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Dogecoin<\/p>\n
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The day after Elon Musk offered to buy Twitter, cryptocurrencies for the most part seem little moved. <\/p>\n
Bitcoin<\/a> remains bound within the $39,000-40,000 trading range, after retracing Wednesday’s gains that propelled the asset to break above $41,000. Ether<\/a> is hovering at $3,017, up by 1.1% on the day. Both have shed more than 4% over the past week, mirroring the slides in the equities market. <\/p>\n This week, Norway-based crypto analytics firm Arcane Research noted<\/a> that bitcoin\u2019s 90-day correlation with ether reached 0.91, the highest level since June 2020, while its 90-day correlation with the S&P 500 hit an all-time high two weeks ago.<\/p>\n Subscribe to the Forbes CryptoAsset & Blockchain Advisor to get access to in-depth takes and stay ahead of the curve.<\/em><\/a><\/p>\n Leaders and Laggards: Featuring the best and worst-performing assets of the past 24 hours among the 85 largest cryptocurrencies by market capitalization tracked by Forbes. For more information, read this quick <\/em>Forbes Digital Assets guide.<\/em><\/a><\/p>\n Yesterday\u2019s leader, zilliqa<\/a>, the token powering a blockchain project best known for its early implementation of sharding, a technology that splits the platform’s infrastructure into several interconnected networks to support more transactions, is facing a reversal of fortune. The cryptocurrency is down by more than 6% over the past 24 hours, leading the losses among the assets listed on Forbes<\/em>. Yesterday, the project\u2019s team unveiled<\/a> its goals for the remainder of the year, which include the introduction of the Ethereum Virtual Machine support and the expansion of decentralized finance-related products. <\/p>\n Among the tokens defying the trend today is dogecoin<\/a>, which has surged 5.3% over the past 24 hours and is the strongest performer of the month among the top 15 digital assets, with 25% gains. The meme coin has climbed steadily following Musk\u2019s Thursday offer to buy Twitter for $43 billion and take it private. <\/p>\n Price of Dogecoin according to Coinbase<\/p>\n TradingView<\/small> Another outperformer of the day is XRP, the native digital asset of the XRP Ledger (touted as a competitor to SWIFT), up by nearly 8% over the past 24 hours. XRP\u2019s rise came after its founder Brad Garlinghouse said Thursday the defense against a lawsuit brought by the U.S. Securities and Exchange Commission was going \u201cexceedingly well.\u201d<\/a> The SEC is arguing that the XRP token was issued and sold as an unregistered security to U.S. investors.<\/p>\n<\/div>\n
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