LEO LEO/USDthe native crypto exchange token Bitfinex, rallies as the overall crypto market struggles to gain a foothold. The utility token is up 18% over the past seven days, trading at $4.44, recorded Monday at 12:00 a.m. EST.
|Cryptocurrency||Weekly performances||Price (Monday, 12:00 p.m. EST)|
Summit cryptocurrency Bitcoin BTC/USD is up 1%, struggling to hold $16,000 as analysts point to a bear market rally for the crypto market. Ethereum ETH/USD plunged 4.71% in the past seven days. Dogecoin DOGE/USD fell 7% as the global crypto market capitalization fell 4.23% to $800.68 billion.
why is it important: LEO price spike comes as rival exchange FTX FTT/USD suffers from liquidity problems. After FTX filed for bankruptcy, many in the crypto community called for exchanges to post their proof of reservations. Bitfinex was one of the few exchanges to reveal its cold wallet storage to improve transparency.
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B OK OKB/USD, the internal token of the OKX exchange, is second on the list, gaining 15.30% over the past seven days. Interestingly, OKX is also among the major crypto exchanges that announced proof of reserves for their users for the first time.
Third on the list is Amount QNT/USD who checked in a peak of 12.45%. The rally can be attributed to the increased user base for ND encrypted wallet. Last week, QNT wallet holders hit over 90,000. This comes at a time when users are fleeing centralized exchanges and taking “self-custody” of their cryptos, as exchanges halt withdrawals amid of the spread of the crypto contagion.
Arweave AR/USD is fourth on the list, gaining 12.27%, and ApeCoin APE/USD was last on the list, up 11.98%, over the past seven days.
Read more : Bitcoin, Ethereum, Dogecoin Tumble: Analyst Sees Another Bearish Rally as FTX Fallout Continues to Shake Crypto Market