The crypto market is currently experiencing a period of relative calm, with a 0.31% gain in the last 24 hours. This situation is influenced by various global economic factors, including inflation. As economies grapple with inflation, the performance of cryptocurrencies on DEXTools reflects investor spending preferences. While new cryptocurrencies are attracting diversification-seeking investors, their percentage gains are being moderated. Established cryptocurrencies are holding steady as top trending coins.
European stock markets opened with gains due to oil price decreases and a softer US jobs report that led to a retreat in US Treasury yields from their 16-year high. Asian shares also recovered from their 11-month lows following positive developments on Wall Street. However, China’s mainland markets are closed for holidays.
Recent weeks have seen increased US yields as investors reassess the likelihood of the US Federal Reserve maintaining higher interest rates for an extended period. The 10-year US yields reached a 16-year peak at 4.884%.
1. Bitcoin BSC (BTCBSC): Bitcoin BSC had an impressive launch on PancakeSwap decentralized exchange, with a price surge of 50% and a market capitalization of $17.37 million. It has quickly become one of the most actively traded tokens, with a 24-hour trading volume of $1.32 million and locked liquidity of $372,180.
2. Lybra (LBR): Lybra has seen a notable increase in its price, currently standing at $0.949387. It has a circulating supply of 17 million LBR tokens and a market capitalization of $15.79 million.
3. Mog Coin (MOG): Mog Coin has experienced a significant price increase, currently valued at $0.000000024928. It has a circulating supply of 390 trillion MOG tokens and a market capitalization of $9,71 million.
The next top trending cryptocurrency to watch out for is BTCMTX, a decentralized cloud mining platform that aims to democratize crypto mining through its unique “Stake-to-Mine” concept. This project has already raised over $533,000 and is expected to become a top trending cryptocurrency soon.
Hot Take: The crypto market is currently experiencing stability, with slight gains and moderated percentage gains for new cryptocurrencies. Established cryptocurrencies are holding steady as top trending coins. Economic factors, such as inflation and global market developments, influence the crypto market’s performance. Investors should keep an eye on Bitcoin BSC, Lybra, Mog Coin, and BTCMTX as potential investment opportunities in this market.
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