CryptoSlate Daily wMarket Update – Oct. 17: Polygon’s 8% gains leads large caps, but market remains stagnant CryptoSlate Daily wMarket Update – Oct. 17: Polygon’s 8% gains leads large caps, but market remains stagnant
The wMarket Update condenses the most important price movements in the crypto markets over the last 24 hours, published 08:00 UTC on weekdays.
3 min read
Updated: Oct. 19, 2022 at 11:36 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market cap saw net inflows of $12.39 billion since the last wMarket report. As of press time, the total crypto market cap stood at $936.3 billion, up 1.3% over the last 24 hours.
Bitcoin’s market cap grew 1.7% over the reporting period to $375.58 billion from $369.27 billion. Meanwhile, Ethereum’s market cap increased by 2% to $163.35 billion from $160.08 billion.
The top 10 cryptocurrencies all posted marginal gains over the last 24 hours. The exception was Polygon, which saw significant gains of 8% to lead the large caps.
The market caps of Tether (USDT) and BinanceUSD (BUSD) remained flat over the last 24 hours at $68.4 billion and $21.6 billion, respectively. Meanwhile, USD Coin’s (USDC) market cap sees a decrease of $0.35 billion to $44.65 billion.
Bitcoin
Over the last 24 hours, Bitcoin fell 1.5% to trade at $19,558 as of press time. Its market dominance grew slightly to 40.1% from 40% over the reporting period.
Price action over the reporting period was stagnant. A peak of $19,700 was achieved on Oct. 17 before edging lower to bottom out at $19,400 soon after.
Since then, BTC has been caught in a tight trading band between $19,400 and $19,600.
Ethereum
Ethereum’s price grew by 1.8% to trade at $1,333 as of press time. Its market dominance increased slightly to 17.4% from 17.3%.
Over the reporting period, the second-largest cryptocurrency by market cap ranged between $1,309 and $1,341.
Top 5 Gainers
Phala.Network
PHA is today’s top gainer, growing 34% over the reporting period to trade at $0.26882 as of press time. The privacy protocol has been on a tear lately, rising 234% over the last seven days. Its market cap stood at $110.02 million.
Mdex
MDX grew 30% over the reporting period to trade at $0.19716 as of press time. The automatic market-making decentralized exchange is up 224% over the last 30 days. Its market cap stood at $182.15 million.
Ankr
ANKR gained 24% over the last 24 hours to trade at $0.03399 as of press time. Its market cap stood at $328.47 million.
Synapse
SYN rose 19% over the past day to trade at $1.16986 at the time of publishing. Its market cap stood at $163.51 million.
Frax Share
FXS gained 16% over the reporting period, trading at $6.85111 as of press time. The governance token of the Frax ecosystem has posted 30% gains this past month. Its market cap stood at $111.05 million.
Top 5 Losers
Quant
QNT is today’s biggest loser, shedding 9% over the reporting period to trade at $199.755 as of press time. The interoperability protocol is still up 99.5% this past month. Its market cap stood at $2.41 billion.
Decentralized Social
DESO shed 7% in the last 24 hours to trade at $14.7199 as of press time. Despite impressive 122% gains over the last 30 days, the token continues to sell off. Its market cap stood at $130.78 million.
Casper
CSPR lost 4.6% over the past 24 hours to trade at $0.04630 at the time of publishing. Its market cap amounted to $482.94 million.
RichQUACK.com
QUACK recorded a 4.2% loss over the last 24 hours to trade at $0.000000002109 as of press time. The fundraising platform is up 230% in the last 30 days. Its market cap stood at $105.63 million.
Fruits
FRTS posted 4% losses over the past 24 hours to trade at $0.01038 as of press time. The charity focus chain is down 25% over the past month. Its market cap stood at $218.75 million.
Mentioned in this article
Bitcoin 
Ethereum 
Mdex 
Phala.Network 
Ankr 
Synapse 
Frax Share 
Decentralized Social 
Casper 
Quant 
Fruits 
RichQUACK.com Author 
Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Mdex
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Mdex is an automatic market-making decentralized exchange based on the concept of fund pools.
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Phala Network is a privacy-preserving protocol for data-protection and blockchain smart contracts built for the Polkadot ecosystem.
Ankr
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Synapse
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Synapse is a cross-chain layer ∞ protocol powering frictionless interoperability between blockchains.
Frax Share
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The Frax Protocol is the first fractional-algorithmic stablecoin system.
Decentralized Social
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DeSo is a new type of blockchain designed to power Web 3.0 decentralized social networks.
Casper
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The Casper Network is the first live proof-of-stake blockchain built off the Casper CBC specification.
Quant
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RichQUACK.com
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