Crypto market slowly digs out of vast hole

Crypto markets are mostly in the green for a third day today, with Bitcoin consolidating at US$39,000 and some mid-cap altcoins posting double-digit gains.

Holochain (HOT), a distributed platform for hosting peer-to-peer applications, was the biggest gainer, rising 28.6 per cent to US0.098c.

$HOT has been feeling good past few days, if we rise again this run. You’ll see a lot of good people get on board. We need to and deserve to see this coin shine. It’s all I’ve ever believed in #holochain #holo

— $Holo-Man (@holostreetbets) May 26, 2021

Polygon (MATIC) was close behind, adding 26.3 per cent to US$2.14, after billionaire internet entrepreneur Mark Cuban invested in the Ethereum scaling solution. Polygon is now the No. 13 crypto, ahead of Chainlink.

@mcuban is one of the most prolific and insightful investors with investments in top startups and he is also one of the Sharks on @ABCSharkTank.

We’re proud to share that @0xPolygon is now part of the Mark Cuban company portfolio!

Visit: https://t.co/RZg0oIomFS

— Polygon (previously Matic) (@0xPolygon) May 25, 2021

“I was a Polygon user and find myself using it more and more,” Cuban told Coindesk in an email.

Overall 79 of the top 100 cryptos were in the green in the past 24 hours and just nine were in the red.

Revain (REV) was the worst performer at lunchtime, down 8.0 per cent to US1.4c.

Bitcoin was trading at just over $US39,000 ($50,600) and Ethereum was trading around US$2,800 ($3,600), up 1.9 and 6.2 per cent, respectively.

Despite the gains, every top 100 token except for Celsius was down for the past seven days – and over 80 of those were down by double digits.