Terra USTC, Litecoin and UNUS SED LEO Are Main Gainers On September 1

Cypto

Bitcoin is down by 2% in the last 24 hours, dropping below the $20k level once again. The impact is that most of the coins are in red apart from a handful. On the 7 day chart, BTC has lost 9% and doesn’t seem primed for gains in the near term. Its current price is $19,570.

Ether is down by 4% in the past 24 hours and is currently trading at $1,517 according to data from Binance.

Litecoin is the leading gainer among the top 30 capitalized cryptocurrencies on Thursday September 1, 2022. The cryptocurrency is up by 3% in the past 24 hours,  bringing its market price to $56. Litecoin is currently the 21st most capitalized cryptocurrency at $4 billion. In the past 24 hours, the coin has traded $495 million.

Bitfinex Token Still Riding High

Only one other higher capitalized coin is in green among the top 30. This is IFINEX’s UNUS SED LEO which is currently trading at $5.8. The cryptocurrency is the internal currency that enables traders to save on spreads on Bitfinex. UNUS SED LEO is up by 3% in the past v24 hours, bringing its 7-days gain to 12%

Other coins that are in green among the top 100 are Cosmos (ATOM) with a modest gain of 1%, eCash – 2% and Balancer – 11% .

Terra Classic USD, BAL, XEC Also in Green

Terra Classic USD (USTC), Balancer and eCash (XEC) have made impressive runs in the past 7 days. The 11% gain of Balancer (BAL) brought its 7-days gain to 16%. In the past 7 days, eCash has also gained 16%.

The impressive performance of Terra Classic, the Terra stablecoin that depegged months ago is not unconnected with the move to burn the token. USTC is presently up by 34% in the past 24 hours.

Other tokens that have seen gain in the past 7 days are Polygon (MATIC) – 2%, Nexo – 3%, Terra Classic – 26%.

The global market capitalization is currently $962 billion, down from $975 billion 24 hours ago.

Author: Jinka Kamma

Jinka Kamma is passionate about the prospects of blockchain and the freedom cryptocurrencies afford people across borders. He holds small amounts of bitcoin and tether.

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