Market highlights January 18: Cardano continues to rally, oil toys with 52-week high

The crypto market is bearish as a whole. Oil prices jumped in the past 24 hours to just under $85 as it appears that output will remain tight. At time of writing, oil was trading at $84.82, just 20 cents shy of its 52-week high.

With US markets closed due to it being a public holiday, investors’ focus shifted to Europe yesterday. The EUSTX50, representing the eurozone’s 50 largest companies, ticked up 0.7%.

Top cryptos

Cardano stood out once again among major cryptos, adding almost 3% over the past 24 hours and upping its gains to 35% in the past 7 days. These gains come ahead of SundaeSwap’s January 20th launch. It will be the first decentralized finance exchange using the Cardano blockchain.

Solana, Ethereum and BNB all slid more than 2%, and Bitcoin was trading above $42,000 at time of writing.

Terra and Polygon are the biggest losers in the top 20. Both lost 10% of their value today. Near Protocol is down 9% and Chainlink and Polkadot are down 7% in the last 24 hours.  

Top movers

Most of the top 100 biggest coins by market cap have lost between 3 and 6% of their value. Cosmos is reversing recent gains with a loss of 11% today. Fantom is close behind it, down 9%. Axie Infinity has lost 10%. 

Monero has lost just under 11% so far, also backtracking on recent wins. 1inchnetwork is down 7%.  

Trending

Knight War: The Holy Trio is an upcoming semi-decentralized, play-to-earn game in the Idle Defense Genre. Its native token MRE is up 311% as launch approaches.

Telos, a superfast and scalable blockchain focused on real world use and adoption, is one of the biggest winners of the day. It added an impressive 53% to its value.

Propy is also trending. The token was built with the vision to automate the real estate sales process. Propy is up 47% in the last 24 hours.