Movers of the Day 26-Dec-2022

December 26, 202211min353

Tokens and coins that moved the most in the last 24 hours:

Top movers of the day are Ren and Terra Classic. Since 7 pm Ren has increased by 4.14%, Terra Classic 3.51%.

Most cryptocurrencies finished the day slightly higher as illustrated by an adjacent chart showing the NWSBCT (Blue Chips) Index movement over the last 24 hours. The tokens built on Ethereum measured by 2100NEWS Ethereum Based Index (NWSET100) ended +0.35%. 2100NEWS Total Index (NWST1100) ended +0.29%. Bitcoin ended +0.11%, Ether ended +0.08%.

Please read the notes to find out which criteria have been selected.

 

REN

Ren (REN)

2100NEWS ranking: 164, Mid-cap Ethereum-based Token, Index member: NWST1100, NWSM200, NWSTo100, NWSET100, NWSDM100
2100NEWS DA Orderbook Quality Evaluation Grade: Ordinary, Score: 17.3 (Average for Tokens: 15.5)

Ren is an open protocol meant to enable the permissionless and private transfer of value between any blockchRen’sRen’s core product, RenVM, is focused on bringing interoperability to decentralized finance (DeFi).

 

Top mover of the day at 19:10 is Ren which has surged 13.81% since 2 pm. Mirror Protocol and Ampleforth are slightly higher: MIR +0.37%, AMPL +0.80%. The crypto markets still trended sideways. Looking at the yesterday’s closings the large caps measured by 2100NEWS 100 Large Cap Index (NWSL100) have increased by 0.59%. 2100NEWS Total Index (NWST1100) is 0.20% higher. Bitcoin has increased by 0.10% while Ether has decreased by 0.15%.

 

REN

Ren (REN)

 

The day’s top movers (at 2 pm) are MXC and Ren. Terra Classic has risen by 4.31% since 9 am. The crypto markets have trended sideways. In the last 24 hours the 2100NEWS Total Index (NWST1100), which measures 1100 significant (by market capitalization) crypto assets’ performance, has risen 0.07%, Bitcoin by 0.20%, and Ether by 0.10%.

 

LUNC

2100NEWS ranking: 200, Mid-cap, Index member: NWST1100, NWSM200, NWSCo100, NWSDM100
2100NEWS DA Orderbook Quality Evaluation Grade: Extremely Weak, Score: 2 (Average for Coins: 15.6)

Luna Classic is the first native token of the Terra blockchain, released in August 2018. LUNC existed before the launch of the new chain — now branded Terra (LUNA) — and works with the original code of the Terra ecosystem. The primary function that the native token performed was to absorb the price deviation of the algorithmic stablecoin — $UST. The price of the UST stablecoin was pegged to the US dollar by minting and burning UST tokens to balance the supply and demand of the coin. In May 2022, UST lost its peg and collapsed. The UST stablecoin algorithm created trillions of LUNA tokens, fell into a hyperinflationary spiral, and reduced the value of the original LUNA token by 99%.

Terra (LUNA) and Terra Classic (LUNC) have the right to exist due to the implementation of a proposal called Terra Ecosystem Revival Plan 2. The essence of the plan is to split the current blockchain through forking,  creating a new chain in the ecosystem, and preserving the previous version. According to the recovery plan, the existing chain and token have been rebranded as Terra Classic. The new LUNA tokens were airdropped to existing holders of LUNA and UST before the depeg and the subsequent crash occurred.

 

The crypto markets trended sideways. The day’s top movers (at 9 am) were Wanchain and Mirror Protocol, soaring 66.65% since midnight. Over the last 24 hours, the 2100NEWS Total Index (NWST1100), which measures 1100 significant (by market capitalization) crypto assets’ performance, has fallen 0.11%, while Bitcoin has risen by 0.11% and Ether by 0.10%.

 

MIR

Mirror Protocol (MIR)

2100NEWS ranking: 492, Small cap Ethereum-based Token, Index member: NWST1100, NWSS300
2100NEWS DA Orderbook Quality Evaluation Grade:  Good, Score: 15.7 (Average for Small caps: 9.8)
Warning: Mirror Protocol stopped functioning on 26 Aug 2022 due to the lack of price feed support

The mirror is a DeFi protocol powered by smart contracts on the Terra network that enables the creation of synthetic assets called Mirrored Assets (mAssets). mAssets mimic the price behavior of real-world assets and give traders anywhere in the world open access to price exposure without the burdens of owning or transacting real assets. The minting of mAssets is decentralized and is undertaken by users throughout the network by opening a position and depositing collateral. Mirror ensures that there is always sufficient collateral within the protocol to cover mAssets, and also manages markets for mAssets by listing them on Terraswap against UST.

 

WAN

Wanchain (WAN)

2100NEWS ranking: 312, Small cap, Index member: NWST1100, NWSS300, NWSCo100
2100NEWS DA Orderbook Quality Evaluation Grade: Good, Score: 19.8 (Average for Coins: 15.6)

Wanchain is a distributed ledger that: achieves the interconnection and interoperability between different blockchain networks, completes records of cross-chain transactions, and maintains cross-chain transaction details. Wanchain supports cross-chain transactions between mainstream public chains, between private chains, and between public and private chains.

 



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