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Market highlights January 19: Sea of red for major cryptos, oil at 7-year high

All top 20 cryptos except Terra at #9 were down over the past 24 hours. Oil gushed past $86 late Tuesday night, its highest price since 2014, with a slew of geopolitical events contributing to tighter supplies. 

An oil pipeline from Iraq to Turkey exploded, halting oil flow. Terrorists attacked oil storage facilities and fuel tankers in the UAE on Tuesday. 

Tensions on the Russian-Ukrainian border threaten disruption of supplies as OPEC+ countries struggle to meet their target output while global demand for oil only increases. At the time of writing, oil was trading above $85.

US stocks slumped yesterday following a spike in Treasury yields. All Wall Street indices were in the red yesterday as the DJ30 and SPX500 fell 1.5% and 1.8%, respectively, while the NASDAQ100 plummeted 2.6%.

Top cryptos

Cardano ended its winning streak, diving more than 10%. Polkadot followed, sliding more than 4%, Ethereum and BNB dropped more than 3%, while XRP and Solana were all down more than 2%.

Bitcoin was trading below $42,000 at time of writing. The only top 20 winner was Terra, whose token Luna gained 5% in the last 24 h.

Crypto ATMs in Singapore halted services as regulators frown on easy consumer access to cryptocurrency. Bank of NY Mellon sees crypto assets potentially generating a meaningful source of revenue in the next 2-3 years.

Top movers

The top 100 more or less mirrored the movements in the top 20. A notable exception is Stacks, a layer-1 blockchain solution that is designed to bring smart contracts and decentralized applications (DApps) to Bitcoin (BTC). It is up 17% today.

The native token of Theta Network, THETA, was easily one of today’s biggest and few winners, up more than 9% in the last 24 hours. Theta Fuel, the token powering the Theta blockchain, is also up today – by 14%. At the other end of the scale is Harmony, ending its gains with a dive of 13%.

Trending

The biggest gainer of the day is Patron, the token of an influencer sharing economy platform. The Japanese company’s cryptocurrency added 2,970% to its value in the last 24 h.  

Rainbow Token is a hyper-deflationary, ethical DeFi token running on Binance Smart Chain, which combines seven features into a single crypto asset. It was listed on Stealth Exchange two days ago and has gained 18% today.

The Lunar token is surging on news of a Bitmart listing. Lunar added 11% to its value today.

The post Market highlights January 19: Sea of red for major cryptos, oil at 7-year high appeared first on Coin Journal.

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Top places to buy Rainbow Token, the hottest new cryptocurrency

Rainbow Token is a hyper-deflationary, ethical DeFi token running on Binance Smart Chain, which combines seven features into a single crypto asset. It was listed on Stealth Exchange two days ago and has gained 18% today.

Look no farther than this article to learn the details around Rainbow, including if it makes a worthwhile investment and the best places to buy Rainbow Token today.  

Top places to buy Rainbow Token now

As RAINBOW is such a new asset, it’s yet to be listed on major exchanges. You can still purchase RAINBOW using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy RAINBOW right now, follow these steps:

1. Buy BNB on a regulated exchange or broker, like Binance ›

We suggest Binance because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your BNB to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the SushiSwap DEX

Head to SushiSwap, and ‚connect‘ your wallet to it.

4. You can now swap your BNB for RAINBOW

Now that you’re connected, you’ll be able to swap for 100s of coins including RAINBOW.

What is Rainbow Token?

Rainbow Token launched on the 18th of August, 2021. It takes 7 colors and assigns each of them a special protocol that is built into the tokenomics of the smart contract.

RAINBOW plans to develop a decentralized platform service called Bifrost that allows users to launch their own tokens in a safe way. It wishes to improve upon current solutions, with a particular focus on reduced fees.

Bifrost will feature a clean user interface, flexible and modifiable sales, fair and low fees, and public and private presales with whitelisting features.

Should I buy Rainbow Token today?

Don’t make an investment without conducting your due diligence first. Take your tolerance of risk into consideration because you invest funds at your own risk.   

Rainbow Token price prediction

Wallet Investor expects a long-term increase. Their price prognosis for January 2027 is $0.00000019. A 5-year investment will generate revenue of around +1,780%. If you put $100 into Rainbow Token now, it might go up to $1,880 in 2027.   

Rainbow Token on social media

The post Top places to buy Rainbow Token, the hottest new cryptocurrency appeared first on Coin Journal.