Market highlights February 7: XRP up 13%, US markets recover lost ground

The crypto market as a whole was in the green at time of writing, with the majority of top 10 cryptos registering gains over the past 24 hours. The three major US indices all recovered small amounts of lost ground last week as mixed results among tech firms pushed stocks higher.

Amazon’s stock surged 13.54% on Friday on the back of positive earnings results. About $11.8 billion of Amazon’s profits came from the e-commerce giant’s investment in the electric truck maker Rivian Automotive.

Top cryptos

Bitcoin was up more than 2% at time of writing, trading above $42,000. Ethereum also climbed around 2%, while Cardano and Solana registered gains of 3% and 4%, respectively.

XRP is the biggest gainer in the top 10, adding 13% to its value. Shiba Inu is rallying due to a strong focus on burning tokens, including on Valentine’s Day, when the ecosystem has a Burn Party scheduled. 

Other reasons include strong payment partners and an active focus on SHIBVERSE. Shib gained 22% today.   

Top movers

There were moderate gains for most top 100 coins of 2% – 5%. Fantom gained 8% and LEO added 15% to its value.

GALA is recovering from the losses suffered by most metaverse tokens over the last few days. It is up 13% today.

Quant’s extended rally continues. It gained 18% today, bringing its total growth to 69% this past week. Other top movers include Loopring (+11%), Kadena (+12%), and Secret (+7%).

Trending

Metaverse token MetaPay gained 630% today. It has been rallying over the last several days. MetaPay lets you sell parcels and avatars in Metaxion metaverse. 

Participants can build a structure on the parcels they have purchased. They will also be able to view it in AR in the MetaPay application to be released soon. 5% from the sale of MetaPay tokens and 3% from the purchase of MetaPay tokens are distributed to investors.

CHEDDA has been surging recently and continues to. It has broken $0.01, trading for $0.014 at time of writing. Chedda Token is up 41% in the last 24 hours.