KEY POINTS

  • Ether once again outperformed Bitcoin as its dominance rose to 18.66%
  • The best performing tokens include MATIC, CRO, AVAX, and AAVE
  • The poor performing tokens are THETA, CHZ, HBAR, and YFI

The crypto market opened on a slightly bearish note for Bitcoin (BTC) on Wednesday as it dropped 0.13% while Ether (ETH) outperformed BTC with a 2.19% price surge.

According to CoinMarketCap data, the price of BTC and ETH were $22,860 and $1,617, respectively. The market dominance of the world's biggest cryptocurrency dropped to 41.30% while that of ETH rose to 18.66% in the last 24 hours.

BTC successfully retained prices above the $22,000 price level while ETH retained above $1,600. The nearest support for BTC is between $21,000 and $22,000 and for ETH it is $1,500.

The tokens which did not show much volatility in the last 24 hours include Ripple (XRP) which dropped 0.91% to $0.3677; Tron (TRX) which dropped 0.72% to $0.06815; and FTX Token (FTT) which dropped 0.84% to $28.98 as of 12:24 a.m. ET.

The best performers as of 12:25 a.m. ET include Cronos (CRO) which rose 9.08% to 0.1541; Polygon (MATIC) which rose 3.62% to $0.8891; Avalance (AVAX) which rose 2.87% to $23.16; Aave (AAVE) which rose 5.34% to $94.66; and THORChain (RUNE) which rose 5.74% to $2.60.

The poor performing tokens as of 12:26 a.m. include Chiliz (CHZ) which dropped 11.98% to $0.1348; yearn.finance (YFI) which dropped 2.10% to $10,680; Theta Network (THETA) which dropped 4.72% to $1.35; and Hedera (HBAR) which dropped 4.87% to $0.07104.

A representations of cryptocurrency Monero is seen in front of a stock graph and U.S. dollar in this illustration taken, January 24, 2022.
A representations of cryptocurrency Monero is seen in front of a stock graph and U.S. dollar in this illustration taken, January 24, 2022. Reuters / Dado Ruvic
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