Cardano recovers, Cosmos gains 18%, oil drops
The crypto market was mixed over the past 24 hours. Markets were reassured after President Joe Biden said the Omicron variant would not lead to shutdowns or lockdowns. Oil fell after OPEC vowed to maintain its commitment to raising oil production levels by another 400,000 a day in January despite widespread fears over Omicron.
Bitcoin was flat, trading at just under $57,000 at the time of writing. Ethereum saw minor gains, while XRP registered small losses. Cardano added around 9%, hopefully on the road to recovery after the underwhelming hard fork. Solana was seen approximately 2% higher.
Outside the top 20, Stellar and Cosmos climbed around 9% and 18% respectively. The price of Cosmos has increased by 255% since the beginning of the year. According to Coin Price Forecast, the Cosmos price will reach $37 by the end of this year. In the first half of 2022, it will climb to $54 and to $70 in the second half.
Oasis Network (ROSE), a privacy-focused layer 1 blockchain built for open finance and a responsible data economy, gained 12% today.
Ravencoin is a digital peer-to-peer (P2P) network that aims to implement a use case specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another. The coin, which was built on a Bitcoin fork, is up 10% today.
Privacy token Beam is up almost 31% in the last 24 hours. BEAM claims to have come up with innovative ways of increasing the anonymity of transactions, address balances and user identities.
The biggest winner today is GxChain. The community pumped the price of GxChain (GxChain 2.0) with no apparent end to its gains. It is trading for $4.44 today and its value has grown by 589% in the last 24 hours.