Mid-cap altcoins soar as BTC languishes, with Audius, Amp and Loopring up by around a third
Bitcoin hasn’t moved much today and Ethereum is only a little higher, but some smaller altcoins are flying.
Audius (AUDIO) was up 36.6 per cent to US$2.92 this morning on rumours of a Coinbase listing, and after the decentralised music streaming platform released a new feature allowing artists and fans to embed NFT metadata on blogs and social media platforms.
Instant payments token Amp was up 39.9 per cent to US7c, Ethereum scaling solution Loopring had gained 32 per cent to $3.48 while layer 1 blockchain Fantom rose 20 per cent to $2.37.
The Crypto.Com Coin and Oasis Network were both up another 17 per cent, to US87c and US41.6c, respectively.
Animoca Brands’ The Sandbox token (SAND) was up 12.7 per cent this morning to US$5.55, gaining 62 per cent in the past seven days. The coin is now the No. 41 crypto, up from No. 118 a month ago, and yesterday set an all-time high of US$5.64.
“There has been a general excitement and anticipation on the launch which is imminent,” Animoca executive chairman Yat Siu told Stockhead, referring to Sandbox Alpha, an open multi-week play-to-earn event beginning Tuesday that will let players into the Sandbox’ metaverse for the first.
The property remains a subsidiary of Animoca Brands, Siu said, even after the Softbank-led US$93 million funding round in The Sandbox earlier this month.
By volume of trade, it is now one of the top NFTs projects globally, Siu added.
The Sandbox token was one of the reasons Animoca was booted from the ASX early last year.
Other metaverse and gaming tokens Bezoge Earth, Wilder World and Vulcan Forged hit new all-time highs yesterday as well.
Overall the crypto market stood at US$ 2.56 trillion, up 0.32 per cent from yesterday.
Bitcoin was trading at US$58,187, up 0.8 per cent from yesterday, while Ethereum was changing hands for US$4,342, up 4.9 per cent.
Avalanche was the biggest loser, dropping 8.3 per cent to US$124 after a couple of days of strong gains. Dogecoin had edged higher to reclaim the No. 10 spot in the coin rankings from AVAX.