Cryptos Attempt A Rebound

Cryptocurrencies staged a comeback early on Tuesday, lifting market capitalization to $1.03 trillion versus $1.01 trillion a day earlier. The uptick is amidst the Wall Street Futures trading in negative territory and the Dollar Index hitting the red zone.

Barring the stablecoins, all the cryptocurrencies are trading in the green zone, except for except a few viz 92nd ranked Celsius (CEL) which has shed 13 percent, 83rd ranked Trust Wallet Token (TWT) as well as 99th ranked XDC Network (XDC) which have both lost more than 1 percent and 41st ranked Hedera (HBAR) which has edged down 0.50 percent.

39th ranked Chiliz (CHZ) is the biggest gainer with an overnight rally of more than 22 percent. Chiliz, the digital currency for Socios.com, a blockchain based sports entertainment platform had recently obtained regulatory approval in Italy as a service provider of virtual currencies and digital wallets. CHZ has gained 16 percent in the past week and 122 percent in the 30-day horizon.

33rd ranked EOS (EOS), a crypto coin tagged to the Smart Contracts category rallied 17 percent in the past 24 hours. EOS has gained 38 percent in the past week and 47 percent in the 30-day horizon. The price uptick is attributed to the much-awaited hard fork and rebrand of the open-source blockchain platform. The EOS crypto coin currently commands a market cap of close to $2 billion.

68th ranked Curve DAO Token (CRV), 23rd ranked Cosmos (ATOM), 67th ranked Lido DAO (LDO) and 29th ranked Bitcoin Cash (BCH), have also gained more than 12 percent on an overnight basis.

Bitcoin has edged up 1.2 percent in the past 24 hours to trade at $21,450.51. The leading cryptocurrency’s 24-hour trading range was between $20,955.14 and $21,521.70. Almost 47 percent of Bitcoin holders continue to be out of money at current prices.

Ethereum rallied close to 4 percent overnight. It is currently trading at $1,621.49 after ranging between $1,553.45 and $1,632.75 in the past 24 hours. 43 percent of Ether holders are making losses at current prices.

3rd ranked Tether (USDT), traded between $1 and $0.9999 in the past 24 hours. 4th ranked USDCoin (USDC), traded between $1.00 and $0.9997 in the past 24 hours.

5th ranked BNB (BNB) edged up 0.8 percent overnight to trade at $297.15.

Binance USD (BUSD), ranked 6th overall also traded between $1.00 and $0.9997.

7th ranked XRP (XRP) added 1.7 percent overnight. 8th ranked Cardano (ADA), gained close to three percent overnight.

9th ranked Solana (SOL) and 10th ranked Dogecoin (DOGE) are both trading with gains of more than 2.5 percent.

Overall crypto market capitalization is currently at $1.02 trillion. According to the ranking of all assets by market capitalization published by companiesmarketcap.com, only Gold (market cap: $11.5 trillion), Apple (market cap: $2.7 trillion), Saudi Aramco (market cap: $2.3 trillion), Microsoft (market cap: $2.1 trillion), Alphabet (market cap: $1.5 trillion), Amazon (market cap: $1.4 trillion) and Silver (market cap: $1.1 trillion) rank higher than the overall crypto market cap.

In the same rankings, Bitcoin is positioned as 16th whereas Ethereum ranks 57th.

Within the overall crypto market, Smart Contracts market capitalization has gained 2.8 percent overnight to $294 billion. The category now commands close to 29 percent of the overall crypto market.

Stablecoins’ market cap remained steady at $153 billion, with a market dominance of close to 15 percent.

Centralized Exchange category cryptocurrencies which enjoy a market dominance of 6.2 percent gained 1 percent overnight to $64 billion.

DeFi market capitalization increased 2.4 percent to $55 billion. DeFi’s market share is around 5.5 percent of overall crypto market.

Web 3 category market capitalization increased 4.1 percent to $24 billion. Market capitalization of the NFTs & Collectibles category increased 3.4 percent overnight to $20 billion. Research category market cap also increased 2.3 percent overnight to touch $19 billion. The DAO category gained 4.5 percent overnight to reach a market cap of $17 billion.

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