LEO rallies on Bitfinex news, strong earnings lift US indices
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The crypto market as a whole was uneventful with a few exceptions, which we’ll note here. Most of the top 100 coins by market cap moved in the range of +/-1 to 3% of their values yesterday.
US indices rallied yesterday amid a raft of strong corporate earnings. Biotech firm Amgen leapt 7.71% after announcing a $6 billion share buy-back program and forecasting strong growth.
Harley-Davidson (+15.34%) and education firm Chegg (+15.77%) spiked on positive quarterly updates. Meanwhile, travel stocks had another strong performance.
Peloton Interactive soared 25% after the fitness bike maker announced a major restructure, including 2,800 job losses and its CEO stepping down.
Bank of Canada Governor Tiff Macklem is scheduled to speak via satellite at the Canadian Chamber of Commerce. Macklem’s words may generate CAD volatility.
Top cryptos
Bitcoin was down around 3%, trading below $44,000 at the time of writing. Ethereum was also down around 3%.
Cardano and XRP registered losses of around 5% and 4%, respectively. Shiba Inu lost around 7%.
Top movers
On February 8, federal officials seized Bitcoin worth $3.6 billion linked to the 2016 hack of the crypto exchange Bitfinex, one of the biggest crypto hacks in history. Bitfinex announced it would repay investors in UNUS SED LEO, which is rallying on the news.
UNUS SED LEO is a utility token that’s used across the iFinex ecosystem, currently ranking at #25 on the top 100 by market cap. It’s poised to break the top 20 at this rate, trading for $7.36 at the time of writing and up more than 50% in the last 24 hours.
Other top 100 gainers include Ethereum Classic, Tezos, and Decentraland, which added 8%, 13%, and 6% respectively.
Metaverse token GALA’s price has grown by 117% since the beginning of this month alone. This week’s jump is mainly attributed to the launch of Legends Reborn, Spidertanks, and other anticipated games. The token has gained 6% in the last 24 hours.
IOTA is a trending crypto this week. Today, it’s up 7%. Its weekly gains come to 17% at the time of writing. IoTeX is reversing recent gains. It’s down 7% in the last 24 h.
Trending
There’s another dog-themed meme coin in town: DOGECO, the native token of Dogecolony. DOGECO is a play-to-win token. The game consists of 30 levels, which the team has released as a demo.
When collecting coins in the game, players must reach the end of the level by neutralizing the enemies or escaping from them.
DOGECO imposes an 8% tax on buy. 3% of this is distributed to DogeColony owners as loyalty rewards. The coin surged 680% today.
Cryptocurrency
