native token, RUNE, gained 14% today.
Kadena is reversing some recent losses. It is up almost 10% today. Another big gainer is HOLO with 14%.
SILVA Token is a unique service that allows individuals to make payments from the comfort of their home in fiat currencies or crypto-currencies, to multiple online and offline stores. The multifunctional platform allows each participant to keep money in a multicurrency online wallet, buy and sell currency on the exchange, invest money, and more. Today, this BSC token has gained 5,362%.