Crypto news: Two major coins jumped around 100% during week
Updated
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.
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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?”
When ramen goes up, BTC goes down – Credit: Google/RedditQuote 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.
Top cryptocurrency coins by market capitalisation
As of 13:30 UTC:
- Bitcoin (BTC) was down 4.6% over 24 hours to $41,657
- Ether (ETH) plunged 6.2% to $2,740
- Binance coin (BNB) fell 3.7% and was trading at $397
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