CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Crypto news: Two major coins jumped around 100% during week

By Daniela Ešnerová


Updated

Graph representing market moves
UMA (UMA) and Waves (WAVES) were the biggest weekly gainers among the 100 top cryptocurrencies – Photo: Shutterstock

Universal Market Access (UMA) and Waves (WAVES) made significant gains over the last week, adding 111% and 95% over the period respectively. 

UMA is an Ethereum-based protocol that allows participants to build decentralised financial products, such as financial derivatives. It was the 97th biggest cryptocurrency by market capitalisation at the time of writing.

Waves is a multi-purpose blockchain platform that supports various use cases, including decentralised applications and smart contracts. Following its rally, Waves made it into the top 50 coins, claiming the 47th spot at the time of writing.

Bitcoin (BTC) was down 4.6% day on day, while the whole cryptocurrency market valuation was down 3.9% over the past 24 hours.

What is your sentiment on ETH/USD?

3504.65
Bullish
or
Bearish
Vote to see Traders sentiment!

BTC/USD

66,799.25 Price
-0.360% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

XRP/USD

0.61 Price
+5.060% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

ETH/USD

3,504.65 Price
-0.110% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

SOL/USD

170.51 Price
+0.070% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

Other crypto news

  • Cryptocurrency-related enquiries topped consumers’ concerns about possible scams, the UK Financial Conduct Authority said. The FCA revealed that “it opened over 300 cases relating to possible crypto asset businesses not registered with the FCA, many of which may be scams, and that it has 50 live investigations, including criminal probes, into unauthorised businesses”.
  • One in three US women is planning to buy cryptocurrency in 2022, according to crypto lending platform BlockFi. The survey, ‘Real Talk: Women x Crypto 2.0’, also revealed that 24% of women report owning crypto. “Of those, 70% are HODLers, having bought but never sold (compared to 55% for the market as a whole),” the report said. 

Chart of the day: When ramen goes up, BTC goes down 

Much has been said about BTC’s correlation with equity markets, but did you know that Google searches for “bitcoin” and “ramen” are also correlated – albeit negatively? Inspired by a post by Reddit user wallstreetbetscrypto, the poster nicknamed throwawayforuuuuu said: “We could start a hedge fund which invests in both ramen and BTC. Anyone in for a DAO?”

Chart representing Google searches When ramen goes up, BTC goes down – Credit: Google/Reddit

Quote of the day: “Football and crypto are for everyone”

Jay Hao, chief executive of crypto exchange OKX, commented on the company’s partnership with Manchester City football club.

“Football and crypto share something important; they are for everyone, they create inclusivity within society. For OKX, Manchester City is a club that represents the effect football has to make a positive difference in people’s lives, to bring people together around a shared love of the beautiful game. We are entering the Premier League for the first time as City’s official crypto partner to celebrate this community spirit in the world of football because it’s something we both share.”

Top cryptocurrency coins by market capitalisation

As of 13:30 UTC:

Markets in this article

BNB/USD
Binance Coin / USD
598.98 USD
-1.6 -0.270%
BNB/USD
Binance Coin / USD
598.98 USD
-1.6 -0.270%
BTC/USD
Bitcoin / USD
66799.25 USD
-241.3 -0.360%
ETH/USD
Ethereum / USD
3504.65 USD
-4 -0.110%
UMA/USD
UMA/USD
2.4919 USD
0.0898 +3.810%

Rate this article

Related reading

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 in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 630,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading