Market highlights December 6: Crypto bloodbath ensues, all US indexes in the red

The crypto markets were seen lower this morning. All three major US indices ended last week in the red as coronavirus-induced volatility returned to markets. After a continuous climb since its 2020 IPO, shares of project management software company Asana plunged 26% last week, following its Q3 earnings report. 

Top cryptos

Bitcoin prices registered major losses over the weekend. On Friday morning, Bitcoin was trading at around $57,000, but had fallen to around $43,000 by Saturday. On Sunday, Bitcoin managed to recover some of its losses, trading above $48,000 early this morning. Other major cryptos were also in the red at time of writing, with Ethereum registering minor losses over the past 24 hours, and Cardano and XRP 4% and 5% lower. Outside the top 10, Algorand registered gains of approximately 11%. It’s currently down by 4%.

Top movers

No. 45-ranked BitTorrent, a popular peer-to-peer (P2P) file sharing and torrent platform which has become increasingly decentralized in recent years, is one of the few gainers in the top 100. It’s up 20% today. Originally released in July 2001, BitTorrent was purchased by blockchain platform TRON in July 2018.  All other coins have plummeted, most between 5% and 15%.

Trending

First launched on May 12, 2021, Meta Rewards Token is a deflationary token designed to become scarcer over time via token burns and buybacks. All holders of MRT are said to earn a proportional 10% BNB reward from every Buy/ Sell Transaction, which is automatically sent to their wallets. Meta Rewards Token is up over 8,000% today.