CryptoSlate Daily wMarket Update – Nov. 11-13: Crypto markets in a lull following FTX hack CryptoSlate Daily wMarket Update – Nov. 11-13: Crypto markets in a lull following FTX hack
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. 14, 2022 at 1:06 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Over the reporting period, the cryptocurrency market cap saw minor inflows of around $6 billion as the industry rose to $841.76 billion as of press time — up 0.72%.
Bitcoin and Ethereum’s market cap increased by 0.36% and 0.83% to $321.82 billion and $153.89 billion, respectively.
Most of the top 10 cryptocurrencies posted minor gains over the reporting period, with Solana leading the recovery, rising by over 3% as of press time. BTC and ETH recorded slight increases of 0.44% and 1.09%, respectively. XRP and SHIB posted losses of 0.56% and 1.83%, respectively.
The market caps of USD Coin (USDC) and BinanceUSD (BUSD) slightly increased to $44.07 billion and $23.25 billion, respectively. Tether’s (USDT) market cap decreased to $66.3 billion.
Bitcoin
Over the last 24 hours, Bitcoin posted a minor gain of 0.44% to trade at $16,754 as of 07:00 ET. Its market dominance increased to 38.3% over the reporting period.
BTC mostly traded sideways over the weekend. In the last 24 hours, it traded for as low as $15,872 before surging to around $16,750. Meanwhile, CryptoSlate research stated that Bitcoin investors have continued accumulating the asset despite FTX’s implosion.
Ethereum
ETH gained 1.09% in the last 24 hours, trading for $1,255 as of 07:00 ET. Its market dominance rose to 18.3%.
Like BTC, ETH mostly traded sideways over the weekend, bottoming at around $1,210. In the last 24 hours, ETH printed a huge green candle that pushed its value to around $1,250 as of press time.
Top 5 Gainers
Trust Wallet Token
TWT is the day’s biggest gainer, growing by 51.45% to $2.42 as of press time. The Trust Wallet utility token enjoyed enormous patronage following Changpeng Zhao’s tweet on self-custody. Its market cap stood at $1.03 billion.
KuCoin Token
KCS rose by 19.4% to $7.98 in the last 24 hours. The native token of the KuCoin exchange is one of the numerous exchange-linked tokens under the spotlight following FTX’s collapse. Its market cap stood at $785.55 million.
Convex Finance
CVX recorded gains of 17.76% over the reporting period to trade at $4.32 as of press time. The DeFi token has shed over 17% of its value over the last seven days. Its market cap stood at $304.71 million.
Axie Infinity
AXS is up 15.39% to trade at $7.30 as of press time. It was unclear why the token was rising. Its market cap stood at $702.88 million.
Mdex
MDX’s value grew 14.05% to $0.079 in the last 24 hours. The AMM DEX has been up 99% over the past month. Its market cap stood at $77.33 million.
Top 5 Losers
FTX Token
FTT is the day’s biggest loser, crashing by 20.46% in the last 24 hours to $1.50. The native token of the embattled crypto exchange suffered more beating after the exchange suffered a hack over the weekend. Its market cap stood at $492.4 million.
Celsius
CEL fell 12.73% over the reporting period to $0.49 as of press time. The struggling token has shed 51% of its value in the last 30 days. Its market cap stood at $117.45 million.
Sologenic
SOLO fell 7.36% over the reporting period to $0.20. The liquidity protocol lost 28% over the last seven days. Its market cap stood at $83.54 million.
XinFin
XDC plunged 6.53% gains over the past 24 hours to trade at around $0.024 at press time. The token’s market cap stood at $303.66 million.
Secret
SCRT lost 6.38% of its value in the last 24 hours, trading for $0.61 as of press time. Its market cap stood at $99.73 million.
Mentioned in this article
Bitcoin 
Ethereum 
Sologenic 
Mdex 
Celsius 
FTX Token 
KuCoin Token 
Trust Wallet Token 
XDC Network 
Secret 
Convex Finance 
Axie Infinity 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
$3,300.92
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Sologenic
$0.59095
Sologenic deploys SOLO coins for market-making and liquidity providing.
Mdex
$0.01298
Mdex is an automatic market-making decentralized exchange based on the concept of fund pools.
Celsius
$0.22554
Celsius Network is a P2P decentralized lending & borrowing platform.
FTX Token
$2.65343
FTX is a cryptocurrency derivatives exchange that offers futures, leveraged tokens and OTC trading.
KuCoin Token
$10.9987
KCS performs as the key to the entire KuCoin ecosystem, and it will also be the native asset on KuCoin’s decentralized financial services as well as the governance token of KuCoin Community..
Trust Wallet Token
$0.95782
Trust Wallet Token (TWT) is the official token of Trust Wallet, a user-friendly and versatile mobile cryptocurrency wallet that supports a wide range of assets across various blockchains.
XDC Network
$0.04587
XDC Network (formerly known as XinFin Network) is a hybrid (public / private) blockchain platform that combines the transparency of public blockchains with the speed and security of private networks.
Convex Finance
$2.61897
Convex Finance is a platform built to boost rewards for CRV stakers and liquidity providers alike, all in a simple and easy to use interface.
Axie Infinity
$5.74524
Axie Infinity is a game about collecting and raising fantasy creatures called Axie, on Ethereum platform.