CryptoSlate Daily wMarket Update – Sept. 16 to Sept. 18

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The total cryp­tocur­ren­cy mar­ket cap saw net out­flows total­ing $59 bil­lion. As of press time, it stood at $903.51 bil­lion, down 6% over the weekend.

Bitcoin’s mar­ket cap fell 5.5% over the report­ing peri­od to $357.68 bil­lion from $378.69 bil­lion. Mean­while, Ethereum’s mar­ket cap fell by 11%, drop­ping from $180.31 bil­lion to $159.70 bil­lion over the same period.

The top 10 cryp­tocur­ren­cies post­ed price declines over the last 24 hours, with Polka­dot post­ing the most sig­nif­i­cant loss­es after falling 11.6%. While XRP fared best, los­ing 5%.

Top 10 cryptocurrencies
Source: CryptoSlate.com

The mar­ket cap of the top three sta­ble­coins — Teth­er (USDT), USD Coin (USDC), and BinanceUSD (BUSD) — remained flat over the past 24 hours, stand­ing at $67.92 bil­lion, $50.16 bil­lion and $20.50 bil­lion, respectively.

Bitcoin

Over the week­end, Bit­coin fell 6.2% to trade at $18,400 as of press time. Mar­ket dom­i­nance rose slight­ly from 39.3% to 39.5% over the period.

Bit­coin trad­ed rel­a­tive­ly flat over the report­ing peri­od, rang­ing between $19,300 and $20,300. How­ev­er, a sharp drop occurred at 03:00 UTC today, lead­ing to a 4% swing to the down­side. The $18,400 lev­el pro­vid­ed sup­port. How­ev­er, a re-test of this sup­port lev­el is imminent.

Bitcoin chart
Source: TradingView.com

Ethereum

Ethereum fell 12% over the week­end to trade at $1,290 as of press time. Mar­ket dom­i­nance dropped from 18.7% to 17.5%.

The hang­over from the Merge sees Ethereum con­tin­u­ing to slide amid a wider mar­ket sell-off. Sun­day after­noon (UTC) saw a series of price drops, with the ear­ly hours of this morn­ing pro­vid­ing respite with the price sta­bi­liz­ing at around $1,290.

Ethereum chart
Source: TradingView.com

Top 5 gainers

Helium

HNT leads the top gain­ers over the last 24 hours, trad­ing around $4.48933 as of press time — up 2.6% over the peri­od. An account­ing error by Binance saw $20 mil­lion over-allo­cat­ed to users. Its mar­ket cap stood at $567.61 million.

BinaryX

BNX record­ed 2.4% gains over the past 24 hours to trade at around $147.249 at press time. The token has appre­ci­at­ed over 700% over the last year. Its mar­ket cap stood at $297.87 billion.

Radio Caca

RACA grew 2.1% over the past 24 hours and was trad­ing at around $0.00038 at the time of pub­lish­ing. Its mar­ket cap stood at $120.96 million.

Algorand

ALGO is up 0.37% over the last 24 hours to trade at $0.24748 at the time of pub­lish­ing. There have been no new sig­nif­i­cant devel­op­ments not­ed. Its mar­ket cap stood at $2.15 billion.

AVINOC

AVINOC is up 0.3% since the last wMar­ket update to trade at $0.24748 at press time. Its mar­ket cap stood at $96.33 mil­lion at the time of writing.

Top 5 losers

Kyber Network

KNC is today’s biggest los­er falling 29.8% over the past 24 hours to trade at around $1.33288 as of press time. The liq­uid­i­ty pro­to­col suf­fered a $265k fron­tend hack two weeks ago. It’s unclear why KNC fell so sig­nif­i­cant­ly at present. Its mar­ket cap stood at $237 million.

Ergo

ERG plunged 23.5% over the past 24 hours and hov­ered around $3.06128 at press time. Its mar­ket cap stood at $179.51 mil­lion. The token began its price decline on Sep­tem­ber 15, the day of the Ethereum Merge, los­ing 38% since then.

Optimism

OP declined 18.6% in val­ue over the report­ing peri­od to trade at $0.91441. A recent Mes­sari report alleged the project’s growth is inor­gan­ic. Its mar­ket cap stood at $214.66 million.

Ethereum Classic

ETC fell 17.8% over the past 24 hours to around $28.15 as of press time. The chain’s hash rate has been surg­ing as Ethereum PoW min­ers switch to alter­na­tive chains fol­low­ing the Merge. Its mar­ket cap stood at $3.85 billion.

Post­ed In: Fea­tured, Wrapped

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