Crypto markets lower, strong week for London-listed firms
The crypto market was mostly lower over the past 24 hours, with the majority of the top 10 cryptos registering losses.
The UK100 (+3.76%) rose strongly last week as fresh economic data showed the UK economy to be performing better-than-expected.
US stocks suffered one of their worst weeks so far in 2022 last week as the ongoing war in Ukraine caused investors to dial down their risk appetite.
Tech stocks were among the hardest hit, with household names such as Apple (-5.17% last week), Microsoft (-3.38%) and PayPal Holdings (-3.34%) all losing ground.
Terra is the biggest top 10 winner again, up 8% at time of writing. This might be due to ETH whales accumulating Wrapped Luna en masse to gain exposure to the Terra ecosystem. Last week, whales purchased more than $70,000 of Wrapped Luna, the wrapped version of Terra’s token.
Bitcoin was down around 1%, trading below $39,000 at time of writing. Ethereum registered small losses, and XRP and Solana were down around 3% and 2%, respectively. On the upside, Cardano registered gains of around 2%.
Dogecoin is trending after Elon Musk announced he wouldn’t be selling any coins. However, this failed to reflect on its price.
Most top 100 coins lost 1-3% of their value. Fantom is down 5%, still reeling from the developer exit last week. Chiliz has lost 6%.
On the upside, THORChain and privacy token Zcash gained 8% resp. 4%. THORChain has had an extended rally recently. The Graph is also up by around 4%.
The live HydraMeta price today is $0.00077 with a 24-hour trading volume of $1 million. HydraMeta is up 1,483% in the last 24 hours.
Through this platform, users can buy and sell in different blockchain markets without transferring to other cryptocurrency wallets, which further reduces the fees on cross-chain transactions such as ETH and BSC.
MovieBloc, a decentralized movie and content distribution platform, continues to rally. Its token MBL has been soaring ever since it was listed on crypto.com last week. Today, its price more than doubled, adding another 137%.