Highlights March 10: AVAX leads major cryptos’ slide, US markets surge
US President Joe Biden signed an executive order instructing federal agencies to prepare a strategy on the ‘future of money’ and the role of crypto assets within it. Major cryptos were in the red over the past 24 hours.
All three US markets surged yesterday as hints of dialogue between warring Ukraine and Russia emerged, despite continued violence on the ground.
The UK100 had its best day in nearly two years thanks to investor confidence on possible changes of tone in the Ukraine crisis, rising 3.05%.
The price of oil plummeted yesterday, falling more than 10% on the back of reports of progressing talks. UAE pledged to support moves by OPEC nations to increase production levels to quell surging crude prices.
Top cryptos
Avalanche dropped 8%, Solana and BNB were down more than 6%, and Ethereum more than 4%. Bitcoin was trading above $39,000 at time of writing, down more than 5% over the past 24 hours.
Although Shiba Inu is down by 7%, it is trending on a recent SHIB burn party and NFT giveaway, hosted by the platform Bigger Entertainment. It was discussed by the Turkish minister of economy at an official event today.
Cosmos is the biggest loser in the top 20 today, down by more than 8%.
Top movers
The situation in the top 100 is equally bleak with a few notable exceptions. Waves’ rally continues. The token, created by Ukrainian Alexander Ivanov, was trading for $26.72 at the time of publication and was up 11.50% in the last 24 hours, bringing its weekly gains to over 45%.
Early this morning, THORChain’s token RUNE spiked 34% after synthetic assets were activated in the ecosystem. After the update, THORChain has half the swap fees, making swaps cheaper and faster for traders. It’s now possible to do near-instant trades at a high volume.
OMG was listed in the pair OMG/USDC on Bitrue yesterday, leading to a surge of OMG Network’s native token. It gained 11% today.
The biggest winner is ICX, the token of South Korean ecosystem Icon. After Yoon Suk-yeol won the presidential election in South Korea, the token broke into the top 100. It has gained 35% in the last 24 hours, approaching the equivalent of one dollar.
The new president wants to deregulate the crypto industry in South Korea and supports the Icon Network, which issues the coin.
As the conflict awaits resolution, privacy coins are starting to sink. Monero is shedding gains, having lost 12% of its value so far today. Harmony is down 11%.
Trending
The biggest gainer today is Kawakami, changing hands for $0.000002. Kawakami is up 828% in the last 24 hours.
Kawakami is the decentralized ecosystem for meme projects fueled by the $KAWA token. Even though the team is taking the lead on development, it acts as a decentralized autonomous organization.
The aim is to create a fully-fledged ecosystem for meme tokens with a line of powerful tools and products, enabling investors to make educated decisions.
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