The crypto market is booming with all top 100 coins in the green at the time of writing.
Top Cryptos
Bitcoin has gained nearly 6% in the past 24 hours, trading above $30,000. The second largest crypto, Ethereum, added 8% to its value during this period and almost reached $2,000 per ether. The biggest gainer in the top 10 is Cardano, up 12%.
Cryptos outside the top 10 also fared very well. Avalanche, Polkadot, and Shiba Inu have all gained more than 10% today.
Top Movers
Outside of the top 20, the trend was similar, with many coins adding up to 15% to their value. Standouts include Helium with 20%, STEPN with 28%, Waves with 37%, and Arweave with gains of 18%.
On May 28, the Helium community launched a HIP 51 vote, which introduces a framework to unlock massive utility on the blockchain by enabling any network to join the ecosystem alongside IoT, such as 5G, Wi-Fi, and VPN.
STEPN drew the ire of Chinese regulators over data privacy concerns, but the associated losses were short-lived.
According to Business Insider, fitness tracking apps are known to be problematic from a privacy perspective, and for China, the crypto angle just makes it worse.
Waves is undoubtedly the biggest winner of the day. Its founder Sasha Ivanov tweeted about a liquidity crisis on Vires Finance, where several accounts were on the verge of default. This drove down the price of the Waves token a few days ago.
Ivanov then tweeted he planned to create a proposal on Vires that would move the debt and remaining collateral of these accounts to his own account, reversing the coin’s price trend.
At the time of writing, no crypto has lost value except for a few stablecoins losing up to a few cents. Efforts to save TerraUSD have failed and the market capitalization of this stablecoin no longer ranks it in the top 100.
The LUNA token of the new Terra 2.0 blockchain seemed promising when it launched on Saturday, but it lost over 70% within a day. It has been flat in the last 24 h, changing hands for around $6. The old LUNA, now LUNC, continues to decline.
Tendency
The biggest gainer today is Mercor Finance, which is trading at $0.0199, up 473% in the past 24 hours. This platform allows developers to create a trading algorithm coded in Python.
If they are happy with their creation, they can deploy the algorithm onto the platform.
