Crypto.com Coin, ZCash and Elrond Soar as Bitcoin and Ethereum Disappear

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Bitcoin has encountered resistance in its attempt to recover the psychologically important $ 60,000 level, with analyst warning another sell off could be brewing.

After trading up to nearly $ 59,900 around 4:00 am AEDT, BTC slipped well below US $ 59,000 as the weekly close at 11:00 am AEDT (midnight UTC) approached.

Shortly after noon, the original cryptocurrency was trading at just over $ 58,000, down 2.3% from yesterday.

“I still think there is a higher probability of prices falling in the days / weeks to come,” Bitcoin Charts wrote ahead of the close, noting that Bitcoin was showing signs of bullish exhaustion and had lost a few levels of support.

Ethereum changed hands for US $ 4,222, down 3.9% from yesterday.

The crypto market drops 2.5%

Overall, the crypto market was worth US $ 2.58 trillion, down 2.49% from 24 hours ago.

Coingecko

All of the top 20 coins were down except for Solana, Avalanche, and Crypto.com Coin. SOL and AVAX both rose around 4%, to US $ 2,224 and US $ 133, respectively, while CRO had pumped 23% to 70c.

Earlier this morning it had hit a record high of 79c, down from around 20c earlier this month.

Crypto has been in tears since purchasing the naming rights to the Los Angeles arena formerly known as Staples Center, where the Clippers and Clippers play.

I think these are the new BULL-ish naming rights. All newcomers must purchase CRO $ to take advantage of the ecosystem (for example, buy enough CRO $ to wager for 6 months for a free credit card). This buying pressure alone is enough to keep the buying pressure high.

pharmlord (@pharmlords) November 22, 2021

Elrond, ZCash soar

ZCash was the biggest winner in the top 100, up 24.1% to US $ 221 after developer Electric Coin Co. on Friday published plans to switch the privacy coin to proof of stake. here three years.

The funny thing is that $ ZEC hasn’t even started pumping. We’ll be at $ 300 in less than a week. There is hardly any resistance, everyone has sold everything to institutional buyers, and they are not selling. Neither do I.

Sebastian Schepis (@sebschepis) November 21, 2021

Crypto No.25 Elrond (eGLD) rose 16% to an all-time high of US $ 451 after the smart contract platform announced a $ 1.29 billion liquidity incentive program on Friday. US dollars for its Maiar DEX DeFi platform.

“This is perhaps the largest DeFI incentive program to date and represents an important step towards adopting DeFi beyond the current boundaries of the crypto space, into the mainstream,” said Elrond Network CEO Beniamin Mincu in the announcement.

Crypto Trader Joe # 188, the decentralized exchange on Avalanche, hit an all-time high of US $ 5.09 yesterday. As of noon, it was up 6.9% to US $ 4.60.

Kadena was the biggest loser in the top 100, falling 10.9% to US $ 17.43 after her huge moves earlier in the month.

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