Crypto market wrap: Chiliz coin takes a tumble, decred surges
Updated
The good times ended Thursday for the chiliz coin as it took a tumble following two days of strong gains.
Contradicting relative calm in the cryptocurrency market, CHZ was down 13% as conventional markets closed in North America. (All figures based on CoinMarketCap data.)
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CHZ to USD
Coin had spiked
The decline contrasted sharply with CHZ’s performance on Tuesday when the coin spiked 24% and Wednesday when it increased 8%.
But the volatility-riddled Celsius Network coin (CEL) fared worse as it sank 17% for the second straight day.
CEL continued to plunge after Celsius sued its former money manager Jason Stone, accusing him of theft.
The coin has been prone to extreme volatility since the Celsius Network collapsed, and fellow crypto lender Voyager Digital and hedge fund operator Three Arrows Capital imploded.
All three companies filed for bankruptcy protection after being pounded by the collapses of the original luna coin and related terraUSD stablecoin.
CEL to USD
Decred stands out
Decred stood out from the crypto crowd as it surged 13% while other gains were modest. The coin was up even more later in the afternoon, showing a 15% gain.
AAVE was another notable gainer as it rose about 5%. But other increases were below that mark.
AAVE to USD
Ether gets above $1,700
Ether (ETH), the main coin of the Ethereum blockchain, got back above $1,700. It had remained in the $1,600 range recent days.
Ether continued to outperform bitcoin (BTC) in advance of Ethereum’s upcoming hard fork, known as the Merge.
Bitcoin fell back into the $21,000 range, where it has resided recently, after getting above $22,000 on Wednesday.
Samsung eyeing crypto exchange: reports
Electronics giant Samsung has plans to launch its own crypto exchange in 2023, according to South Korean media reports. Several media outlets reporter that South Korea-based company will launch the exchange through its Samsung Securities division.
Samsung may also mint its own cryptocurrency, the reports say. The company has already developed a crypto wallet function on its Galaxy smartphones.
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