Crypto market update: BTC rises to $31,000

The biggest riser of the day out of the top 100 cryptos was waves (WAVES)

Ethereum, bitcoin and cardano cryptocurrencies with chart in background                                 
Ethereum, bitcoin and cardano cryptocurrencies with chart in background - Photo:Alamy
                                

The price of bitcoin (BTC) ended yesterday at $31,718 after rising by 7.73% during the day according to Currency.com. The price of the lead crypto was trading at $31,752 earlier today.

The trading volume of BTC had increased by 33.49% over the past 24 hours. Meanwhile, eight out of the top 10 cryptos are up today according to CoinMarketCap, with BTC up by 3.50%.

Ethereum (ETH) was up by 3.90% to $1,977, binance coin (BNB) was up by 0.89% to $320, cardano (ADA) was up by 23.91% to $0.64 and solana (SOL) was up by 0.88% to $46.

Out of the two stablecoins in the top 10 cryptos, one was up and the other was down. Tether (USDT) was down by 0.01% and below the $1 mark to $0.99. USD Coin (USDC) was up by 0.02% but remains priced at $1.             

Ripple (XRP) was up by 5.13% to $0.42 and dogecoin (DOGE) was up by 1.34% to $0.08. 

Biggest risers out of the top 100 cryptos

The biggest riser of the day out of the top 100 cryptos was waves (WAVES), which was up by 56.60% to $8.93. According to CoinMarketCap WAVES “is a multi-purpose blockchain platform which supports various use cases including decentralised applications (DApps) and smart contracts”.

The second biggest riser out of the top 100 was Axie Infinity (AXS), which increased by 23.68% to $24.42. AXS “is a blockchain-based trading and battling game that is partially owned and operated by its players”, states CoinMarketCap.

The third biggest top 100 riser was ADA. CoinMarketCap says ADA “is a proof of stake blockchain platform that says its goal is to allow changemakers, innovators and visionaries to bring about positive global change.”

Biggest fallers out of the top 100 cryptos

Tezos (XTZ) was the biggest faller of the day out of the top 100 cryptos, dropping by 2.04% to $2.09. XTZ “is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to ethereum”, states CoinMarketCap.

The second biggest faller out of the top 100 was TRON (TRX) having decreased by 1.86% to $0.08. According to CoinMarketCap TRX “is a decentralised blockchain-based operating system developed by the Tron Foundation and launched in 2017”.

The third biggest faller out of the top 100 was elrond (EGLD), having dropped by 1.65% to $82.09. CoinMarketCap states EGLD “is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding”.

Overall biggest crypto risers

Out of the more than 10,000 cryptos listed on CoinMarketCap, Metacyber (METAC) was the overall biggest riser of the day, up by 386.96% to $0.0000005002. CoinMarketCap describes Metacyber as “a virtual blockchain-based metaverse set in a space where one can explore, play, trade, and socialise with other players”.

The second biggest riser of all cryptos was The Realm Defenders (LUCYDOGE), which increased by 378.99% to $0.004787. The Realm Defenders “is a free to play and play-to-earn (P2E) role-playing game (RPG) style strategy game based on Polygon blockchain” states CoinMarketCap.

The third overall biggest riser was luckydoge (LUCKYDOGE), which increased by 217.83% to $0.000008621. CoinMarketCap explains LUCKYDOGE is a “meme token with 3D non-fungible tokens (NFTs) and doge related P2E games”.

Overall biggest crypto fallers

Bitsubishi (BITSU) was the biggest faller of the day out of all cryptos listed on CoinMarketCap after it fell by 96.63% to $419.05. CoinMarketCap states the best crypto exchange to buy BITSU is PancakeSwap.

The second biggest faller out of all cryptos was sweet SOL (SSOL), which dropped by 91.47% to $0.0000001823. SSOL, states CoinMarketCap, “is a multilayer hyper-deflationary token that allows passive income automatically sent to your wallet by simply holding through our mindless mining protocol”.

The third biggest faller overall today was TNC Coin (TNC), down by 85.18% to $0.0006277. CoinMarketCap calls TNC “the official digital currency of TNC IT Solutions Group. It serves as an integral part of all the transactions and processes within the TNC ecosystem.”

All prices correct as of 14:45 BST (UTC +1) on Tuesday 31 May.

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