Market highlights: Loopring up 42%, NFL allows blockchain ads

Most major cryptos registered minor losses over the past 24 hours. The National Football League sent out a memo saying it will permit its teams to pursue blockchain sponsorships. However, the ban on promoting crypto assets remains in place.

US stocks rallied yesterday after Federal Reserve chairman Jerome Powell claimed the central bank’s plan to tighten monetary policy would not tip the US economy into recession. 

Bank of England Governor Andrew Bailey will speak at the Bank for International Settlements Innovation Summit today at 12:00 GMT, potentially generating market volatility in the UK.

Top cryptos

Polkadot and Cardano stood out, each gaining more than 3%. Bitcoin was trading just above $42,000 at time of writing, down less than 1% over the past 24 hours. Avalanche is down 4%.

Top movers

In the top 100, most coins added or lost 1-3% of their value. Notable standouts were Ethereum Classic (+10%), Mina (+9%), Bitcoin Gold (12%), Qtum (+11%), Internet Computer (+7%), and Bora (+8%).

ApeCoin, which crashed the top 100 spectacularly, continues its ascent. The cryptocurrency, created by the founders of BAYC, has gained 13% today.

Loopring surged 42% on news of a partnership with GameStop for the latter’s NFT marketplace.

At the other end, THORChain is retracting recent gains. It lost 6% today.

Trending

The biggest gainer today is YTizer, which is being designed as a future yield trading platform. The idea is that the offering party can take future yield as an advance payment in exchange for surrendering yield in a tokenised capacity.

Traders can buy this tokenised yield and hold it until its maturity date. The native token of this ecosystem, YTZ, is up almost 1,200% in 24 hours.