Mooners and Shakers: Crypto market in doldrums as US dollar motors; Helium loses gas

Bitcoin continues to float in uncertain territory. He can see the US dollar in the distance, up and to the right, riding the 20-year highs. Meanwhile, the IoT crypto Helium (HNT) is deflating.

Crypto is not without its main positive narratives, although Ethereum’s Merge will want to be, at the very least, a technical success when it finally begins to merge this month, lest it contribute to a further slump in sentiment.

But right now, as far as the short-term price is concerned, any little pump seems to be held off by the rise in the US dollar index, which has breached some resistance at its mark of 109 and looks into the mood. to storm another gate.

Here is the opinion of cryptocurrency analyst Justin Bennett …

And then there’s this too, of course …

One thing though, the S&P 500 and the Dow Jones both managed to close in green on the first day of September. Perhaps the sleepless cryptocurrency market can follow suit by heading towards the weekend …

Overview of the top 10

With the overall market capitalization of cryptocurrencies at $ 1.03 trillion and up about 0.5% from yesterday, here’s the current state of games in the top 10 tokens, according to CoinGecko.

Ups and downs: 11–100

Sweeping a market cap range from about $ 8.2 billion to about $ 423 million in the rest of the top 100, we find some of the biggest 24-hour gains and losers at press time. (Statistics accurate at time of publication, based on data from CoinGecko.com.)

DAILY PUMPS

Celsius network (CEL), (market capitalization: US $ 589 million) + 25%

EOS (EOS), (m3: 1.52 billion US dollars) + 10%

Evmos (EVMOS), (mc: 727 million US dollars) + 7%

Litecoin (LTC), (m3: 4.1 billion US dollars) + 6%

Cosmo Hub (ATOM), (m3: 3.7 billion US dollars) + 6%

DAILY SLUMPERS: Helium without gas

helium (HNT), (market capitalization: $ 609 million) -10%

LEO token (LEO), (mc: 5.17 billion US dollars) -5%

Chiliz (CHZ), (mc: 1.14 billion US dollars) -3%

Synthetix network (SNX), (mc: 690 million US dollars) -3%

NESO (NEXO), (mc: 589 million US dollars) -3%

So why has helium (HNT) deflated in the past few days? First, what is it? Stockhead took a look last year and you can read about it here. But if you want the fast, shrill, high-pitched voice version … it’s a blockchain network in the Internet of Things (IoT) encryption industry, and it uses nodes as a hotspot to connect wireless devices to its network.

It is currently trending lower due to a rather significant announcement its developers made on Tuesday. Essentially, they made a proposal (HIP-70) that would demolish their own blockchain network and take the project to Ethereum’s leading Tier 1 competitor Solana (SOL) instead.

This clearly took HNT investors by surprise. And token prices don’t always hold surprises. As a result, HNT is now down about 28% over the week.

However, the developers believe it will ultimately be a distinct benefit to the overall speed, security and scalability of the ambitious project, with potentially more HNT reward tokens distributed to the node operator pool.

Solana’s SOL token may not care about this news at the moment, by the way. In the past 24 hours, she appears to be reaching her personal planking record of 0%.

Around the blocks

A selection of randomness and relevance that stayed with us during our morning moves through the Crypto Twitterverse …

It might interest you

Leave a Comment