Crypto market wrap: Altcoin prices stay in the green
Updated
Altcoin prices stayed in the green Wednesday as investors continued to display a healthy appetite for cryptocurrency.
The Cosmos blockchain’s coin (ATOM) led the way, showing a 9% gain at the time conventional markets closed in North America. (All figures based on CoinMarketCap data.)
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ATOM to USD
Chiliz keeps gaining
Chiliz (CHZ) posted the second-best increase – approximately 8% – after leading the market with a 24% gain on Tuesday.
Ankr also rose 8% on Wednesday, rounding out the top three gainers.
CHZ to USD
Celsius coin falls out of top 100
Most declines were modest, but the beleaguered Celsius Network coin (CEL) got hammered, sinking 17% and falling out of the top 100.
The plunge came a day 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.
Of the top 100 coins, EOS was the biggest loser – but only dropped 4%.
EOS to USD
Bitcoin approaches $22,000
Market leader bitcoin (BTC) approached $22,000 after starting the week slowly. But analysts are wary of a potentially large decline in September.
Edward Moya, a senior market analyst at Oanda, wrote in a note Monday that it could be difficult for bitcoin to stay above $20,000 “if King Dollar continues to appreciate leading up to [US Federal Reserve] chair [Jerome] Powell’s speech at the Jackson Hole Symposium,” Bloomberg reported.
Bitcoin is down more than 50% this year. According to Bloomberg, its price has fallen 10% on average in each of the last five Septembers.
Ether (ETH), the main coin of the Ethereum blockchain, continued to outperform bitcoin and stayed about $1,600.
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