CryptoSlate Daily wMarket Update – Nov. 16: Minor large cap sell-off sums up flat sentiment
Image by CryptoSlate

CryptoSlate Daily wMarket Update – Nov. 16: Minor large cap sell-off sums up flat sentiment

The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.

Over the last 24 hours, the cryptocurrency market cap saw net outflows of $8.43 billion and currently stands at $828.16 billion as of press time — down 1% from $836.59 billion on Nov. 16.

Bitcoin's market cap fell 0.5% to $318.5 billion from $319.9 billion, while Ethereum's market cap decreased by 1.6% to $146.8 billion from $149.2 billion.

The top 10 cryptocurrencies all recorded losses over the reporting period. Polygon saw the biggest dip, losing 3.95%, while Solana held flat, down 0.15%.

Top 10 cryptocurrencies
Source: CryptoSlate.com

Over the reporting period, the market caps of Tether (USDT), USD Coin (USDC), and BinanceUSD (BUSD) all decreased to $65.9 billion, $44.3 billion, and $23.1 billion, respectively.

Bitcoin

In the last 24 hours, Bitcoin lost 0.8% to trade at $16,582 as of 07:00 ET. Its market dominance rose slightly to 38.5% from 38.3% over the reporting period.

BTC peaked at $16,722 at 18:00 (ET). Since then, the leading cryptocurrency bottomed at $16,400 to trend slightly higher.

Bitcoin 24 hour chart
Source: TradingView.com

Ethereum

ETH fell 2.4% in the last 24 hours, trading for $1,200 as of 07:00 ET. Its market dominance fell slightly to 17.8% from 17.9% over the reporting period.

ETH hit a local top of $1,228 just before 21:00 (ET). A series of distinctive ladders down followed, with support found at $1,180.

Ethereum 24-hour chart
Source: TradingView.com

Top 5 Gainers

Voyager Token

VGX was up 43.7% to $0.40779 as of press time. Binance has signaled interest in reviving the bankrupt platform. Its market cap stood at $113.56 million.

Volt Inu V2

VOLT increased by 11.3% over the last 24 hours to $0.000001588 as of press time. The token grew 89% over the past week. Its market cap stood at $87.23 million.

Trust Wallet Token

TWT saw 10.7% gains over the reporting period to trade at $2.12277 as of press time. TWT has benefited from the self-custody narrative resulting from the FTX collapse. Over the last 7 days, the token has increased in value by 95%. Its market cap stood at $884.45 million.

Chain

XCN grew 10.2% over the last 24 hours to trade at $0.05222. Its market cap stood at $1.12 billion.

Energy Web Token

EWT increased by 9.9% to $3.43958 over the reporting period. Its market cap stood at $103.4 million.

Top 5 Losers

Secret

SCRT is the day’s biggest loser, falling by 21.5% to $0.79453 as of press time. The token was the leading gainer from yesterday. Its market cap stood at $129.74 million.

Serum

SRM fell by 12.4% in the last 24 hours to $0.27965. As an FTX-associated project, the token has experienced strong downside pressure recently. SRM lost 61.8% over the past month. Its market cap stood at $73.62 million.

Curve DAO Token

CRV decreased 8.4% over the reporting period to trade at $0.54901 at press time. Its market cap stood at $291.84 million.

Yearn Finance

YFI shed 5.8% of its value in the last 24 hours and is trading for $6,176.62 as of press time. Its market cap stood at $226.3 million.

DFI.Money

YFII fell 5.4% in the last 24 hours to $2,483.10 as of press time. Despite placing in the top 5 losers, the DeFi protocol has been on a tear lately, growing 146% over the past month. Its market cap stood at $95.84 million.

Article context

Mentioned in this article

Related Asset Bitcoin #1 BTC $83,983.02 24-hour change: down 0.22% Loading price history… 24H Down 0.22% 7D Up 8.42% 30D Up 6.52% Related Asset Ethereum ETH $2,673.92 24-hour change: down 0.54% Related Asset Voyager Token VGX $0.09 24-hour change: up 8.25% Related Asset Volt Inu V2 VOLT $0 24-hour change: down 10.21% Related Asset Trust Wallet Token TWT $0.57 24-hour change: up 4.64% Related Asset Energy Web Token EWT $0.30 24-hour change: down 2.37% Related Asset Secret SCRT $0.00842 24-hour change: down 0.31% Related Asset Serum SRM $0.0068 24-hour change: down 0.19% Related Asset yearn.finance YFI $2,438.76 24-hour change: up 3.20% Related Asset DFI.Money YFII $38.11 24-hour change: down 3.12% Related Asset Curve DAO Token CRV $0.34 24-hour change: up 1.04%