Movers of the Day 18-Jan-2024

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

Top Movers of the Day:

• UMA and LCX: These cryptocurrencies have grown remarkably over the past day. UMA has soared 33.91% since the 7 p.m. update.

Overview: In the past 24 hours, the cryptocurrency market has undergone a significant downward shift.  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 trend. 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 plunged by 3.20% in the last 24 hours, indicative of the general downward trend in the market. Bitcoin and Ether: Ether has experienced a drop of 2.04%, whereas Bitcoin has faced a steeper plunge of 3.05% over the previous 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.

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.

Top Movers of the Day (at 7 p.m. update):

• LCX and Gas: These cryptocurrencies have stood out as the day’s top performers, showcasing significant gains over the past 24 hours.
• Ribbon Finance has increased by 5.53% since the 2 p.m. update.

Overview: Despite these individual successes, the broader cryptocurrency market has plunged in the past 24 hours.

1. NWSBCT Index for Blue Chips: Focusing on the more established cryptocurrencies, colloquially known as the “Blue Chips.” The index has notably declined, mainly after 4 p.m., signaling a widespread retreat from earlier market positions.
2. The 2100NEWS Indices, which track the performance of various groups of tokens and coins, have reported losses ranging from -2.07% to -5.09% since midnight.
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 plunged by 2.34% in the last 24 hours.
4. Bitcoin and Ether: Bitcoin has fallen by 1.45%, and Ether is more pronounced by 2.02% over the 24 hours.

Ribbon Finance (RBN)

Ribbon Finance is the governance token of Ribbon Finance, a new protocol that helps users access crypto-structured products for DeFi. It combines options, futures, and fixed income to improve a portfolio’s risk-return profile. Ribbon uses financial engineering to create structured products that deliver sustainable yield, and Ribbon’s first product focuses on yield through automated options strategies. The protocol also allows developers to create arbitrarily structured products by combining various DeFi derivatives.

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

• Gas and LCX: These cryptocurrencies have stood out as the day’s top performers, showcasing significant gains over the past 24 hours.
• Conflux has risen by 16.02% since the morning update.

Overview: The crypto market has experienced significant volatility with a slight downward trend over the last 24 hours. NWSBCT Index for Blue Chips: Focusing on the more established cryptocurrencies, colloquially known as the “Blue Chips.” After maintaining a level above 5.04 for some time, the index took a steep drop, going below the 5.00 mark, which could indicate a strong sell-off or market-wide bearish sentiment. The 2100NEWS Indices, which track the performance of various groups of tokens and coins, have reported losses ranging from -0.61% to -2.80% since midnight. They have echoed the sentiment with various losses, marking a day of contraction across tokens and coins.  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 by 1.60% in the last 24 hours. Bitcoin and Ether have not been spared in this downturn. Bitcoin’s value saw a reduction of 0.70%, while Ether experienced a more pronounced decline of 1.42%.

Conflux (CFX)

Conflux Network is a token of Conflux Network. Conflux Network is an open network built to drive the next generation of global commerce by unlocking tomorrow’s decentralized applications and digital assets. Conflux enables a secure and interoperable flow of assets and data across protocols & applications to create an internet of value for all. The public, permissionless blockchain is powerful and developer-friendly. Conflux delivers a robust network with solidity compatibility, zero congestion, and low fees by integrating Proof of Work into a Tree Graph architecture.

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

• Gas and Pocket Network: These cryptocurrencies have outperformed others with significant gains over the past 24 hours.
• LCX has surged by 23.92% since midnight.

Overview: The crypto market has trended sideways in the past 24 hours.

1. NWSBCT Index for Blue Chips: Focusing on the more established cryptocurrencies, colloquially known as the “Blue Chips.” The index has reflected the overall market trend.
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 slightly increased by 0.26% in the last 24 hours.
3. Bitcoin and Ether: Bitcoin has seen a slight increase of 0.32%. Conversely, Ether experienced a drop of 0.80% over the 24 hours.

LCX (LCX)

LCX, the Liechtenstein Cryptoassets Exchange, aims to become one of the world’s first licensed and supervised security token exchanges. The initial product is LCX Terminal, a crypto trading desk to trade on significant crypto exchanges within a single interface. In November 2018, LCX claimed to have been granted a Business License from the Liechtenstein Ministry of Economic Affairs. LCX AG was founded in April 2018 and is headquartered in the Principality of Liechtenstein.

ApeCoin (APE)

The APE Foundation is the steward of ApeCoin. It is not an overseer but the base layer on which ApeCoin holders in the ApeCoin DAO can build. The Foundation facilitates decentralized and community-led governance and is designed to become more decentralized over time. It is tasked with administering the decisions of the ApeCoin DAO. It is responsible for day-to-day administration, bookkeeping, project management, and other tasks that ensure the DAO community’s ideas have the support they need to become a reality. The goal of the APE Foundation is to steward the growth and development of the APE ecosystem fairly and inclusively. It utilizes the Ecosystem Fund, controlled by a multi-sig wallet, to pay its expenses as directed by the ApeCoin DAO. It also provides an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.