Movers of the Day 10-Jan-2024

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

Top Movers of the Day:

• Ethereum Name Service and HEX: These cryptocurrencies have grown remarkably over the past day.
• Bonk has surged by 24.41% since the 7 p.m. update.

Overview: The cryptocurrency market has been energized by a significant regulatory development. The U.S. Securities and Exchange Commission’s (SEC) approval of the Spot Bitcoin Exchange-Traded Fund (ETF) has sparked a sharp rally in the market. This key decision is viewed as a pivotal moment in the cryptocurrency sector. Ether has taken the lead in this market surge, driven by the anticipation that the approval of Spot Bitcoin ETFs sets a precedent for potential approvals of Spot Ethereum ETFs. This speculation has catalyzed a significant uptick in Ether’s value  NWSBCT Index for Blue Chips: Focusing on the more established cryptocurrencies, colloquially known as the “Blue Chips.” The index has mirrored the overall market’s positive trend, soaring in response to the recent developments. The 2100NEWS Indices, which track the performance of various groups of tokens and coins, have reported gains ranging from 1.98% to 7.74% since 7 p.m. 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 soared 4.82% in the last 24 hours. Bitcoin and Ether: Ether has been a standout performer, soaring 8.86%, while Bitcoin has also seen a healthy surge, increasing by 1.50% over the last day.

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.

Bonk (BONK)

BONK is the first dog-themed coin on Solana “for the people, by the people,” with 50% of the total supply of the cryptocurrency airdropped to the Solana community. BONK is similar to Shiba Inu (SHIB) and Dogecoin (DOGE) meme coin; it was launched on December 25, 2022, and led to an increase in the price of the SOL token (a rise of 34% in 48 hours). Trading began on December 30, 2022, arousing genuine interest from the crypto community. The team’s primary goal is to bring back liquidity to Solana-based decentralized exchanges (DEXs). The idea of the developers was to create a full-fledged community coin that would be used across all the dApps built on Solana, and each user would have the opportunity to become part of the ecosystem “where everyone gets a fair shot.”

7:10 p.m. update: Ethereum Name Service and Pendle are the top movers of the day. Since 2 p.m., Ethereum Name Service has increased by 10.52%, and Pendle is 6.42% higher. In the afternoon, the crypto markets moved up. Since 2 p.m., 2100NEWS Indices have grown up to 3.74%. 2100NEWS Total Index (NWST1100) is 3.48% higher. Similarly, Ether has increased by 3.47% and Bitcoin by 3.77%.

Ethereum Name Service (ENS)

The Ethereum Name Service is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS’s job is to map human-readable names like ‘alice.eth’ to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata. ENS also supports ‘reverse resolution,’ enabling metadata association such as canonical names or interface descriptions with Ethereum addresses. ENS has similar goals to DNS, the Internet’s Domain Name Service, but has significantly different architecture due to the capabilities and constraints provided by the Ethereum blockchain. Like DNS, ENS operates on a system of dot-separated hierarchical names called domains, with the domain owner having complete control over subdomains.

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

• Request and HEX: These cryptocurrencies have grown over the past 24 hours. The Request has surged by 23.30% since the morning update, marking a standout performance in today’s trading.

Overview: The cryptocurrency market, after maintaining a sideways trend earlier in the day, has experienced a downturn since 1 p.m. NWSBCT Index for Blue Chips: Focusing on the more established cryptocurrencies, colloquially known as the “Blue Chips.” The index has mirrored the market. The 2100NEWS Indices, which track the performance of various groups of tokens and coins, have reported losses ranging from -0.35% to -3.04% since midnight. 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 fallen 1.97% in the last 24 hours. Bitcoin and Ether: In a contrasting performance, Ether has notably outshone Bitcoin, registering a significant rise of 3.80%. Meanwhile, Bitcoin has experienced a notable plunge of 3.45% over the same period.

Request (REQ)

RequestNetwork is a decentralized network that enables anyone to request a payment securely. All of the information regarding the payment process is stored in a decentralized authentic ledger. Thanks to distributed blockchain technology, this process is cheaper, more straightforward, and more secure, allowing for a wide range of automation.

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

• Pendle and HEX: These cryptocurrencies have grown over the past 24 hours. HEX has soared 30.44% since midnight.

Overview: The cryptocurrency market has trended sideways and is abuzz with speculation as the SEC’s anticipated decision on approving spot Bitcoin ETFs approaches.

1.  NWSBCT Index for Blue Chips: Focusing on the more established cryptocurrencies, colloquially known as the “Blue Chips.” The index has trended sideways
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 fallen 1.6% in the last 24 hours.
3. Bitcoin and Ether: Ether has notably outperformed, registering a 2.74% surge. In comparison, Bitcoin has dropped by 2.20% over the last 24 hours.

HEX (HEX)

HEX is an ERC20 token launched on the Ethereum network. HEX is designed to be a store of value to replace the Certificate of Deposit as the blockchain counterpart of that financial product used in traditional financial markets. HEX is also designed to leverage the emerging DeFi (Decentralised Finance) ecosystem in cryptocurrencies within the Ethereum network. HEX uses the Ethereum network for the transaction layer (sending and receiving HEX tokens and interacting with the HEX smart contract). At the same time, the consensus code and staking mechanism are contained in the HEX smart contract.

Lido DAO (LDO)

Lido is a liquid staking solution for ETH backed by industry-leading staking providers. Lido lets users stake their ETH – without locking assets or maintaining infrastructure – while participating in on-chain activities, e.g., lending. Lido attempts to solve the problems associated with initial ETH staking – illiquidity, immovability, and accessibility – making staked ETH liquid and allowing for participation with any amount of ETH to improve the security of the Ethereum network.