CryptoSlate Daily wMarket Update – Nov. 9: Bitcoin trades at 2-year low as market rut continues CryptoSlate Daily wMarket Update – Nov. 9: Bitcoin trades at 2-year low as market rut continues
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. 10, 2022 at 12:55 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 outflows of around $50 billion as the industry plunged to $828.94 billion from $875.52 billion as of press time — down 4.23%.
Bitcoin and Ethereum’s market cap fell by 7.25% and 1.95% to $317.46 billion and $143.79 billion, respectively.
The top 10 cryptocurrencies recorded losses for the second consecutive day as the crypto market is still rocking from FTX’s implosion. Solana printed the highest loss with 25%, while Polygon was the only outlier with a 0.2% gain. BTC and ETH fell 7.25% and 1.95%, respectively.
The market caps of Tether (USDT) and BinanceUSD (BUSD) decreased to $69.3 billion and $22.98 billion, respectively. USD Coin (USDC) market cap increased to $42.9 billion.
Bitcoin
Over the last 24 hours, Bitcoin posted losses of 7.25% to trade at $16,439 as of 07:00 ET. Its market dominance decreased to 38.1% from 39.1%.
BTC continued its recent poor market performance, falling below $17,000—the first time it has dropped that low since November 2020. The asset bottomed at $15,682 and peaked at $17,942.
Ethereum
ETH decreased 1.95% to $1,184 as of 07:00 ET. Its market dominance rose to 17.5% from 17%.
ETH struggled to stay above the $1,100 level as the second-largest digital asset was also affected by the FTX implosion. The asset bottomed at $1,083 over the reporting period.
Top 5 Gainers
Counos X
CCXX is the day’s biggest gainer for the second consecutive day, rising by 334% to trade at $146.67 as of press time. Its market cap also surged to $2.62 billion.
Phala Network
PHA grew 36.37% over the reporting period, trading at $0.176 as of press time. Over the past month, the privacy protocol has seen an impressive 119% gain. Its market cap stood at $101.86 million.
dYdX
The native token of the decentralized exchange DYDX saw gains of 20.01% over the last 24 hours, trading at $1.50 as of press time. Its market cap stood at $98.84 million.
Mask Network
MASK rose 18.23% and is currently trading for $2.94 as of press time. Its market cap stood at $84.99 million.
Terra Classic
The native token of the failed Terra ecosystem is also one of the day’s biggest gainers. It is up 12.68% over the reporting period to
Top 5 Losers
FTX Token
FTT continues its rut, shedding 40.08% of its value over the last 24 hours to $2.63 as of press time. The exchange was rocked by news of Binance pulling out of its acquisition deal. Its market cap stood at $350.69 million.
Flux
FLUX is the day’s second biggest loser, falling by 22.54% over the reporting period to $0.42. its market cap stood at $117.88 million.
Kava
KAVA plummeted 18% over the last 24 hours to trade at $0.88 as of press time. The token has lost over 38% of its value over the last seven days. Its market cap stood at $280.24 million as of press time.
Creditcoin
CTC recorded a 17% loss over the last 24 hours to trade at $0.37 as of press time. The affiliate & content marketing protocol has fallen by 30% on the seven days metrics. Its market cap stood at $77.44 million.
Braintrust
BTRST plunged 16.29% over the reporting period to $1.12. It was unclear why the token had experienced extreme volatility over the last 30 days, losing 45.96% of its value. Its market cap stood at $140.3 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
$3,140.13
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
FTX Token
$1.50114
FTX is a cryptocurrency derivatives exchange that offers futures, leveraged tokens and OTC trading.
Counos X
$15.5669
Counos X is a coin which has been developed according to Litecoin version 17.1.
Braintrust
$0.83629
Braintrust is the first decentralized talent network that connects skilled, vetted knowledge workers with the world’s leading companies.
Kava
$0.71216
Kava is a lightning-fast Layer-1 blockchain featuring a developer-optimized co-chain architecture that combines the two most used permissionless ecosystems – Ethereum and Cosmos – into a single, scalable, network.
FLUX
FLUX is a unique global gaming platform that unites all parts of the gaming industry ecosystem where players, developers, traders, and the gaming community can transform their time and needs into money using special gaming FLUX COIN..
dYdX (Native)
$2.16603
DYDX is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol.
Mask Network
$3.45128
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..
FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.