Bitcoin and Ethereum are not part of the surprising list of five best and worst-performing cryptocurrencies for 2022.
LEO Token Records Positive Moves While Crypto Market Struggles
LEO, the native token of the Bitfinex exchange, has recorded positive gains as the crypto market struggles to gain footing. The utility token saw a price increase of 4.24% on the day. It also enjoyed an impressive 11% surge in the last 7 days.
LEO’s price surge comes as rival exchange FTX suffers from liquidity issues. After the FTX filed for bankruptcy, many crypto community members called for exchanges to post their proof of reserves. Bitfinex was one of the few exchanges that revealed their cold wallet storage to boost transparency.
However, this move wasn’t a major catalyst in its growth as the tokens of other exchanges that took the proof-of-reserve route are still down. The likes of BNB and Houbi Token are down 5.12% and 16.32%, respectively.
LEO Joins TWT, Toncoin, Chiliz, And Others To Lead Gains
As the crypto market looks to recover, several tokens have enjoyed impressive price rallies. Besides LEO, the likes of Trust Wallet Token, Chiliz, and Toncoin are soaring with daily and weekly gains. Topping the list of top-gainers in the past day and week is Trust Wallet Token. The native token of the self-custody wallet saw an impressive run that brought its total weekly value to over 90%. TWT’s impressive run comes after CZ of Binance endorsed the wallet on Twitter.
Taking second place is the utility token of the decentralized spot and perpetual trading platform GMX. The token saw a week-on-week surge of 20% at press time while holding 2.09% on the day. Toncoin ad Chiliz followed suit in third and fourth place, respectively. Both tokens have enjoyed renewed interest on social media, one key factor contributing to their surge.
LEO came in fifth place, posting an intraday price surge of 4.21%. The Bitfinex utility token experienced some volatility within the week. This pushed the token down to $3.66, a 4.9% drop below its 7-day opening price of $3.82. However, it has recovered the losses, reaching a new local high of $4.22.
Bitfinex CTO Publishes Proof Of Reserve Amid FTX Bankruptcy Saga
Many significant cryptocurrency exchanges, including Binance, OKX, Kucoin, and Crypto.com, committed to publishing their proof of reserve to restore investor trust. The development came after FTX’s liquidity issue became well-known in the crypto space. To demonstrate his commitment, Bitfinex chief technical officer Paolo Ardoino published a list of the most used Bitfinex wallets.
A total of 135 cold and hot wallet addresses were disclosed in Ardoino’s Bitfinex proof of reserves post on GitHub. He provided a list of some of the company’s big holdings, 204338.17967717 Bitcoin and 1225600 Ether, saving users the hassle of going through the addresses.
Back in June 2018, Bitfinex created an open-source framework called Antani. The goal was to promote transparency with regard to evidence of solvency, custody, and off-chain delegated proof of vote. Ardoino revealed Bitfinex’s plans to restore the system to let users see their balances without jeopardizing anonymity.
Featured image from Pixabay and chart from TradingView.com
Price analysis 7/13: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO
Bitcoin price saw a brief pull-back following today’s high inflation print, but the rebound seen in BTC and altcoins suggests that buyers are buying the dip.
Price analysis 7/6: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO
Bitcoin and select altcoins are making an attempt at flipping key resistance levels, but negative news-flow and selling from BTC miners could continue to weigh on market sentiment.
Price analysis 7/4: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, LEO, SHIB
Bitcoin and altcoins have held their immediate support levels, suggesting the start of a relief rally in the short term.
Price analysis 7/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, LEO, SHIB
Traders expect Bitcoin to swoop below its swing low before the price flattens out and altcoins begin to recover.
What bear market? This token is quietly making new highs, up 300% against Bitcoin in 2022
Unus Sed Leo price technicals, however, suggest that the uptrend could correct in H2 2022.
Price analysis 6/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO
Bitcoin and altcoins gave up the gains of last week’s relief rally and June 29’s dip below $20,000 suggests bears are intent on pushing the market back to its yearly lows.
Price analysis 6/24: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO
A handful of on-chain metrics suggest that Bitcoin could be close to bottoming, and if true, the eventual relief rally could induce sharp gains from altcoins.
Price analysis 6/22: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, SHIB
BTC and select altcoins attempted a reversal, but are facing heavy selling at higher levels, which is proof that bears remain in control of the wider market.
Price analysis 6/20: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX
Bitcoin and select altcoins attempted a relief rally, but most breakouts are being capped-off well below the 20-day moving average.
Price analysis 6/17: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX
Bitcoin price struggles to hold support at $20,000, and the outcome of this battle between bulls and bears will determine the next directional move.
Price analysis 6/15: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, SHIB
BTC and select altcoins notched small gains after the Federal Reserve rolled out a 75 basis point rate hike, but technical analysis suggests that further downside is the most realistic outcome.
Price analysis 6/13: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX
Bitcoin and altcoins are seeing heavy selling as June 13’s massive unwinding could be the final capitulation-level event before the market finally hits a bottom.
Top 3 cryptocurrencies that are faring the best in the 2022 bear market
The list is curated after studying the drawdowns of the top 30 crypto assets by market cap from their record highs.
Top 5 cryptocurrencies to watch this week: BTC, LEO, MANA, KLAY, XTZ
BTC continues to lose ground, but if the $40,000 level is reclaimed, LEO, MANA, KLAY and XTZ could be the first to recover.
Bitfinex-backed LEO soars to record high on supply crunch expectations
The token surged almost 70% in a day after the U.S. Department of Justice announced that it had recovered most of the stolen funds from the 2016 Bitfinex hack.
Top 5 cryptocurrencies to watch this week: BTC, ETH, NEAR, MANA, LEO
BTC’s attempt to flip $42,000 to support could pull altcoin traders into ETH, NEAR, MANA and LEO.
Top 5 cryptocurrencies to watch this week: BTC, LUNA, ATOM, ACH*, FTM
BTC is oversold and possibly ready for a relief bounce, but this could be a trap for altcoins and Bitcoin if bull volume fails to sustain.
Top 5 cryptocurrencies to watch this week: BTC, LINK, ICP, LEO, ONE
LINK, ICP, LEO and ONE could rebound if traders sense that Bitcoin’s selling is near completion.