The cryptomarket was mostly in the red over the past 24 hours, as the vast majority of top 10 cryptos were seen lower at time of writing. US markets returned with a post-Christmas bang yesterday, with the SPX500 (+1.38%) achieving yet another record high.
European stocks picked up where they left off before Christmas by finishing yesterday in the green.
Oil ticked up more than 3% yesterday, with traders increasingly optimistic about consumer demand for the fossil fuel as we enter 2022.
Bitcoin was down approximately 3%, trading below $50,000 this morning. Ethereum and XRP were both down around 3%, and Cardano registered losses of approximately 1%. Terra is the biggest top 10 loser, down by more than 10% today. Polygon lost just over 8% of its value in the last 24 hours.
Outside the top 20, the biggest gainers were Sushiswap, Icon and IOTA. AMM Sushiswap gained 10% today. ICON Network, a layer one blockchain from South Korea, is the top 100’s biggest winner. Its declared vision is to build an interoperable blockchain network bridging autonomous online communities and real-world enterprises. ICON Network focuses on delivering real-world utility by advancing hyperconnectivity through the promotion of frictionless value exchanges.
By verifying transactions on its decentralized ledger, ICON can minimize the number of intermediaries and eradicate boundaries to cross-border interactions. In particular, the company focuses on the use cases of decentralized identity, digital certificate issuance, blockchain payments, decentralized finance, non-fungible tokens and additional use cases: e-government, elections, decentralized oracles and e-health. It gained 18% today, reaching the 84th spot on CoinMarketCap.
At the other end of the specter are Theta and Yearn Finance (both -11%) and Loopring and Curve DAO Token (both -10%).
Multi-Farm Capital is an experimental yield farming / profit sharing protocol developed and launched on the Ethereum blockchain. Transaction fees from trading are collected in a treasury which is then utilized to yield farm on various other blockchains. After migrating to a new contract, it’s up 1,845%.