The crypto market was surging earlier today on the back of various positive news items, soundbites and rumours that Terra’s Luna Foundation Guard has been buying shedloads of Bitcoin.

Here’s one of those soundbites (see Michael Saylor tweet below), and it’s from one of the most influential American politicians – Secretary of the Treasury Janet Yellen.

Surprising? Maybe, although ever since US President Joe Biden’s recent “executive order“, there’s been a fraction more positivity emanating from Washington towards the crypto industry. Well, aside from fulltime crypto hater Senator Elizabeth Warren, that is.

Meanwhile, the crypto market has also been riding further positive sentiment fuelled by rumours that Terra’s nonprofit Luna Foundation Guard (LFG) has been making good on its promise to buy large amounts of BTC as a reserve asset for the UST stablecoin.

It’s a plan Terra founder Do Kwon has been reiterating lately and escalating in terms of magnitude. Kwon recently revealed the foundation has plans to increase its reserves to US$3 billion worth of Bitcoin, with a longer-term goal of raising a US$10 billion BTC fund.

And, assuming the “orange” references are Bitcoin-related, here’s some more bullish Twittering from him on the matter today…

What else? BlackRock CEO Larry Fink has also been fuelling the crypto-market hopium with a letter to his US$10 trillion AUM company’s shareholders, and Israel’s biggest bank, Leumi, is getting in on the crypto-trading act.

But as for the market’s overall increasing positivity right now, you can take more than our word for it with a quick squiz at the Crypto Fear & Greed Index, the market’s leading sentiment indicator…


Top 10 overview

With the overall crypto market cap at about US$2.11 trillion, up roughly 4% from this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

Cardano’s ADA has taken a breather in the past few hours after yesterday’s excitement, although it’s still the clear top 10 leader on the weekly timeframe.

Everything else in the crypto majors is in the green at the time of writing, but there’s still a bit of time left until Wall Street trading closes for the week.

Things have been ticking down today in the US stock market indices and, with the crypto market still quite correlated there, this may yet have a directional sway as we head into the weekend.


Uppers and downers: 11–100

Sweeping a market-cap range of about US$22.6 billion to about US$975 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time.


• Convex Finance (CVX), (mc: US$1.36 billion) +13%

• THORChain (RUNE), (mc: US$2.8 billion) +12%

• Chiliz (CHZ), (mc: US$1.29 billion) +11%

Quant (QNT), (mc: US$1.86 billion) +9%

• Algorand (ALGO), (mc: US$6.24 billion) +8%



• JUNO (JUNO), (market cap: US$1.28 billion) -8%

• (HEART), (mc: US$1.39 billion) -5%

• ApeCoin (APE), (mc: US$2.18b) -4.5%

• Radix (XRD), (mc: US$1.47b) -4.5%

Mina Protocol (MINA), (mc: US$1.1b) -4%


Uppers and downers: lower caps

Moving below the crypto unicorns (in some cases well below), here’s just a selection catching our eye…


• Crypterium (CRPT), (market cap: US$61 million) +104%

• Redacted Cartel (BTRFLY), (mc: US$154m) +53%

• Edgeware (EDG), (mc: US$60.5m) +45%

Numeraire (NUM), (mc: US$48m) +38%

• SingularityNet (AGIX), (mc: US$149m) +36%



• DigitalBits (XDB), (market cap: US$384 million) -22%

• Creditcoin (CTC), (mc: US$333m) -20%

Tethys Finance (TETHYS), (mc: US$19m) -20%

• KRYLL (KRL), (mc: US$42m) -15%

• Neutrino System Base Token (NSBT), (mc: US$79m) -14%


Around the blocks

Blockchain Week 2022, put together by Blockchain Australia, has concluded five days of talks and panels featuring a large and impressive array of big-name local and international crypto-industry identities.

Stockhead‘s Derek Rose was able to cover a good amount of the event, which revealed insights from Synthetix founder Kain Warwick, Animoca Brands’ Yat Siu, and Galaxy Digital’s Mike Novogratz among others.

Recordings will be made available for viewing by Blockchain Australia next week.


That’s it for another week, time for a good weekend. Here’s some memey stuff…