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Crypto market wrap: altcoin prices stay in the green

By Monte Stewart


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In this article:
0.31746 USD
-0.01436 -4.390%
61.764 USD
-1.591 -2.520%
Internet Computer to US Dollar
4.2271 USD
-0.1605 -3.680%
1.8300 USD
0.0058 +0.540%
93.09 USD
-1.9 -2.100%

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Graphic of coin and stars
Altcoin prices stayed in the green on Thursday as digital assets defied the crypto winter. - Photo: Shutterstock

Most altcoin prices stayed in the green Thursday as digital assets contradicted the crypto winter.

The majority of top 100 cryptocurrencies were up again after enjoying some solid increases on ]Wednesday. Low-profile altcoin prices again stole the show, but some big names also posted large increases.

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Another banner day

STORJ enjoyed another banner day as it was up about 14% in afternoon trading in North America. (All figures based on CoinMarketCap data.)

But large player AAVE’s increase was also in the same ballpark, ranking second among top gainers. AAVE was up about 18% from a week earlier.

Relative unknown internet computer (ICP) – which is well-priced at more than $6 despite its low profile – posted a 10% gain. Polygon (MATIC), whose increase trailed ICP by a few basis points, rounded out the four gainers.


NEXO in the green again

Other lesser lights that stood out included the Convex Finance coin (CVX), MINA, NEO, NEAR, gnosis (GNO). And, NEXO was well in the green again after ranking among top gainers on Wednesday.

NEXO appears to be picking up steam after its parent company of the same name announced that it intends to buy distressed crypto lender and trader Vauld earlier this week.

Vauld froze deposits, withdrawals and trades earlier this week.


Celsius Network coin nosedives

But the troubled Celsius Network’s coin (CEL) bucked the rising altcoin price gain during afternoon. CEL nosedived 16% after the Wall Street Journal reported that the crypto lending company behind the network and digital asset had shaken up its board.

The Celsius Network froze customer withdrawals and transfers in mid-June while “extreme market conditions.” The company has slashed its debt, according to reports from Crypto Potato and other outlets.


0.00 Price
-3.880% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee -0.0500%
Overnight fee time 22:00 (UTC)
Spread 0.00000680


0.10 Price
-2.870% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.0012306


0.39 Price
-0.230% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.00342


16,888.10 Price
-0.850% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 60.00

VGX, the coin backed by troubled crypto lender and trader Voyager Digital, was down marginally.

Voyager Digital filed for Chapter 11 bankruptcy in the US on Tuesday and is seeking protection from creditors in Canada, where the company’s stock had traded before being suspended Wednesday by the country’s investment industry regulator.


Cuban comes under fire

Mark Cuban, the owner of the Dallas Mavericks NBA team, has come under fire from its fans on social media, including Reddit and Twitter, for promoting Voyager to them in a five-year partnership with the company launched in October 2021.

The critics included New York Times bestselling author James (Jim) Rickards, who is also the editor of the Strategic Intelligence financial newsletter.

“When Mark Cuban partnered with crypto player Voyager, he said, ‘There's a lot of hype..but most people don't understand the fundamentals behind it.’ I guess Cuban didn't either. It's called banking,” Rickards wrote on Twitter.


Ether (ETH) rises with bitcoin

Bitcoin (BTC) rose above $21,000 – which is considered a key benchmark as investors hope to avoid a precipitous drop. The world’s largest cryptocurrency posted a solid increase of approximately 6%.

Ether (ETH) made a similar jump.

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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