Bitcoin Takes a Breather as Cardano's ADA and Zcash's ZEC Tune Up
  The latest moves in crypto markets, in context February 2, 2022 Sponsored by  If you were forwarded this newsletter and would like to receive it, sign up here.
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Market Moves By Omkar Godbole Bitcoin (BTC) was lower, slipping in early trading on Wednesday after gaining on eight of the past 10 days.
The latest rally has brought the largest cryptocurrency's price close to $39,000 from a low around $32,900 as recently as Jan. 24.
In broader cryptocurrency markets, Zcash's ZEC token posted gains in Asian trading as the protocol's shift toward a proof-of-stake network and compliance directives won more support from market participants. Zcash cleared the $100 mark, rising as much as 6% over 24 hours and 12% so far this week, according to CoinGecko.
Cardano's ADA token was up 1.3% over the past 24 hours after Input Output, the development company behind the Cardano network, proposed increasing the network's block size.
"We have proposed the next parameter update as we continue to increase #Cardano network capacity in line with the plan. The proposal will increase block size by a further 8KB taking it from 72KB to 80KB," Input Output said in a tweet.
Trader Joe's Native Coin Climbs as the DEX Unveils 'Modular Staking' By Omkar Godbole JOE, the native token of Avalanche-based decentralized exchange (DEX) Trader Joe, is leading a rally in DEX coins after the protocol announced modular staking – a system gives token owners three independent ways of staking their holding.
Messari data show the JOE token has advanced 58% in the past seven days, outperforming DEX giants like UNI, CAKE and CRV by a significant margin. The cryptocurrency was changing hands near $1.4 at press time, representing a 2% drop on a 24-hour basis.
"The token has been drawing demand probably due to its modular staking and the new primitive they are launching," Lucas Outumoru, head of research at IntoTheBlock, told CoinDesk in a Telegram chat. "The coin is relatively undervalued in terms of the revenue the DEX produces relative to its market cap." Full story here: Trader Joe's Native Coin Climbs as the DEX Unveils 'Modular Staking'
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Crypto Prices Bitcoin (BTC) See the latest price here Ether (ETH) See the latest price here The following are the biggest movers in the CoinDesk 20 digital assets over the past 24 hours: Biggest Gainers: Biggest Losers:
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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.
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