All top 20 cryptos except Terra at #9 were down over the past 24 hours. Oil gushed past $86 late Tuesday night, its highest price since 2014, with a slew of geopolitical events contributing to tighter supplies.&
An oil pipeline from Iraq to Turkey exploded, halting oil flow. Terrorists attacked oil storage facilities and fuel tankers in the UAE on Tuesday.&
Tensions on the Russian-Ukrainian border threaten disruption of supplies as OPEC+ countries struggle to meet their target output while global demand for oil only increases. At the time of writing, oil was trading above $85.
US stocks slumped yesterday following a spike in Treasury yields. All Wall Street indices were in the red yesterday as the DJ30 and SPX500 fell 1.5% and 1.8%, respectively, while the NASDAQ100 plummeted 2.6%.
Top cryptos
Cardano ended its winning streak, diving more than 10%. Polkadot followed, sliding more than 4%, Ethereum and BNB dropped more than 3%, while XRP and Solana were all down more than 2%.
Bitcoin was trading below $42,000 at time of writing. The only top 20 winner was Terra, whose token Luna gained 5% in the last 24 h.
Crypto ATMs in Singapore halted services as regulators frown on easy consumer access to cryptocurrency. Bank of NY Mellon sees crypto assets potentially generating a meaningful source of revenue in the next 2-3 years.
Top movers
The top 100 more or less mirrored the movements in the top 20. A notable exception is Stacks, a layer-1 blockchain solution that is designed to bring smart contracts and decentralized applications (DApps) to Bitcoin (BTC). It is up 17% today.
The native token of Theta Network, THETA, was easily one of today’s biggest and few winners, up more than 9% in the last 24 hours. Theta Fuel, the token powering the Theta blockchain, is also up today &- by 14%. At the other end of the scale is Harmony, ending its gains with a dive of 13%.
Trending
The biggest gainer of the day is Patron, the token of an influencer sharing economy platform. The Japanese company’s cryptocurrency added 2,970% to its value in the last 24 h. &
Rainbow Token is a hyper-deflationary, ethical DeFi token running on Binance Smart Chain, which combines seven features into a single crypto asset. It was listed on Stealth Exchange two days ago and has gained 18% today.
The Lunar token is surging on news of a Bitmart listing. Lunar added 11% to its value today.
The post Market highlights January 19: Sea of red for major cryptos, oil at 7-year high appeared first on Coin Journal.
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