Cryptos Firm As The Dollar Retreats

Cryptocurrencies stayed strong, early on Monday amidst a Dollar that weakened, govt bond yields that softened, equity markets that rebounded and gold prices that rallied. U.K.’s reversal of recent fiscal measures and hopes of stimulus measures from the Chinese govt reinforced the risk-on sentiment across markets.

The Dollar Index is currently near 112.45, down 0.76 percent, after ranging between 112.45 and 113.22 earlier in the trade.

Overall crypto market capitalization increased more than 2 percent overnight to $938 billion. Less than 10 percent of the top 100 cryptocurrencies are trading in the red zone.

At current levels of market capitalization, Bitcoin commands 40.2 percent of the overall crypto market, closely followed by Ethereum which enjoys a market share of 17.3 percent. Stablecoins account for 15.9 percent of the overall crypto market, leaving a share of 26.6 percent for the residual altcoins.

Market leader Bitcoin (BTC) is trading at $19,613.26, having gained 2.5 percent in the past 24 hours. BTC is holding on to more than 1 percent of gains on a weekly basis but is almost 12 percent lower in the past 90 days.

Ethereum (ETH) gained 3.8 percent in the past 24 hours. Ether too is holding on 1 percent gains on a weekly basis but is still 15 percent lower over the 90-day period.

BNB (BNB) and Dogecoin (DOGE) added more than 1 percent overnight. Cardano (ADA) rallied more than 2 percent, whereas Solana’s (SOL) gains exceed 3 percent.

6th ranked XRP (XRP) bucked the trend to decline around 0.6 percent overnight. The CEO of Ripple Labs had over the weekend, expressed outrage at the prolonged legal dispute between the SEC and the company.

27th ranked Quant (QNT) that gained 19 percent is the biggest overnight gainer in the top 100 category.

66th ranked Synthetix (SNX) and 76th ranked Lido DAO (LDO) also gained more than 9 percent overnight. 42nd ranked Huobi Token (HT) followed closely with a gain of little less than 9 percent.

89th ranked TerraClassicUSD (USTC) and 90th ranked Waves (WAVES) are the biggest laggards in the top 100 category, declining close to 2 percent overnight.

On a weekly basis, Huobi Token (HT) is the greatest gainer, having surged more than 55 percent. Next in line are 27th ranked Quant (QNT) that gained 41 percent and 70th ranked Casper (CSPR) that rallied 35 percent.

77th ranked Klaytn (KLAY) had declined 23 percent in the past week and is the greatest laggard among the top 100 cryptos.

33rd ranked Terra Classic (LUNC) and 38th ranked ApeCoin (APE) have declined more than 12 percent in the past week.

Other cryptocurrencies that have declined more than 10 percent in the past week are 29th ranked NEAR Protocol (NEAR), 39th ranked Internet Computer (ICP), 92nd ranked Ravencoin (RVN) and 8th ranked Cardano (ADA).

The only noteworthy year-to-date gainers among the top 100 cryptocurrencies are 75th ranked Trust Wallet Token (TWT) that jumped 47 percent, 27th ranked Quant (QNT) that rallied 24 percent and 19th ranked UNUS SED LEO (LEO) that strengthened 19 percent.

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