Market highlights January 25: Bitcoin shows signs of recovery, US stocks’ late comeback

Original author: Daniela Kirova

Go to source

The crypto market was mostly in the red in Asian hours this morning, with the majority of the top 10 cryptos registering losses. Later in the day, the trend reversed itself with most cryptos currently in the green.

US stocks pared heavy losses in early trading yesterday to stage a late comeback, with the SPX500 (+0.24%), DJ30 (+0.15%) and NASDAQ100 (+0.45%) all closing higher.  

Top cryptos

Bitcoin was in the green, up around 5% and trading above $36,000 at the time of writing. Ethereum and XRP were down around 1% in Asian hours, while Cardano registered losses of around 3%.

A notable standout among gainers in the top 20 was Cosmos at No. 17. Its token ATOM added 13% to its value today. It continues to rally, gaining as much as 8% early yesterday as investors wagered on further upside for the high-speed blockchain.

Factors behind its growth include a bridge implementation between Cosmos and Polkadot and upcoming airdrops to Cosmos stakers. 

Top movers

Fantom is rallying today. The token of the formidable Ethereum Mainnet rival gained 12% in the last 24 h.

Elrond is trying to make a comeback. It gained around 9% today, but its weekly losses are still 28%.

A notable standout in the top 100 is OKB. The 61st coin by market cap, released by the OK Blockchain Foundation and Maltese crypto exchange OKEx, gained 14% today.  

Other winners include Loopring with 14% and Bora with 16%. Bora has reached #90 in the ranking. Woo Network takes the 100th position with gains of 16% in the last 24 h.  

Trending

DIA, the token of an open-source oracle platform that enables market actors to source, supply and share trustable data, is skyrocketing on news of a Coinbase listing. It has gained 46% and counting today. 

MXC continues its recent rally. The token has gained 31% in the last 24 hours. 

FX added 29% to its value today. The native token of Function X is trading for $0.67 with a 24-hour trading volume of $28.45 million. 

Ooki is a decentralized protocol for margin trading, borrowing, lending and staking, which enables developments of dApps for lenders, borrowers, and traders. It is up 28% in the last 24 hours. 

The post Market highlights January 25: Bitcoin shows signs of recovery, US stocks’ late comeback appeared first on Coin Journal.