Market takes downturn, 0x rallies on $70M funding round

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The crypto market as a whole is bearish with most top 100 coins in the red at the time of writing.

Top cryptos

Bitcoin shed almost 5% of its value in the last 24 hours, trading for just under $39,000. Ethereum followed suit with a loss of just over 4%.

The biggest top 10 loser is Dogecoin, which is rapidly reversing recent gains. Elon Musk’s favorite crypto, which soared on news he was buying Twitter, had lost 11% at the time of writing.

Cryptos outside the top 10 fared no better. Leading the pack was NEAR Protocol, down 12% so far today.

Top movers

Outside the top 20, the tendency was similar, with most coins losing 3-6% of their value. Notable standouts include Monero and Zcash, which both lost 10% in what looks like a downturn for privacy coins.

Waves was pushed to the top when the war on Ukraine began, but it’s definitely starting to see its growth recede. It lost 10% today and 28% in the past 7 days, ranking it among the biggest weekly losers.

The Graph, which soared almost 20% yesterday, also lost 10% in the last 24 hours.

As for coins in the green, the leading gainer is 0x, up 11%. It’s rallying after 0x Labs announced it had raised $70 million in a Series B round led by Greylock VC to continue expanding Web3’s core exchange infrastructure.

ApeCoin gained around 4% today, bringing its weekly growth to 19%. It broke out of the resistance pattern line a week ago as whales bought it up, adding around 32% to its value at the time.

The token of Kyber Network, KNC, was at around 0 today, but its gains for the week stand at the impressive 28%.

There are several reasons for its success. Kyber Network has undergone expansion to ten different blockchains, integrated with Uniswap v3 and taken part in Avalanche’s new developer incentive.