Mooners and Shakers: Doldrums in Crypto Market as Drivers of US Dollar; Helium loses gas – Stockhead

Bitcoin continues to float in uncertain territory. He can see the US dollar tumbling in the distance, hitting 20-year highs. Meanwhile, IoT crypto Helium (HNT) is deflating.

The crypto is not without its major positive stories, although the Ethereum merger will want to be, at the very least, a technical success when it finally begins to merge this month, lest it contribute to a new drop in sentiment.

But at the moment, for the short-term price concerned, any small pump seems well kept at bay by the surging US Dollar Index, which has broken through some resistance at its 109 mark and seems in the mood. to storm another door.

Here’s crypto analyst Justin Bennett’s take…

And then there’s that too, of course…

One thing, however, the S&P 500 and the Dow Jones both managed to close in the green on the first day of September. Maybe the insomniac crypto market can pick up the slack before the weekend…

Overview of the top 10

With the overall crypto market capitalization at US$1.03 trillion and up around 0.5% since yesterday, here is the current state of affairs among the top 10 tokens – according to CoinGecko.

Highs and lows: 11–100

Sweeping a market cap range of around US$8.2 billion to around US$423 million across the rest of the top 100, let’s take a look at some of the biggest 24-hour winners and losers as of press time. (Stats accurate at time of publication, based on data from


Celsius Network (CEL), (market capitalization: 589 million USD) +25%

EOS (EOS), (mc: USD 1.52 billion) +10%

Evmos (EVMOS), (mc: US$727 million) +7%

Litecoin (LTC), (mc: 4.1 billion USD) + 6%

Hub Cosmos (ATOM), (mc: 3.7 billion USD) +6%

DAILY SLUMPERS: Helium out of gas

Helium (HNT), (market cap: USD 609 million) -10%

LEO token (LEO), (mc: USD 5.17 billion) -5%

Chiliz (CHZ), (mc: USD 1.14 billion) -3%

Synthetix Network (SNX), (mc: USD 690 million) -3%

NEXO (NEXO), (mc: USD 589 million) -3%

So why has helium (HNT) deflated in recent days? First of all, what is it? Stockhead took a look at it last year and you can find out more here. But if you want the fast, squeaky, high-pitched voice version… it’s a blockchain network in the IoT (Internet of Things) sector of crypto, and it uses nodes as access points to connect wireless devices to its network.

It is currently trending down due to a fairly large drop announcement its developers did on Tuesday. Essentially, they presented a proposal (HIP-70) that would remove its own blockchain network and transfer the project to Ethereum’s main Layer 1 competitor, Solana (SOL).

This clearly took HNT investors by surprise. And symbolic prices do not always create surprises. As a result, HNT is now down around 28% on the week.

Still, the developers believe this will ultimately be a net benefit to the overall speed, security, and scalability of the ambitious project, with potentially more HNT reward tokens distributed to the pool of node operators.

By the way, Solana’s SOL token might somehow care less about this news for now. In the last 24 hours, he seems to be aiming for his personal best of 0% boards.

around the blocks

A selection of chance and relevance that marked us during our morning trips through the Crypto Twitterverse…

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