Despite the rise in Bitcoin and general optimism, 3 tokens have depreciated up to 27% in one week: FLOW, MIOTA and OHM

The first exchange-traded fund (ETF) linked to US Bitcoin (BTC) futures, the ProShares Bitcoin Strategy ETF, will debut on October 19 with the ticker BITO on the New York Stock Exchange (NYSE).

The news comes shortly after the US Securities and Exchange Commission accepted the registration application for ProShares Bitcoin ETF on October 15th. On the same day, the SEC also accepted Valkyrie’s Bitcoin ETF application to list on the Nasdaq, and since then, Bitcoin has seen a rally in which it topped $ 62,000. At press time, the top cryptocurrency is trading at $ 64,170, which according to Coingecko data ensures a weekly gain of 13.8%.

As the market pulsates with the expectation of a Bitcoin ETF, three tokens sour the weekly devaluation: Flow (FLOW) -23.9%, Iota (MIOTA) -13.6% and Olympus (OHM) -27.85%.

Olympus (OHM) -27.85%

Despite the rise in Bitcoin and general optimism, 3 tokens have depreciated up to 27% in one week: FLOW, MIOTA and OHM
Despite the rise in Bitcoin and general optimism, 3 tokens have depreciated up to 27% in one week: FLOW, MIOTA and OHM

The Olympus (OHM) project aims to become a decentralized reserve currency that is jointly owned, ruled by a DAO, and backed by decentralized assets. The team designed the OHM token as a stable reserve currency. An algorithm is used to balance the number of OHM tokens on the market to maintain this stability. The Olympus project has two main methods of preventing traders from selling the token, which will put pressure to buy on the DAO.

  1. Staking is used to encourage token holders to lock their OHM holdings in order to receive excessive rewards.
  2. Bonds as an incentive for users who provide their liquidity.

Source: Coingecko

Today’s Olympus price is $ 796.21, a decrease of 6% over the past 24 hours and a cumulative weekly decrease of -27.85%. Olympus’ market capitalization is unknown. OHM’s 24-hour volume is $ 117.07 million. Olympus is traded on 6 exchanges, the main ones being SushiSwap (Ethereum) ($ 101.38 million), Uniswap V3 (Ethereum) ($ 9.49 million) and Uniswap V2 ($ 4.60 million). Olympus hit an all-time high of around $ 1,350 six days ago.

On the final day, Olympus had 99% transparent volume and was trading in 19 active markets, with the highest trading pairs being DAI ($ 94.87M), ETH ($ 9.73M), and $ 6.19M.

IOTA (MIOTA) -13.6%

IOTA (MIOTA) is the native currency of the IOTA platform, which is designed to maintain, facilitate and incentivize a machine-to-machine (M2M) based economy. It does this by providing an information and transmission system with a protocol that enables almost instantaneous, scalable and secure transactions. The coin is sometimes listed and named as MIOTA, which refers to one million IOTA.

The most noticeable difference of the IOTA platform from others is that it uses a new distributed ledger technology and a quantitative test protocol called Tangle. Instead of a traditional blockchain, Tangle technology uses a method known in mathematics as a directed acyclic graph (DAG). While a blockchain is a sequential chain of blocks in which each block refers to its chronological predecessor, similar to a linked list, in DAG technology each transaction (instead of a transaction block) refers to two previous transactions and does not form a linked list. but a complex network structure.

Source: Coingecko

The price of IOTA (MIOTA) is now at $ 1.2105, a 3% decrease in the past 24 hours and a -13.6% loss in the accumulated weekly. IOTA’s market capitalization is $ 3.36 billion.

The 24-hour IOTA volume is $ 105.60 million, with a circulating supply of 2,779,530,283 and a peak supply of 2,779,530,283. IOTA (MIOTA) is listed on 26 exchanges, the main ones being Binance ($ 31.03 million), OKEx ($ 13.35 million) and Huobi Global ($ 10.20 million). IOTA had an all-time high of $ 5.69 just under 4 years ago.

On the final day, IOTA had a transparent volume of 52% and was trading in 115 active markets, with its competitors being USDT ($ 55.75M), USD ($ 23.17M) and BTC ($ 8.92M) were the highest trading volume.

Flow (FLOW) -23.9%

The Flow token is a digital asset issued by the Flow platform to act as the native currency for their ecosystem. Flow is one of the projects of Dapper Labs, founded in 2018 and best known for its blockchain-based applications such as NBA Top Shot and CryptoKitties, the project that was so successful that the Ethereum network collapsed in 2017.

By feeding the decentralized network, the token is designed in such a way that it scales without fragmentation. Developers can build their business on the flow blockchain and use the applications to control their data.

Flow has a four-node architecture that speeds transaction processing, makes transactions cheaper, while improving hardware capacity. Speed ​​and economy are achieved without affecting decentralization. Nor is it necessary to divide the network into layers or chunks to make it fully functional. The Computing Consensus Split has helped developers increase performance dramatically without compromising security.

Source: Coingecko

The price of Flow is $ 14.18 today, down 4% over the past 24 hours and a cumulative weekly decrease of -23.9%. The market capitalization of Flow is USD 4.33 billion. The daily trading volume of Flow is USD 208.70 million, with a circulation volume of 305,656,288 and a maximum supply of 1,383,150,079.

Flow is traded on 20 exchanges, the main ones being FTX ($ 79.08 million), Kraken ($ 29.54 million), and Binance ($ 24.68 million). Flow hit an all-time high of $ 39.16 eight months ago.

On the final day, Flow had a transparent volume of 68% and was traded in 45 active markets, with the top-selling competitors being USD 102.92 million, USDT (USD 89.75 million) and BTC (USD 7.97 million) .

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you will need to do your own research when making a decision.

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