CryptoSlate Daily wMarket Update – Nov. 7: Markets turn red as FTT dumps amid rumors of liquidity issues CryptoSlate Daily wMarket Update – Nov. 7: Markets turn red as FTT dumps amid rumors of liquidity issues
The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.
3 min read
Updated: Nov. 8, 2022 at 12:47 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
In the last 24 hours, the cryptocurrency market cap saw net outflows of $48.79 billion to $971.29 from $1,028.2 billion as of press time — down 4.79%.
Bitcoin’s market cap fell 5.03% to $378.86 billion from $398.3 billion. Ethereum’s market cap also decreased by 6.29% to $181.53 billion from $193.3 billion.
Over the last 24 hours, the top 10 cryptocurrencies all posted losses. Solana and Dogecoin lead the losses, posting over a 10% drop respectively, during the reporting period. BTC saw a 5.09% loss, while ETH fell 6.26%
The market caps of Tether (USDT) and BinanceUSD (BUSD) stayed largely flat at $69.4 billion and $22.5billion, respectively. USD Coin (USDC) saw an increase to $43.15billion.
Bitcoin
Over the last 24 hours, Bitcoin posted losses of 5.09% to $19,698 as of 07:00 ET. Its market dominance decreased to 38.66% from 38.77%.
BTC peaked at $20,882 during the last 24 hours and bottomed at $19,448, according to CryptoSlate data.
Ethereum
Over the last 24 hours, Ethereum decreased 6.26% to $1,480as of 07:00 ET. Its market dominance also decreased to 18.58 from 18.8% as of press time.
ETH’s lost its $1,500 support around 21:00 UTC. The second-largest digital asset peaked at $1,604 and bottomed at $1,443.
Top 5 Gainers
Reef
REEF is the day’s biggest gainer, up 20.23% to $$0.00602 as of press time. The liquidity aggregator has risen by over 13% in the last seven days. Its market cap stood at $123.32 million.
Decentralized Social
DESO is among the day’s top gainers, rising 13.3% in the last 24 hours to $15.12. The decentralized social network has seen increased interest following Elon Musk’s purchase of Twitter, Its market cap stood at $131.82 million.
DeXe
DEXE rose 8.72% to $3.28 as of press time. The native token of the social trading platform has gained over 9% in the last 30 days. Its market cap stood at $119.95 million.
Astar
ASTR is up 6.04% over the last 24 hours to trade at $$0.04845 as of press time. The token has been on a green run since it was listed on Binance.US, rising by over 30% over the past month. Its market cap stood at $179.31 million.
Chainlink
LINK saw 6.47% gains over the last 24 hours, peaking at over $9.20. Santiment reported that traders are longing the asset massively as it has recently seen many active addresses. Its market cap stood at $4.31 billion.
Top 5 Losers
Hashflow
HFT is the day’s biggest loser, tanking by over 64% in the last 24 hours to $0.898. It was unclear why the token fell as it was recently listed on Binance. Its market cap stood at $157.45 million.
FTX Token
FTT continues its poor price performance, shedding roughly 24% of its value in the last 24 hours. The token is currently in the eye of the storm, following Binance decision to liquidate its position. Its market cap stood at $2.26 billion.
RenderToken
RNDR fell 22.6% to trade at $0.706 as of press time. Its market cap stood at $179.21 million.
Mdex
MDX plunged 18.87% to $0.10388 in the last 24 hours. The AMM DEX has been up 99.5% over the past month. Its market cap stood at $96.07 million.
Mask Network
MASK dropped 16.9% of its value and is currently trading for $3.68 as of press time. Its market cap stood at $$107.5 million.
Mentioned in this article
Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,370.77
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Solana
$258.776
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
FTX Token
$2.54008
FTX is a cryptocurrency derivatives exchange that offers futures, leveraged tokens and OTC trading.
Mask Network
$2.98004
Mask Network is a decentralized portal that allows users to seamlessly send encrypted messages, use dapps like crypto payment, decentralized finance, decentralized storage, e-commerce (digital goods / NFTs), decentralized organizations (DAO) over the top of existing social networks without migrating, and thereby creates a decentralized Applet (DApplet) ecosystem..
Hashflow
$0.19834
Hashflow is a decentralized exchange designed for interoperability, zero slippage, and MEV-protected trades.