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CryptoSlate Daily wMarket Update – Nov. 3: Polygon maintains bullish run of form Samuel Wan · 2 years ago · 3 min read

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CryptoSlate Daily wMarket Update – Nov. 3: Polygon maintains bullish run of form

The wMarket Update condenses the most important price movements in the crypto markets over the last 24 hours, published 07:45 ET on weekdays.

Samuel Wan

Nov. 4, 2022 at 11:45 am UTC

3 min read

Updated: Nov. 4, 2022 at 12:25 pm UTC

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Over the last 24 hours, the cryptocurrency market cap saw net inflows of $21.2 billion to $1,030.6 billion from $1,009.4 billion as of press time — up 2.1%.

During the reporting period, Bitcoin’s market cap grew 1.7% to $395.8 billion from $389.2 billion. Meanwhile, Ethereum’s market cap increased by 2% to $194.3 billion from $190.4 billion.

The top 10 cryptocurrencies posted gains over the last 24 hours, except Dogecoin, which is down 10.4% due to news that Twitter is being sued for failing to provide sacked workers with sufficient notice. Polygon leads the large caps thanks to partnering with Meta for NFTs, growing 14.9% over the period.

The market caps of Tether (USDT) and BinanceUSD (BUSD) stayed largely flat at $69.4 billion and $21.7 billion, respectively. USD Coin (USDC) saw a decrease to $42.7 billion.

Bitcoin

Over the last 24 hours, Bitcoin posted marginal gains of 1.6% to $20,604 as of 07:00 ET. Its market dominance decreased to 38.4% from 39.0%.

During the reporting period, BTC began moving higher during Thursday evening to peak at $20,700 during the early hours of today. Price action has since traded largely flat.

Ethereum

Over the last 24 hours, Ethereum increased 2.3% to $1,581 as of 07:00 ET. Its market dominance fell slightly to 18.8% from 18.9% as of press time.

ETH’s price movement over the reporting period mirrored BTC’s. A pump on Thursday evening set off an uptrend that peaked at $1,600. Bears have since applied pressure to stop a continuation higher. However, the majority of gains made over the last 24 hours have been retained.

Ethereum chart — Source: TradingView.com

Top 5 Gainers

Band Protocol

BAND is today’s biggest gainer, up 108.6% to $3.24465 as of press time. The decentralized oracle protocol continues its phenomenal run – up 190% over the last week. Its market cap stood at $114.19 million.

Loopring

LRC’s value grew by 29.2% to $0.35424 in the last 24 hours. Its market cap stood at $471.19 million.

OKB

OKB saw 24.1% gains over the last 24 hours to trade at $20.3656. The utility token of the OK Blockchain Foundation saw a strong spike early Thursday evening (UTC). Its market cap stood at $1.22 billion.

Fantom

FTM gained 4.2% in the last 24 hours to trade at $0.27929 at press time. The DeFi protocol was boosted by rumors of the return of Andre Cronje. Its market cap stood at $710.79 million.

Basic Attention Token

BAT rose 7.2% in the last 24 hours to $0.32188 as of press time. The digital advertising browser platform is up 10.5% over the past week. Its market cap stood at $481.43 million.

Top 5 Losers

Mask Network

MASK is the day’s biggest loser, sinking 17.3% to trade at $4.50254 at press time. Despite the drawdown, MASK remains up 244.9% over the past month. Its market cap stood at $131.16 million.

Gala

GALA is down 11.5% to trade at $0.03512 at the time of press. The gaming ecosystem suffered an exploit, tanking its price. Its market cap stood at $245.02 million.

Dogecoin

DOGE fell 10.4% over the reporting period to $0.1194. The meme coin fell over news Twitter had paused its crypto integration plans and is being sued by laid-off workers. Its market cap stood at $15.82 billion.

Dogelon Mars

ELON dropped by 8.3% to $0.000000432698 over the reporting period. It is unclear why the token sunk; however, links to Twitter and Elon Musk are assumed. Its market cap stood at $239.55 million.

Storj

STORJ recorded a 4.8% loss over the last 24 hours to trade at $0.47529 as of press time. The data storage protocol is still up 14.7% over the past week. Its market cap stood at $196.27 million.

Mentioned in this article

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)

$94,819.91 +1.72%

Vol: $54.15B MCap: $1.88T

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)

$3,411.64 +2.38%

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

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Band Protocol BAND (24h)

$1.50106 +4.05%

Band Protocol offers a decentralized data oracle by making data readily available to be queried on-chain, using delegated proof of stake (“dPoS”) to ensure data integrity.

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OKB OKB (24h)

$50.2354 +1.59%

OKB is a global utility token issued by OK Blockchain Foundation.

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Loopring LRC (24h)

$0.20420 +3.23%

Loopring is a decentralized automated execution system that trades across the crypto-token exchanges, shielding users from counterparty risk and reduce the cost of trading..

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Optimism OP (24h)

$1.87476 +4.09%

Optimism is a layer-2 scaling network for the Ethereum blockchain.

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Fantom FTM (24h)

$0.74785 -3.93%

Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.

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