KAVA rose 9.5% as the cryptocurrency market declined

The cryptocurrency market has lost almost 3% of its capitalization in the past 24 hours, as of the morning of January 19, 2023.

Quotes of all key digital currencies fell within 24 hours. That came on the back of news that the U.S. Justice Department was going to make some statements about regulating cryptocurrencies, and the U.S. Federal Reserve (Fed) officials floated rumors that they would raise interest rates by 0.5% instead of the projected 0.25%. However, the Kava virtual token (KAVA) managed to rise in value by 9.56%.

This cryptocurrency became the best in terms of daily returns on the virtual asset market. As of January 19, 2023, KAVA was trading at $1.03 with a capitalization of $395.36 million. Trading volumes for the last 24 hours totaled $403.98 million.

Besides, good results were shown by Aptos (APT) rate, whose quotations reached $8.03. This is 4% more than yesterday. The market capitalization of the digital coin equaled $1.04 bn, and the daily volumes of deals were registered at $658.41 mln.

As for the main losers of the day, the worst result was seen in the cryptocurrency Rocket Pool (RPL), which lost 17.3% after listing on the Binance trading platform. The virtual asset dropped to 94th place in the ranking of the best with an index of $348.01 million.

RPL quotes were $33.9, and transaction volumes recorded $81.9 million for the day.

The flagship cryptocurrency bitcoin (BTC) fell 2.08% in the past 24 hours and was available for purchase at an average price of $20,848. The total supply of coins circulating was $401.72 billion. Market participants secured transactions worth $29.91 billion in the past 24 hours.

Irina Dudak

News correspondent of the cryptocurrency and blockchain market.
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