Cryptos recovering, US stocks dip ahead of Fed decision

The crypto market is recovering as a whole. It was in the green over the past 24 hours, as the majority of top 10 cryptos were seen higher at time of writing. The US’s three major indices dipped yesterday ahead of the Federal Reserve’s final monetary policy decision of 2021 today. Software giant Adobe (-6.6%) led the declines on the SPX500 (-0.75%)

Oil prices were seen lower this morning. Yesterday, the International Energy Agency (IEA) said that increases in Omicron Covid-19 cases would affect international demand for oil.

Top cryptos

Bitcoin registered gains of approximately 2%, trading above $48,000 this morning. Ethereum, Cardano and XRP were all up around 3% each. Dogecoin jumped around 14% after Musk announced that he would start accepting it as payment for some goods.

Outside the top 10, Avalanche is up 16% on news of USDC listing. USD Coin is now accessible on AVAX’s platform. Polygon registered gains of 12%.

Top movers

The biggest gainers are Elrond at #30 with 18% and PancakeSwap. Elrond is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralized finance and the Internet of Things.

The live PancakeSwap price today is $12.82 with a 24-hour trading volume of $353 million. PancakeSwap is up 14% in the last 24 hours.

Other winners are Waves with 11% and Kadena with almost 11%. XDC Network is up 13%.