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The most profitable cryptocurrencies of the day are named
As of October 11, 2022, two cryptocurrencies from the top 100 ranking showed rapid growth. TerraClassicUSD (USTC) and Huobi Token (HT) recorded the best results. Thus, the USTC token, once pegged to the US dollar (USD), grew by 55.7% per day and is worth $ 0.053. The market capitalization of the digital asset amounted to $ 521.63 million, and the volume of trading transactions was $ 306.29 million.
In late September, the US government drafted a bill that would ban the issuance of TerraClassicUSD (USTC) algorithmic stablecoins. The bill criminalizes the creation of new stablecoins without a fund to protect investors' money. Cryptocurrency companies will be required to keep client funds separate from the company’s assets to protect investors' money in case of bankruptcy. As we can see, the collapse of Terraform Labs and the problems with its founder Do Kwonare affecting cryptocurrency regulatory policy around the world. According to Jake Czerwinski, executive vice president and head of policy at the Blockchain Association, Terra’s failure is forcing the regulator to establish strict oversight of the digital asset market.
Huobi Global (HT) took the second place in the top yields. Over the past 24 hours, the virtual currency has risen in price by 15.6%. The daily trading volume amounted to $ 198.39 million, and the total supply of coins circulating on the market is $ 783.24 million.
The Maker cryptocurrency (MKR) grew by 2.99% over the past day and is trading at $ 949.93. In turn, the virtual asset Convex Finance (CVX) grew by 1.3% and is worth $ 5.53.
In contrast, the Chiliz fan token showed a 12.5% drop in value over the day. The asset is now available for $ 0.187, and its market capitalization has dropped to $ 1.12 billion. Traders made daily deals worth $ 370.98 million.
Recently, the flagship cryptocurrency bitcoin was first predicted to rise and then fall to new lows. At the time of writing, BTC is trading at $ 19,045, with a market capitalization of $ 4.414 billion.