Movers of the Day 17-Oct-2023

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

Top movers of the day are Orbs and WAX which has increased by 1.44% since 7 pm. Orbs is 2.54% higher.

Most crypto markets finished the day lower as illustrated by an adjacent chart showing the movement of the NWSBCT Index (Blue Chips) over the past 24 hours. The large caps measured by 2100NEWS 100 Large Cap Index (NWSL100) ended -1.47%. 2100NEWS Total Index (NWST1100) ended -0.65%. Ether ended -1.74% while Bitcoin ended +0.27%.

The criteria by which these specific cryptocurrencies and indices have been highlighted are detailed in supplemental notes. The provided data offers a snapshot until midnight in the last 24 hours. Therefore, it may not accurately represent the current market conditions at the time of your inquiry.

WAX (WAXP)

WAX is a distributed system allowing everyone to freely generate a fully functioning digital marketplace in security, infrastructure, or payment processing. With the WAX Platform, millions of dealers are enabled to carry out instant and reliable transactions. WAX is managed by the founders of OPSkins, one of the world’s leading marketplaces for online video game assets, with the target of serving more than 400 million gamers who have already obtained and trade in-game items. Blockchain technology allows WAX Tokens to offer users a decentralized network where virtual goods can easily be tokenized and converted to digital coins. All in all, with the WAX Platform, millions of traders can carry out instant and secure transactions.

7:10 p.m. update: Top movers of the day are Orbs and WAX. Since 2 pm Orbs has increased by 11.28%, WAX is 10.80% higher. Bounce Token has increased by 7.88%.

The crypto markets trended sideways. In the last 24 hours the large caps measured by 2100NEWS 100 Large Cap Index (NWSL100) have decreased by 0.43%. Moreover, the mid caps represented by 2100NEWS 200 Mid Cap Index (NWSM200) have fallen by 0.79%. On the other hand Bitcoin has increased by 1.70% while Ether is slightly lower (-0.03%).

Orbs (ORBS) 

Orbs is a public blockchain infrastructure designed for enterprises. Unlike private and permissioned blockchain solutions typically used for enterprise, the Orbs infrastructure is open and permissionless. The Orbs protocol is decentralized and executed by a public network of permissionless validators using Proof-of-Stake consensus. The Orbs protocol relies on the ORBS token used for the settlement of fees related to app execution. It provides the system of incentives used to elect validators in a secure and decentralized manner.

Top Movers of the Day (at 2 p.m. update):

• MX TOKEN and Orbs: These two are the clear front-runners in today’s market, showcasing significant gains within the last 24 hours as of the 2 p.m. update.
• Bitcoin SV marking its impact since the 9 a.m. update, Bitcoin SV has registered a rise of 5.58%.

Overview:  The crypto market showcased an evident spike around 3 p.m. during the prior 24 hours. However, this momentum couldn’t be sustained. Following this event, the market exhibited a predominantly lateral motion, indicating a stable yet inactive trend.  NWSBCT Index for Blue Chips: This index represents the major and more established cryptocurrencies, also called “Blue Chips,” in the crypto community. The NWSBCT underwent a swift spike in value at approximately 3 p.m. Unfortunately, this was short-lived as the value plummeted to its previous levels shortly after. Post this event, the index entered a slow decline, but nothing too severe.  2100NEWS Total Index (NWST1100): Representing a broad spectrum of the crypto market, this index tracks 1100 significant cryptocurrencies based on their market cap. It has risen by 1.21% over the last 24 hours. Bitcoin and Ether:  Bitcoin has performed better than Ether, with a rise of 2.59% compared to Ether’s slight increase of 0.15% within the same timeframe.

Bitcoin SV (BSV)

Bitcoin SV stands for Satoshi Vision. Stemming from Bitcoin Cash, BSV is a hard fork (community-activated update to the protocol or code) established as distinct from BCH after the network upgrade scheduled for November 15th, 2018, resulting in a hash war determining the chains would be split. According to their website, the Bitcoin SV project is primarily backed by CoinGeek Mining, with development work by nChain.

Top Movers of the Day (at 9 a.m. update):

• 0x Protocol and Orbs: Both have shown notable gains and are the standout performers in the last 24 hours as of the 9 a.m. update.
• Orbs skyrocketed by 43.89% since midnight, highlighting its strong momentum.

Overview:  The cryptocurrency realm has largely remained stagnant, exhibiting a sideways motion over the previous 24 hours. However, there was a noticeable price spike around 3 p.m., followed by a drop, indicating some volatility.

1. NWSBCT Index for Blue Chips: This index represents the major and more established cryptocurrencies, also called “Blue Chips,” in the crypto community. The NWSBCT started relatively stable; a noticeable price spike occurred around 3 p.m., swiftly followed by a drop. It has since stabilized with a slight decline.
2. 2100NEWS Total Index (NWST1100): Representing a broad spectrum of the crypto market, this index tracks 1100 significant cryptocurrencies based on their market cap. It has risen by 0.67% over the last 24 hours.
3. Bitcoin and Ether: Ether had a modest 0.39% growth, while Bitcoin demonstrated a superior performance compared to Ether, recording a 1.24% rise in the past 24 hours.

UMA (UMA)

UMA is designed to power the financial innovations made possible by permissionless, public blockchains like Ethereum. UMA defines an open-source protocol that allows any two counterparties to design and create their own financial contracts using fiat financial derivatives concepts. But unlike traditional derivatives, UMA contracts are secured with economic incentives alone, making them self-enforcing and universally accessible.

0x (ZRX)

0x is a protocol that facilitates the peer-to-peer exchange of Ethereum-based assets. The protocol serves as an open standard and common building block for any developer needing exchange functionality. 0x provides secure smart contracts that are externally audited, developer tools tailored to the 0x ecosystem, and open access to a pool of shared liquidity. Developers can integrate with 0x at the smart contract or application layer.