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CryptoSlate Daily wMarket Update – Nov. 18-20: TRON ousts Solana from top 10 rankings Samuel Wan · 2 years ago · 3 min read

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CryptoSlate Daily wMarket Update – Nov. 18-20: TRON ousts Solana from top 10 rankings

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

Samuel Wan

Nov. 21, 2022 at 12:45 pm UTC

3 min read

Updated: Nov. 21, 2022 at 1:01 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 net outflows of $31.56 billion to $796.6 billion, down 3.8% from $828.16.

Bitcoin’s market cap decreased by 4% to $308.8 billion from $322 billion. Ethereum’s market cap fell 8% to $137.1 billion from $149.1 billion.

The top 10 cryptocurrencies all sold off over the reporting period, with Dogecoin and XRP leading the biggest losses at 7.7% and 7%, respectively. Meanwhile, TRON fared best, losing 0.6% over the last 24 hours and ousting Solana from the top ten.

Over the reporting period, the market caps of Tether (USDT) and BinanceUSD (BUSD) remained flat at $65.9 billion and $22.9 billion, respectively. Meanwhile, the market cap of USD Coin (USDC) increased 0.9% to $44.4 billion from $44.09 billion.

Bitcoin

In the last 24 hours, Bitcoin lost 2.7% to trade at $16,088 as of 07:00 ET. Its market dominance rose slightly to 38.8% from 38.5% over the reporting period.

The leading cryptocurrency was trading flat until a breakdown Sunday evening turned into a spill that bottomed at $15,900. Market sentiment remains fragile over fears of contagion affecting the Digital Currency Group and its subsidiary companies Grayscale and Genesis.

Ethereum

ETH decreased by 4% over the last 24 hours to trade at $1,124 as of 07:00 ET. Its market dominance fell to 17.3% from 17.8% over the reporting period.

Price action for Ethereum mirrored Bitcoin. A local bottom of $1,105 was found just before 06:00 today.

Ethereum chart — Source: TradingView.com

Top 5 Gainers

Serum

SRM is the day’s biggest gainer, growing by 24.5% as of press time to $0.27561. Serum underwent a fork to distance itself from the FTX debacle. Since then, the token has grown 40% in value. Its market cap stood at $72.55 million.

Bitcoin Standard Hashrate Token

BTCST is up 10.8% over the reporting period to $7.16520. The BTC mining liquidity protocol is up 20.4% over the past week. Its market cap stood at $87.43 million.

NEM

XEM increased by 5.8% over the last 24 hours to $0.03456 as of press time. Its market cap stood at $311.02 million.

Syscoin

SYS increased by 3.3% to $0.12009 over the reporting period. Its market cap stood at $80.58 million.

Storj

STORJ gained 3% in the last 24 hours to trade at $0.33668 as of press time. The storage protocol has risen by 14% over the last seven days. Its market cap stood at $139.03 million.

Top 5 Losers

DFI.Money

YFII is the day’s biggest loser sinking 49.7% over the last 24 hours to $1,861.16 as of press time. No new fundamental developments have come to light, however, onchain analysis shows selling pressure coming from whales offloading their holdings. Its market cap stood at $71.83 million.

Chiliz

CHZ is down 15.6% to $0.19285 at the time of press. Since the start of this month, the token has experienced extreme volatility in both directions. Its market cap stood at $1.18 billion.

Polymath Network

POLY recorded a 12.6% loss over the reporting period to trade at $0.19852 as of press time. Its market cap stood at $183.63 million.

Algorand

ALGO was down 12.2% to $0.24691 as of press time. The token is down 19.8% over the past month. The Algorand Foundation recently confirmed zero affiliation with FTX. It is unclear why ALGO continues to sell off. Its market cap stood at $1.76 billion.

iExec RLC

RLC fell 8.8% over the reporting period to $1.05678 as of press time. Despite today’s drawdown, the token is still up 32.8% over the past week. Its market cap stood at $85.6 million.

Mentioned in this article

Bitcoin

Ethereum

Serum

Bitcoin Standard Hashrate Token

Posted In: Bitcoin, Wrapped

Author

Samuel Wan

Analyst at CryptoSlate

Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

Bitcoin BTC (24h)

$97,369.63 +0.05%

Vol: $99.55B MCap: $1.93T

Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.

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Ethereum ETH (24h)

$3,475.01 +1.04%

Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).

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Serum SRM (24h)

$0.03297 -0.25%

Serum is a decentralized exchange (DEX) built on the Solana blockchain.

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Bitcoin Standard Hashrate Token BTCST (24h)

$0.07677 +2.77%

Bitcoin Standard Hashrate Token aims to bring exchange-grade liquidity to Bitcoin mining and solve the current problem of a limited number of exit options while participating in the mining process.

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NEM XEM (24h)

$0.02464 -0.93%

NEM is a blockchain built from the ground up for enterprise-grade performance.

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Storj STORJ (24h)

$0.46880 +1.08%

Storj is a platform, cryptocurrency, and suite of decentralized applications that allows users to store data in a secure and decentralized manner..

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Syscoin SYS (24h)

$0.11382 +2.52%

Syscoin is a cryptocurrency that offers near zero cost financial transactions like Bitcoin and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely.

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DFI.Money YFII (24h)

$416.520 +6.32%

DFI.Money (previously known as YFII) is a DeFi platform which aims to build products on aggregated liquidity provision, leveraged trading, automated marketing making.

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iExec RLC RLC (24h)

$2.02323 +3.87%

iExec RLC aims at providing distributed applications running on the blockchain a scalable, secure and easy access to the services, the data-sets and the computing resources they need..

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