Crypto prices today: LCX, Pendle rises as Contentos, Myro, Wen plunges

Cryptocurrency prices were mixed on Tuesday morning as Bitcoin continued bouncing back. After plummeting to $38,500 last week, Bitcoin has now moved comfortably above $43,500. This is a sign that investors are buying the dip as the recent ETF volatility faded. Here are some of the top movers in the crypto industry on Tuesday.

LCX and Pendle vs Contentos, Myro, and Wen

LCX and Pendle prices are soaring

LCX and Pendle were among the best-performing cryptocurrencies on Monday as their volumes jumped. LCX token price surged to $0.2510, its highest point since December 2021. The little-known token has surged by more than 600% from its lowest point in December.

The current rally has coincided with a sharp increase in the token’s volume. Data compiled by CoinDesk shows that the volume of LCX jumped from just $45k on January 26th to over $2.8 million on the 27th. It has now risen in the past four straight days and stood at over $7.2 million on Tuesday.

The performance of LCX is a sign that the token is gaining traction as its market cap hits over $190 million. It jumped after the company unveiled MasterDEX’s first airdrop for LCX holders with MDEX tokens. 

Pendle token price has also gone vertical, hitting its all-time high of $2.7. It has jumped by more than 7,480% from its lowest point in 2023 and the uptrend is continuing. Pendle’s surge has coincided with a sharp increase in its volume from $193 million on January 23rd to over $251 million.

For starters, Pendle is an Arbitrum platform that enables people to earn yields for their investments. stETH has a fixed yield of 4.9% while eTH has a yield of 30.92%.

Contentos, Myro, and Wen prices plunge

On the other hand, the top laggards in the crypto market were Contentos (COS), Myro, and Wen, which all plunged by more than 15% on Tuesday. These tokens suffered a harsh reversal after they jumped sharply on Monday. 

For example, Contentos token initially surged to $0.012 on Monday and then nosedived to $0.008. Contentos is a company that aims to create a platform where people can create and distribute their content and get paid. It has partnerships with Samsung Blockchain, Binance Chain, Chainlink, and Theta.

Myro, on the other hand, continued to nosedive after it surged to a record high of $0.26 last week. It has now moved into a deep bear market as demand for the token waned and as investors started to take profits. 

Wen, a new Solana meme coin has also erased most of the gains it made on Monday as holders start to take profits following its airdrop. 

Looking ahead, the next key catalyst for cryptocurrency prices will be the upcoming Federal Reserve decision. In it, the bank will provide more information about what to expect in the coming meetings. In December, the committee hinted that they would deliver three cuts this year.

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