CryptoSlate Daily wMarket Update – Oct. 14-16: Markets trade flat but Quant posts impressive 23% gain

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 TerraUSD Decentralized Social

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.

@WanSamuel Email Samuel

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