Cryptos see end of year rally, oil headed for biggest gains
Despite the overall slowdown in crypto markets seen recently, nearly all top 10 cryptos registered gains over the past 24 hours. Oil had a tremendous year in 2021, with COVID-19 lockdowns and re-openings propelling it to mammoth gains. In fact, oil prices have had their best year since 2009, climbing more than 50% since January 1st. The SPX500 and DJ30 hit new intraday highs before pulling back yesterday. The DJ30 missed out on finishing higher for the seventh straight session, with the index dipping 0.25%.
At the time of writing Bitcoin, Ethereum and XRP were all up more than 1%, while the majority of the other top 10 cryptos hovered around the flatline.
Algorand, the 19th biggest crypto by market cap, is the biggest gainer in the top 20 today. Algorand is up 8.79% in the last 24 hours.
Celsius (CEL) is the biggest gainer in the top 100. The all-in-one banking and financial services platform for cryptocurrency users, which offers rewards for depositing cryptocurrency and services such as loans and wallet-style payments, gained 16% today.
Gnosis, a decentralized prediction market built on the Ethereum protocol, is also skyrocketing. It is up 14% in 24 hours.
Cosmos continues to rally. The live Cosmos price today is $31.75 with a 24-hour trading volume of $1.14 billion. Cosmos is up 13.60% in the last 24 hours.
AAVE is another big winner today. Its live price is $272.41 with a 24-hour trading volume of $591.8 million. Aave is up 13.58% in the last 24 hours.
Arweave and Bora both gained 11%. Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. Bora is a decentralized entertainment platform that distributes digital content and provides incentives to participants.
SushiSwap continues its rally over the past few days with 10% gains.
Let’s Go Brandon (LGB) is a decentralized meme cryptocurrency dedicated to racecar driver Brandon Brown, an underdog who won at Talladega Superspeedway on October 2, 2021, setting off a chain of events that ultimately led to the creation of the meme coin. It’s up more than 50% today.
Catena X (CEX) is a project that aims to deliver an efficient multi-chain transfer protocol to bridge multiple blockchains, which will facilitate trades and transactions between different ecosystems in a completely decentralized way. The service will be secure and expansive with the ultimate goal of eventually bridging most of the existing major blockchains. It’s up 427% today.