Mooners and Shakers: Bitcoin recovery stalls; Solana shines; Near climbs

Bitcoin’s move back from the big drop earlier in the week has stalled somewhat today, but many cryptocurrencies are still making strong and positive moves.

While Bitcoin’s rebound from below the $40K level has been encouraging, along with strong bearish signals, some traders have emphasized that a small rally on low volume and low liquidity is something you should remain cautious about for the time being.

As Rekt Capital points out, for example, a specific BTC move in either direction is still well in the balance right now and what we’re seeing can still be seen as a consolidation range.

In the meantime, Roman Trading, which has been constantly suspicious of the bullish Crypto Twitter chatters recently, is calling for more patience with OG crypto. It highlights low trading activity (low volume) as a sign of potential bitcoin weakness or rebound.

Overview of the top 10

With the overall cryptocurrency market cap pretty much all over (+0.1%) since this time yesterday, here’s the state of play in the top ten by market capitalization at the time of writing – according to CoinGecko data.

Based on only 24-hour price performance, the Solana (SOL) and Terra (LUNA) Layer 1 protocols appear to be the strongest in the top ten at the moment.

Although CoinGecko is showing that SOL is currently only 2 percentage points higher on the daily time frame, the coin was earlier reacting favorably to the resonant endorsement from Bank of America.

Winners and Losers: 11-100

Crossing a market cap range of between $23 billion and about $1.2 billion in the rest of the top 100, let’s find some of the biggest gainers and losers over 24 hours at press time.

daily pumps

β€’ near protocol (Nearby), (MC: 11.7 billion USD) + 10%

β€’ Currency (XMR), (mc: $3.9 billion) + 9.8%

β€’ Olympus (ohms), (MC: 1.75 billion USD) + 6.5%

β€’ Oasis Network (Rose), (MC: $1.7 billion) +6%

β€’ harmony (One), (MC: 4 billion USD) + 5.5%

It was announced today that Three Arrows Capital VC Big Gun has led a $150 million funding round for Near Protocol, with contributions from various original crypto funds and angel investors.

It is clear that the funding will be used to accelerate the adoption of Web3 technologies and to share yoke with them, as well as to increase awareness of its brand.

daily skis

β€’ Share Frax (FXS), (MC: 1.3 billion USD) -11%

β€’ computer internet protocol (ICP), (MC: 6.4 billion USD) -7%

β€’ Elrond (Egypt), (MC: $6.2 billion) -6%

β€’ Algorand (ALGO), (market capitalization: $9 billion) -5%

β€’ theta network Theta (MC: $4.1 billion) -5%

Low-cap winners and losers

Moving below cryptocurrency unicorns (in some cases much less), here is a selection that catches our eye…

daily pumps

β€’ paint swap (Brush), (MC: $29M) + 73%

β€’ soul swap (Spirit), (MC: 6.5 million USD) + 64%

β€’ Moonbeam (GLMR), (MC: 1.07 billion USD) + 61%

β€’ goldfinch (GFI), (market value: $70 million) + 45%

β€’ Generous (Careem), (market capitalization: $55 million) + 44%

Paint Swap and Soul Swap are two other DeFi plays within the Fantom token ecosystem, many of which have been on the verge of ripping a bit lately. (Maybe they are stealing some of the speculators’ interest away from the likes of their fellow Fantom Tarot and Spell coins – see below.)

Meanwhile, Polkadot’s interoperability enabler has rebounded significantly, after a massive dump when it hit the market the other day.

daily skis

β€’ fuse (Fuse), (market capitalization: $174 million) -13%

β€’ Crypto Raiders (RAIDER), (mc: 43 million USD) -10%

β€’ tarot Taro, (MC: $31 million) -8%

β€’ spelling (SPELL), (MC: $1.2 billion) -7.5%

β€’ ramk (RMRK), (MC: $256 million) -7%

last word…

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