Cryptos down, precious metals soar

The crypto market was in the red over the past 24 hours and the majority of top 10 cryptos registered declines this morning. 

US stocks slipped yesterday as the Russia-Ukraine war entered its eighth day. Alongside the conflict in Europe, Wall Street may be impacted by the NFP report and other job data, to be released today at 13:30 GMT.

Metal prices are soaring as concerns grow that the Russia-Ukraine war will disrupt supply. Gold (+0.42%), copper (+2.29%), palladium (+3.65%), aluminum (+5.46%), platinum (+0.51%) and nickel (+4.89%) all ticked higher.

Top cryptos

Bitcoin was down more than 4% at time of writing, priced slightly above $41,000. Other noticeable declines include Ethereum, which fell 6% and Solana, which was down more than 7%.

The live Cosmos price today is $33.55 with a 24-hour trading volume of $1.8 billion. The 20th biggest coin by market cap has gained around 4% in the last 24 hours. 

Top movers

Most top 100 coins lost 2-5% of their value today. Notable declines here included Internet Computer (-8%), VeChain (-9%), Theta Network and Dash (-7% each), and Helium (-9%).

Convex Finance is beginning to shed recent gains. It rose by more than 40% two days ago. Today, it’s down 8%.

Waves, the Ukrainian-born token, continues to rally. It’s up around 3% today.

The biggest mover of the day is UMA. Known as Universal Market Access, this is a protocol for the creation of synthetic assets based on the Ethereum blockchain. UMA was launched in December 2018.

UMA added 73% to its value on Tuesday. It’s now in the top 100, ranking at #97, and added 14.89% to its value today. Its price has more than doubled in the past 7 days.          

Trending

Kasta is an ecosystem enabling fast and free crypto transfers. Its eponymous token added 46% to its value today after an announcement that Kasta has launched beta testing of its app.

WadzPay Token, an ecosystem with smart contract-based fund disbursement methodology, has gained 36% in 24 hours. The native token WTK is about to break $0.1, possibly on news that the company is hiring 200 people for its new office in Singapore, which it opened last month.

GFI is the native token of Goldfinch, a decentralized credit protocol for crypto loans without crypto collateral. At the time of writing, it had added 22%, reaching $3.78.