The crypto market has been higher over the past 24 hours, with the majority of the top 10 cryptocurrencies in the green at the time of writing. US stocks rose yesterday after Federal Reserve Chairman Jerome Powell reiterated his warning that interest rates must rise this year.
Emphasis on the Fed’s seriousness about tackling inflation was greeted by investors as the Nasdaq 100 (+1.47%), SPX500 (+0.92%) and DJ30 (+0.51%) all finished higher yesterday.
Energy stocks dominated the SPX500 bullish schedule after the sharp increase in the oil price.
Investors will closely follow the monthly Consumer Price Index (CPI) and Core CPI data, due today at 13:30 GMT.
Bitcoin is up about 1%, trading above $42,000 at the time of writing. Ethereum is up about 4%, Cardano and XRP are up about 5% and 2%, respectively. The top ten list was closed down by Polkadot, which posted a gain of about 10%.
Avalanche, the eleventh largest coin in the ranking, gained 11% today, trading at just over $90. It has outstripped Dogecoin and Shiba Inu in terms of market capitalization and looks set to cross $100 soon.
The NEAR Protocol’s original token, NEAR, is the biggest winner among the top 20 coins this week. The 19th-ranked coin has gained 7% in the past seven days, more than any other coin in the top 20, and just added 10% to its value today.
The most important driving factors
After correcting the recent pullback, Fantom has embarked on a relentless uptrend thanks to a list of recent events. First, the news was the Movr Network integrated Fantom on FundMovr and then the FantomLive IDO currently running on DAOSstarter. He gained 20% in the last 24 hours.
Oasis Network (ROSE), a privacy-focused Layer 1 blockchain built for open finance and a responsible data economy using the Cosmos SDK, is up 19%.
Secret is the original currency of Secret Network, a blockchain with data privacy for smart contracts by default, allowing you to create and use unauthorized applications that maintain privacy.
This function protects users, secures applications, and unlocks hundreds of never-before-seen use cases for Web3. It has gained 18% in the last 24 hours.
Sandbox, Kadena, and Bora are all gaining 14% today. Bora reached 96th. Yesterday, he was barely afloat at 100.
Harmony, the 42nd coin by market cap, is one of the biggest gainers today as well. I gained more than 13%. Celo gained just under 13%. OMG Network and Livepeer shares are also up 13%.
The price of the GALA token rose by 700% last November, after which it fell with a series of lower rallies. Now, it’s starting to reverse some of its losses. I gained 12% today. Arweave stock also rose 12%.
Other strong performers include Enjin Coin with +11% and Stacks and THORChain, both +10%. Kusama’s live price today is $272 with a 24-hour trading volume of $114.4 million. It is up 9.71% in the last 24 hours.
Bombcrypto is a classic earning game where players can buy bomb heroes and participate in exciting game modes. The game has 3 game modes: Treasure Hunt – Autoplay, Story Mode and PVP. It’s trending like Bomber Coin.
The price of its token, BCOIN, is $3.24 today. Bomber Coin is up 30% in the past 24 hours.