Movers of the Day 11-Dec-2023

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

Top movers of the day are BENQI and Injective. Since 7 pm BENQI has increased by 6.09%, Injective by 4.12%.

In the evening the crypto markets stopped falling but nevertheless they finished the day deep down. Today’s crypto market movement is illustrated by an adjacent chart showing the movement of the NWSBCT Index (Blue Chips) over the past 24 hours. 2100NEWS Indices ended between -4.40% and -6.41%. 2100NEWS Total Index (NWST1100) ended -5.71%. Bitcoin ended -5.69%, Ether ended -6.39%.

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

Injective (INJ)

Injective Protocol is a fully decentralized layer-2 DEX protocol built for the next generation of decentralized derivatives exchange. The Injective Chain is a Tendermint-based IBC-compatible blockchain that supports a decentralized order-book-based DEX protocol and a trustless ERC-20 token bridge to the Ethereum blockchain. It is the first layer-2 fully decentralized exchange protocol for decentralized perpetual swaps, futures, and spot trading that unlocks the full potential of decentralized derivatives and borderless DeFi. Every protocol component has been built to be fully trustless, censorship-resistant, publicly verifiable, and front-running resistant.

7:10 p.m. update: Top movers of the day are BENQI and Amp which has increased by 4.11% since 2 pm. BENQI is 2.68% higher.

In the afternoon the crypto markets were still down. Since 2 pm 2100NEWS Indices have fallen between 0.96% and 1.97%. 2100NEWS Total Index (NWST1100) has decreased by 1.75%. Similarly, Ether has fallen by 1.74%, Bitcoin even by 2.02%.

Amp (AMP)

Amp is the new digital collateral token offering instant, verifiable assurances for any kind of value transfer. Using Amp, networks like Flexa can quickly and irreversibly secure transactions for various asset-related use cases. Amp claims to offer a straightforward but versatile interface for verifiable collateralization through a system of collateral partitions and collateral managers. Where collateral partitions can be designated to collateralize any account, application, or even transaction and carry balances directly verifiable on the Ethereum blockchain, collateral managers are smart contracts that can lock, release, and redirect collateral in these partitions as needed to support value transfer activities. Amp supports a wide variety of use cases for collateralization and also introduces the concept of predefined partition strategies, which can enable special capabilities such as collateral models through which tokens can be staked without ever leaving their original address.

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

• BENQI and VeThor Token: These two cryptocurrencies have experienced substantial gains over the last 24 hours, with VeThor Token notably soaring 51.27% since the morning update, positioning it as a standout performer of the day.

Overview: However, despite some areas of buying interest, the overall market sentiment is still bearish, with the crypto market displaying signs of a modest recovery after a significant sell-off. NWSBCT Index for Blue Chips: Focusing on the more established cryptocurrencies, colloquially known as the “Blue Chips.” The NWSBCT Index has reflected this downtrend with a sharp decline around 1 a.m., attempting to find stability amid market fluctuations. The 2100NEWS Indices, which track the performance of various groups of tokens and coins, report drops ranging from -2.91 to -5.79% since midnight, suggesting a broad market pullback. 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 plummeted 3.72% in the last 24 hours, indicating a widespread downturn across the crypto market. Bitcoin and Ether have experienced significant declines, with Bitcoin falling by 3.83% and Ether by 4.57%.

VeThor Token (VTHO)

As a leading enterprise-friendly public blockchain platform, VeChain began in 2015. It aims to connect blockchain technology to the real world by providing enterprises with blockchain solutions suitable for their business needs and building a trust-free and distributed business ecosystem platform for business value. VeChain ToolChain™, a one-stop data BaaS platform, VeChain will continue to promote the large-scale application of blockchain technology, help enterprise clients in digitalization transformation, and eventually realize the long-term vision of enabling the real economy.

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

• BENQI and Amp: These two cryptocurrencies have experienced substantial gains over the last 24 hours, with BENQI notably soaring 86.69% since midnight, positioning it as a standout performer of the day.

Overview: The crypto market experienced a significant selling event after a period of stability, leading to a rapid decrease and subsequent volatility as participants searched for a new price balance.

1.  NWSBCT Index for Blue Chips: Focusing on the more established cryptocurrencies, colloquially known as the “Blue Chips.” The NWSBCT Index has reflected this downtrend with a sharp decline around 1 a.m., followed by an attempt to stabilize amid ongoing market fluctuations.
2. The 2100NEWS Indices, which track the performance of various groups of tokens and coins, report drops ranging from -4.17 to -6.57% since midnight, suggesting a broad market pullback.
3.  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 plummeted 4.50% in the last 24 hours, indicating a widespread downturn across the crypto market.
4. Bitcoin and Ether have both seen substantial declines, with Bitcoin plummeting by 4.14% and Ether by 4.90%, highlighting a bearish trend among the leading cryptocurrencies.

BENQI (QI)

BENQI is a suite of decentralized finance protocols built on Avalanche. It consists of the BENQI Markets, BENQI Liquid Staking and Ignite. BENQI Markets enables users to effortlessly lend, borrow, and earn interest with their digital assets. Depositors providing liquidity to the protocol make yield, while borrowers can borrow in an over-collateralized manner. BENQI Liquid Staking is an Avalanche liquid staking solution that tokenizes staked AVAX. By tokenizing AVAX through liquid staking, users can use, swap, or collateralize the yield-bearing asset within Decentralized Finance applications.