Crypto market on track for 7th straight day of gains: Flow up 11pc, Ethereum at 3-week high
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Flow tokens have jumped more than 10 per cent to hit a one-month high, following its announcement earlier this week that the blockchain built for gaming and NFTs would soon unveil a bridge to Ethereum.
At noon (Sydney time) Flow tokens were up 11.3 per cent to US$8.16, leading the crypto top 100, and had traded as high as $8.58.
Flow said on Tuesday that it was integrating Chainlink price feeds to allow DeFi platforms to integrate FLOW tokens into various prediction and lending markets on Ethereum, so wrapped Flow tokens can be used there.
“This is just one of many utilities being added for FLOW holders,” the team wrote. “There are now over a dozen teams actively building DeFi primitives on Flow, with some of them getting ready to launch their beta platforms in the coming quarter …we are expecting the DeFi summer to start heating up on Flow. ”
Flow is a project of Dapper Labs, the team behind CryptoKitties. It’s used for their NBA Top Shot line of NFT collectibles.
$Flow is the sleeping Giant you have been looking for in your Crypto portfolio.
Working with governments and companies is the future, not rebuilding the entire system. Teamwork.
— Erick.find (@Erick_makes_Art) February 7, 2022
Overall the crypto market stood at US$2.12 trillion at noon, up 0.8 per cent from 24 hours ago, even as Bitcoin was flat at US$44,225.
If the gains hold it’ll be the crypto market’s seventh straight day of gains, and 13th out of 14 days of advances.
Ethereum was the biggest mover in the top 10 coins, rising 3.1 per cent to $3,227, its highest level since the January 21 crash.
Price will continue to get some pullbacks on the way up, but this has been a key level for ETH and breaking above $3200+ is certainly a good look
Keep an eye on Bitcoin price but ETH has looked stronger than BTC over the past 24 hours pic.twitter.com/4HV7TaRjKP
— Rager 📈 (@Rager) February 9, 2022
Bitfinix’s LEO token was the biggest loser in the top 100, falling 11.4 per cent after surging yesterday following the news that the US government had seized 94,000 Bitcoin stolen from the exchange in 2016. The assumption is that the BTC will be returned to the exchange and used to buy Leo tokens.
Waves was the biggest gainer in the top 100, rising 12.7 per cent to US$11.79, followed by Flow.