Cryptos down, precious metals soar

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The crypto market was in the red over the past 24 hours and the majority of top 10 cryptos registered declines this morning. 

US stocks slipped yesterday as the Russia-Ukraine war entered its eighth day. Alongside the conflict in Europe, Wall Street may be impacted by the NFP report and other job data, to be released today at 13:30 GMT.

Metal prices are soaring as concerns grow that the Russia-Ukraine war will disrupt supply. Gold (+0.42%), copper (+2.29%), palladium (+3.65%), aluminum (+5.46%), platinum (+0.51%) and nickel (+4.89%) all ticked higher.

Top cryptos

Bitcoin was down more than 4% at time of writing, priced slightly above $41,000. Other noticeable declines include Ethereum, which fell 6% and Solana, which was down more than 7%.

The live Cosmos price today is $33.55 with a 24-hour trading volume of $1.8 billion. The 20th biggest coin by market cap has gained around 4% in the last 24 hours. 

Top movers

Most top 100 coins lost 2-5% of their value today. Notable declines here included Internet Computer (-8%), VeChain (-9%), Theta Network and Dash (-7% each), and Helium (-9%).

Convex Finance is beginning to shed recent gains. It rose by more than 40% two days ago. Today, it’s down 8%.

Waves, the Ukrainian-born token, continues to rally. It’s up around 3% today.

The biggest mover of the day is UMA. Known as Universal Market Access, this is a protocol for the creation of synthetic assets based on the Ethereum blockchain. UMA was launched in December 2018.

UMA added 73% to its value on Tuesday. It’s now in the top 100, ranking at #97, and added 14.89% to its value today. Its price has more than doubled in the past 7 days.          

Trending

Kasta is an ecosystem enabling fast and free crypto transfers. Its eponymous token added 46% to its value today after an announcement that Kasta has launched beta testing of its app.

WadzPay Token, an ecosystem with smart contract-based fund disbursement methodology, has gained 36% in 24 hours. The native token WTK is about to break $0.1, possibly on news that the company is hiring 200 people for its new office in Singapore, which it opened last month.

GFI is the native token of Goldfinch, a decentralized credit protocol for crypto loans without crypto collateral. At the time of writing, it had added 22%, reaching $3.78. 



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