What liked, what trembled (trembled, even) in the volatile cryptoversum when we go into the weekend? Let’s find out …
On a day when Reddit (one of the largest social platforms for crypto investors) announced it was going public, the crypto market collapsed … and again … and sideways.
Uncertainty and, last but not least, fear still determine the mood for the time being. A decent pump and a resistance level or two got back on the charts for support ($ 53,000 BTC seems like one to watch out for) and things could change very quickly.
At the time of writing, the total market cap of cryptocurrencies is down 4.2 percent to around $ 2.29 trillion which gives or takes a few hundred billion dollars.
Top 10 overview
Here’s how it stood in the top 10 by market cap at press time, according to CoinGecko data. (Of course, the usual caveat: this could be very different by the time you’re reading this.)
As you can see from above, the top 10 biggest promotion right now is at the bottom of the list.
One step higher since yesterday at this time, avalanche (AVAX) continues its rise. And it seems that the influential Andre Cronje, a well-known DeFi architect within the phantom (FTM) ecosystem and the creator of longing. finances (YFI), is a fan of the smart contract protocol du jour …
I am honestly so happy that @avalancheavax is getting recognition. It’s one of the few tech games that I respect in a sea of fork scams with manipulative marketing. @kevinsekniqi @ el33th4xor seriously, I only wish you the best!
– Andre Cronje (@AndreCronjeTech) December 17, 2021
As with the competing Layer 1 platform Speckle (DOT), there is no reason we should be losing ground right now. As with all top cryptos right now, HODLers may just have to be patient.
December 18th at 6:00 p.m. EST, tune in the #PolkadotParachainParty to celebrate the final stage of the Polkadot launch with the top five Parachain auction winners: @AcalaNetwork, @MoonbeamNetwork, @AstarNetwork, @ParallelFi and @ clover_finance.
To join the party: https://t.co/qxLTHEzUD5
– Polkadot (@Polkadot) December 16, 2021
Further to Bitcoin (BTC) … it’s like a sushi chef chopped for speed today. It was down $ 45,700 recently, and we’re now back in the $ 47,000 area.
Bullish or Bearish? It seems that opinions among traders and analysts are more divided than ever now …
$ BTC Bull Market # Bitcoin continues to hold the 200-day SMA as support. Traditionally, this indicates that an asset is in a bull market.
Do you think we are still in a #BTC bull market? pic.twitter.com/rihkpC29WZ
– Bitcoin Charts (@charts_bitcoin) December 17, 2021
Unfortunately, it looks like a fakeout is in the works.
I am currently seeing a raised floor setting as H4 has not closed under the support. I would use serious RM here as these liquidation cascades continue. #Bitcoin #cryptocurrency #cryptotrading #cryptonews pic.twitter.com/65AeCQW81m
– Roman (@Roman_Trading) December 17, 2021
Reduce or Enlarge? As Trader Roman concluded above, risk management prioritization may not be a bad name. That way, you can feel more comfortable while zooming out …
Michael Saylor: Microsoft has been quite successful without an investment from Berkshire Hathaway.
Just because successful investors aren’t taking #Bitcoin doesn’t mean it won’t grow.
– Bitcoin archive 🗄🚀🌔 (@BTC_Archive) December 17, 2021
Winners and losers: 11–100
In the rest of the top 100, let’s cover roughly $ 25 billion to $ 1 billion in market cap and find some of the biggest 24-hour winners and losers – as of press time.
• Arweave (AR), (Market Cap: $ 1.6 billion) + 11%
• Convex finance (CVX), (mc: $ 1.37 billion) + 7%
• Curve (CRV), (mc: 1.68 billion USD) + 7%
• helium (HNT), (mc: US $ 3.5b) + 6%
• Forehead (CELO), (mc: 1.46 billion USD) + 5%
• Vicinity (NEAR), (Market Cap: $ 5.06 billion) -11.5%
• Kadena (KDA), (mc: 1.86 billion USD) -10%
• Olympus (OHM), (mc: $ 2.05 billion) -10%
• Elrond (EGLD), (mc: $ 5.44 billion) -8.5%
• Tezos (XTZ), (mc: $ 3.73 billion) -7.5%
Small capitalization winners and losers
Below the crypto unicorns (sometimes far below) just a small selection that catches our eye …
• longing. finances (YFI), (Market Cap: $ 997 million) + 21%
• Happy (COS), (mc: $ 110 million) + 20%
• Mithril (MITH), (mc: $ 45.5 million) + 19%
giga bullish $ YFI in the next few months after the news of the tokenomics revision
solid flip from 25k here and should be a quick run to 35k + https://t.co/g2qcLgGj6H pic.twitter.com/4YXsRgkgAg
– Cuban (@cubantobacco) December 17, 2021
• Victoria VR (VR), (Market Cap: $ 262M) -16%
• TronPad (TRONPAD), (mc: $ 55.7 million) -16%
• Clover finances (CLV), (mc: USD 171 million) -14%
With Clover Finance just finishing fifth in the coveted Parachain auctions of the Polkadot ecosystem, this seems like a classic case of “sell the news” for traders messing around with CLV.
🍀 Clover just won the 5th #Polkadot Parachain auction!
1 / With over $ 9.7 million DOT from more than 11,000 contributions, we would like to thank everyone who has supported us on this journey. We are so HAPPY to have your support! https://t.co/2Bxepaxpik
– Clover Finance (@clover_finance) December 16, 2021
Get the latest Stockhead news delivered to your inbox for free.
It’s free. Sign out whenever you want.
This might interest you