Market highlights January 20: Cardano keeps sliding, gold and silver related stocks soar
The crypto market is more or less flat today, with most top 10 cryptos having registered gains or losses of less than 1%.
As inflation continues to rise in the US and other parts of the world, demand for precious metals is increasing. Over the past 24 hours, many stocks relating to gold and silver made notable gains.
Examples are Harmony Gold Mining (+16%), Gold Fields (+12.8%), AngloGold (+12.2), and Pan American Silver (+9.5%).
US markets fell yesterday as Germany’s 10-year treasury bond yield turned positive for the first time since May 2019.
Top cryptos
Cardano continues to slide after posting weekly gains of more than 30%, losing around 3% over the past 24 hours. BNB rose almost 2%, Terra by more than 3%. Bitcoin was trading just under $42,000 at time of writing.
Cosmos is a notable standout in the top 20, up 7.33% in the last 24 hours.
Top movers
FTX Token, the native token of crypto exchange FTX, surged 9% today. Stacks lost 10%, reversing yesterday’s spectacular gains.
The majority of remaining top 100 coins moved in the range of +/- 1-3%.
Trending
The biggest gainer is gaming-based passive income generating cryptocurrency NinjaFloki, the value of which rose by 650% today.
Moonbeam, which Binance recently listed, is skyrocketing, having added almost 25% to its value in the last 24 hours.
Baby Doge Coin is emerging as a dog-themed meme coin with staying power. It has been gaining over the past week and today is no exception with an increase of 9%.
The price of REN, the token of REN Protocol, has been rising after an announcement that it has been listed on eToro yesterday. The same goes for Fetch.ai, which eToro also listed. Fetch.ai’s native token FET has gained 9% in the last 24 h.
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