Cryptos seen lower, US markets edge higher
The crypto market as a whole is bearish as the year comes to an end. It was in the red over the past 24 hours, as the top 10 cryptos were seen lower at the time of writing. The three major US indices edged higher yesterday as the SPX500 rose 0.14% to finish the session on another all-time high. The UK100 hit a 22-month high yesterday, its highest level since February 2020.
Bitcoin was down approximately 2%, trading below $47,000 this morning. Ethereum and XRP were down around 3%, while Solana registered losses of approximately 6%. Uniswap, yesterday’s only gainer in the top 20, is reversing wins. It’s down 9% so far today. The next-ranking coin (19), Algorand, is its complete antipode, up 11%, and the biggest winner in the top 20 cryptos by market cap.
In other crypto news, Binance Holdings announced yesterday it has received initial approval from Bahrain’s central bank to become a crypto service provider in the Middle Eastern country. This regulatory nod from Bahrain could bring cryptos to higher trading volumes, and according to Shark Tank’s Kevin O’Leary, could drive crypto prices higher.
XinFin (XDC) is an enterprise-ready hybrid Blockchain technology company optimized for international trade and finance. The XDC protocol is architected to support smart contracts, 2000TPS, 2 seconds transaction time, and KYC to masternodes. The XDC blockchain uses XinFin Delegated Proof of Stake with the intent to create a highly-scalable, secure, permission, and commercial grade blockchain network. XDC is the biggest gainer in the top 100 today with value growth of 15%.
Following continuous improvements to the ecosystem and a series of lucrative partnerships, the price of NEAR Protocol is only going up. Today, it has gained 14%.
The creators of Cosmos describe it as a project that solves some of the “hardest problems” facing the blockchain industry. It’s up 9% in the last 24 h.
Monero has been rising steadily since it made good on its promise of a decentralized exchange built on privacy, speed, and low fees. It’s up 7% today.
Most of the other coins are down by 1-6% today. At #98, ICON continues reversing gains. It has lost 14% in the last 24 h.
SORA Validator Token (VAL) is the token of the SORA network, which is said to excel at providing tools for decentralized applications that use digital assets, such as atomic token swaps, bridging tokens to other chains, and creating programmatic rules involving digital assets.
SORA joined the Kusama parachain auctions and interoperability between the existing SORA network and the SORA Kusama parachain network will be enabled via a bridge. The VAL token gained 4,140% today, possibly on news of securing a slot on Kusama.