3 Biggest Crypto Movers Of The Day

Bitcoin (BTC) is nearing last week’s high of $45,785, rising 4.3% to $44,362. It appears reports of Russian troops leaving the Ukrainian border boosted investor sentiment though funding rates (periodic payments made to either long or short traders) on major exchanges have remained largely below neutral this week amid the geopolitical and macroeconomic uncertainties, according to crypto analytics firm Arcane Research.

Still, thanks to the recent gains, bitcoin’s dominance, a reference to the ratio between the market capitalization of bitcoin to the rest of the cryptocurrency market, has risen from 39% at the beginning of January to the current 42.4% – the highest level in four months, Arcane’s analysts note.

In line with the rest of the digital assets market, ether (ETH) added 5.93% over the past day and is trading at $3,112. 

Leaders and Laggards: Featuring the best and worst-performing assets of the past 24 hours among the 85 largest cryptocurrencies by market capitalization tracked by Forbes. For more information, read this quick Forbes Digital Assets guide.

Among today’s most notable leaders is MATIC, the token powering Ethereum’s popular scaling layer Polygon. The cryptocurrency has surged 9.23%. A few days ago, the project raised $450 million in its first major financing round from Sequoia Capital India, SoftBank Vision Fund 2, Galaxy Digital, and a few other high-profile investors.

The privacy-focused cryptocurrency Zcash is strengthening in a similar fashion. The project’s shift towards the proof-of-stake consensus mechanism and compliance directives has been gaining wider support from market participants.

Among the laggards, the Huobi Token, a digital asset issued by the operator of the Huobi cryptocurrency exchange, Huobi Group, is showing modest gains of 0.36% over the past 24 hours.

Further leads:

How Azukis Suddenly Became The World’s Best-Selling NFT Collection

Number of Ethereum Addresses Holding 0.1 ETH Hits All Time High

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