The crypto market notably reversed yesterday’s deeply bearish trend with most cryptos in the green at the time of writing.
Bitcoin added more than 3% to its value today, currently trading for $40,500. Ethereum is up by over 5%. Other gainers include Terra and NEAR Protocol, whose tokens LUNA and NEAR are each up 7%.
The biggest top 20 winner by far is Dogecoin. It rallied 26% after Elon Musk’s offer to buy Twitter was accepted. The eccentric billionaire is taking the social media giant private.
Dogecoin’s role as a payment method in it is expected to become far more significant. Shiba Inu also registered gains, albeit more modest ones of around 5%.
Top 100 cryptos are in the green with very few exceptions. Most added 3-6% to their value in the last 24 hours.
More notable gainers include THORChain, Kadena and KNC with 9% each, The Graph with 14%, Oasis with 15%, and Synthetix at #100 with 11%.
Why the surge of Oasis?
To celebrate Oasis’ Mainnet upgrade Fountain Protocol, a lending platform on the blockchain, launched an airdrop with a total prize pool of 40,000 $ROSE and 400,000 $FTP. This event, in which these funds are being given out to participants, ends today.
The reason for Synthetix’ surge could be its recently announced launch of liquidity incentives on Layer-2 Optimism. The ecosystem has allocated 12,000 SNX per week to incentivize voting for the sUSD Curve pool.
NEM and Amp are among the few losers, each down 2%. PanCake Swap shed 4% of its value in the last 24 h. All stablecoins are down, possibly signifying a retreat in USD value.
Predictably, the biggest gainer is ELON BUYS TWITTER, which we introduced in yesterday’s recap. The newly created token on Binance Smart Chain (created by and for meme artists) gained a whopping 3,063% in the last 24 h.