December 2: LUNA displaces SHIB, MATIC is biggest top 20 winner, US markets in freefall

The crypto market was mixed over the past 24 hours. Ever since health officials discovered the first Omicron coronavirus variant case in the US, US markets have been in freefall. The SPX500 lost 1.18%, DJ30 went down by 1.34%, and NASDAQ100 registered a drop of 1.83%.

Shares of Moderna plummeted 15% yesterday after it lost a court appeal that could leave it open to a patent infringement suit over its coronavirus vaccine. 

Top cryptos

Bitcoin registered small gains and was trading above $56,000 at time of writing. Ethereum and XRP were each down around 3%, and Cardano was seen around 1% lower. Solana registered gains of around 3%.

Terra’s LUNA coin continues its advent on the charts. It has gained 4.76% today and more than 50% over the past seven days, displacing Shiba Inu from the 12th spot by market cap on Coinmarketcap. Shiba Inu has lost just under 5% today, backtracking on recent gains from a prominent listing.  

Polygon, the 15th largest cryptocurrency by market cap, is changing hands for $2.06 with a 24-hour trading volume of $3.76 billion. It is the biggest winner in the top 20, gaining almost 9% in the last 24 hours. Coin Quora expects the price of Polygon to reach $35 by 2025. 

Top movers

Stacks is down almost 16%, partially reversing recent gains. The same goes for Immutable X, which is down around 12% today.  

Trending

Request’s price jumped on news of a partnership with The Sandbox recently. Today, it’s up almost 36%.

Bread gained 31.78%. After the company was acquired by Coinbase, the token’s market value increased by more than 600% in just 24 hours. There are no signs of these gains being reversed anytime soon.