CryptoSlate Daily wMarket Update – Oct. 14-16: Markets trade flat but Quant posts impressive 23% gain CryptoSlate Daily wMarket Update – Oct. 14-16: Markets trade flat but Quant posts impressive 23% gain
The wMarket Update condenses the most important price movements in the crypto markets, published 08:00 UTC on weekdays.
3 min read
Updated: Oct. 17, 2022 at 2:29 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The total cryptocurrency market cap saw net outflows of $17.72 billion since the last wMarket report. As of press time, the total crypto market cap stood at $923.91 billion, down 1.9% since Oct. 13.
Bitcoin’s market cap fell 2.8% over the reporting period to $369.27 billion from $380 billion. Similarly, Ethereum’s market cap fell 1.7% to $160.08 billion from $162.85 billion.
The top 10 cryptocurrencies posted marginal gains over the last 24 hours. The exception is XRP, which saw 3.2% losses. Meanwhile, Ethereum leads the large caps, growing almost 2% over the reporting period.
The market caps of Tether (USDT) and BinanceUSD (BUSD) traded relatively flat over the last 24 hours at $68.4 billion and $21.6 billion, respectively. Meanwhile, USD Coin’s (USDC) market cap sees a marginal outflow, losing $0.36 billion to $45 billion.
Bitcoin
Since Oct. 14, Bitcoin fell 2.6% to trade at $19,278 as of press time. Its market dominance fell slightly to 40% over the reporting period.
A sharp sell-off triggered by hotter-than-expected CPI inflation data on Oct. 13 led to a strong recovery that topped out at $19.960 on Friday at 02:30 (UTC).
The ensuing drawdown found support at around $19,000, with the weekend price action grinding along this zone until Sunday evening (UTC), when a 1% upside swing occurred. This was soon sent tumbling to previous support as bears took control.
Ethereum
Over the reporting period, Ethereum’s price fell 1.2% to trade at $1,309 as of press time. Its market dominance remained at 17.3%.
Ethereum strongly mirrored Bitcoin, including the CPI inflation recovery on Friday morning (UTC). ETH price action topped out at $1,344 on Friday afternoon.
The subsequent drawdown bottomed at $1,263 on Oct. 16 at 00:00 (UTC). Like BTC, ETH saw a sharp uptick of 1.6%. However, bears knocked the gain down, with price action forming a V-shaped pattern on the 15-minute chart.
Top 5 Gainers
Quant
QNT is today’s top gainer, rising 23% over the reporting period to trade at $225.787 as of press time. The asset continues its positive run of form, growing 105% over the last 30 days. Its market cap stood at $2.73 billion.
Energy Web Token
EWT grew 17% over the last 24 hours to trade at $4.44378. The past week has seen bullish price action, growing 19% over this period. Its market cap stood at $133.59 million.
Casper
CSPR gained 16% over the last 24 hours to trade at $0.04854 as of press time. The enterprise-focused blockchain is up over 36% in the last week. Its market cap stood at $506.12 million.
Reef
REEF rose 11% over the past day to trade at $0.00681 at the time of publishing. The token has been on the rise, increasing 28% over the past month. Its market cap stood at $138.27 million.
Function X
FX gained 10% over the reporting period, trading at $0.24922 as of press time. Its market cap stood at $101.81 million.
Top 5 Losers
Request Network
REQ is today’s biggest loser, shedding 27% in the last 24 hours to trade at $0.11411 as of press time. Its market cap stood at $114.09 million.
Sologenic
SOLO lost 11% over the past 24 hours to trade at $0.34029 at the time of publishing. The liquidity protocol has experienced choppy price action over the past week. Its market cap amounted to $136.1 million.
Acala Token
ACA lost 9% over the reporting period to trade at $0.17839 as of press time. The Polkadot-based DeFi network is down 30% over the past month. Its market cap stood at $94.42 million.
TerraUSD
USTC posted 5% losses over the past 24 hours to trade at $0.04076 as of press time. Despite re-peg attempts, the token continues to trade significantly below its peg price. Its market cap stood at $399.82 million.
Decentralized Social
DESO recorded a 4% loss over the last 24 hours to trade at $15.8716 as of press time. The social network is up over 130% over the past month, but the past week has seen a downtrend. Its market cap stood at $141.01 million.
Mentioned in this article
Bitcoin 
Ethereum 
Quant 
Energy Web Token 
Casper 
Reef 
Function X 
Request Network 
Sologenic 
Acala Token 
TerraClassicUSD 
Decentralized Social Author 
Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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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
$3,481.00
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Quant
$118.148
Quant’s mission is to unlock the power of blockchain for everyone, by delivering interoperable ecosystems and real-world solutions that simply work: lowering costs, enabling new business and mitigating risk..
Energy Web Token
$1.50690
Energy Web Token (EWT) is the native token of the Energy Web Chain, a public, Proof-of-Authority Ethereum Virtual Machine blockchain specifically designed to support enterprise-grade applications in the energy sector.
Casper
$0.01675
The Casper Network is the first live proof-of-stake blockchain built off the Casper CBC specification.
Reef
$0.00110
Reef is a smart liquidity aggregator and yield engine that enables trading with access to liquidity from both CEXs and DEXs while offering smart lending, borrowing, staking, mining through AI driven personalized Reef Yield Engine.
Function X
$0.14416
Function X is an ecosystem built entirely on and for the blockchain by Pundi X Labs.
Sologenic
$0.43952
Sologenic deploys SOLO coins for market-making and liquidity providing.
Acala Token
$0.09269
Acala is an all-in-one decentralized finance network offering a blockchain platform.
TerraClassicUSD
$0.02113
TerraUSD (UST) is a decentralized and algorithmic stablecoin on the Terra blockchain.
Decentralized Social
$9.90996
DeSo is a new type of blockchain designed to power Web 3.0 decentralized social networks.
