Mooners and Shakers: Crypto market climbs as Russia hints at partial military pullback –


The crypto market has managed to rally back up above US$44k at the time of writing, in step with a strong Tuesday opening in the US stock markets.

Those looking for fundamental reasons for the positive price action have been eyeing a couple of possible things… One being some subsiding fears today of a Russian invasion of Ukraine (although that’s obviously an ongoing, fluid and highly volatile situation).

And another being responses to Canada’s plan to include crypto transactions in tighter surveillance measures amid alternative funding efforts for the Freedom Convoy protests.

According to a Cointelegraph article, as well as various Twitter posts we’ve seen on the topic (including one from El Salvador’s president), the Trudeau government stance seems to be inadvertently fuelling the idea of Bitcoin and crypto being “unstoppable money”.

Meanwhile, fundamentals aside, here’s the bullish take from some full-time crypto chart watchers, including Rekt Capital and Wall Street trader turned Bitcoin analyst Eric Crown…

Even the recently bearish-leaning “Roman Trading” is looking at a bullish scenario right now for Bitcoin, albeit with a pretty strong caveat about weak volume, which might yet throw a spanner in the works…

 

Top 10 overview

With the overall crypto market cap up about 5% over the past 24 hours, here’s the state of play in the top 10 by market cap right now – according to CoinGecko data.

Source: CoinGecko.com

So, sure, Bitcoin’s travelling reasonably well today but it’s also a “layer 1” kinda day, with Avalanche (AVAX), Binance Coin (BNB), Ethereum (ETH), Solana (SOL) and Cardano (ADA) all stealing the show somewhat among the top 10 coins.

 

Winners and losers: 11–100

Sweeping a market-cap range of about US$21.5 billion to about US$1 billion in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time.

DAILY PUMPERS

The Graph (GRT), (market cap: US$2.95 billion) +18%

Kadena (KDA), (mc: US$1.4b) +15%

• Gala Games (GALA), (mc: US$2.55b) +14.5%

• Secret (SCRT), (mc: US$1b) +12%

Juno (JUNO), (mc: US$1.2b) +11.5%

 

DAILY SLUMPERS 

Got a big bag of nothing for you here at the time of writing. Every coin in the top 100 worth mentioning is in the green just now.

 

Lower-cap winners and losers

Moving below the crypto unicorns (in some cases well below), here’s just a selection catching our eye…

DAILY PUMPERS

• Retreeb (TREEB), (market cap: US$88m) +36%

• Fancy Games (FNC), (mc: US$29m) +33%

Platypus Finance (PTP), (mc: US$66.5m) +32%

Quantstamp (QSP), (mc: US$55m) +22%

DeRace (DERC), (mc: US$63.5m) +22%

 

DAILY SLUMPERS

Feg Token (FEG), (market cap: US$263 million) -9%

• Luna Rush (LUS), (mc: US$26m) -7%

SuperRare (RARE), (mc: US$97m) -5%

• Pegaxy (PGX), (mc: US$31.6m) -5%

• Unifty (NIF), (mc: US$21m) -4%

 

Final words

Some keen observations here from full-time, US-based crypto analyst and trader Justin Bennett, who is pointing to a potential “macro shift” for both Bitcoin and the US dollar…

“Remember, Bitcoin has never existed during a long-term USD downtrend,” continues Bennet. “Things are about to get interesting.”

 

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