CryptoSlate Daily wMarket Update – Oct. 25: Ethereum leads gains as Bitcoin crosses $20k CryptoSlate Daily wMarket Update – Oct. 25: Ethereum leads gains as Bitcoin crosses $20k
The wMarket Update condenses the most important price movements in the crypto markets over the last 24 hours, published 07:00 ET on weekdays.
3 min read
Updated: Oct. 26, 2022 at 12:00 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The cryptocurrency market cap saw net inflows of $65.75 billion over the past 24 hours, pushing the total to $995.22 billion from $929.47 billion as of press time. The market cap increased by 7.10% over the last 24 hours.
Bitcoin’s market cap rose 6.98% over the reporting period to $395.99 billion, while Ethereum’s market cap increased by 14.2% to $187.92 billion.
The top 10 cryptocurrencies all recorded gains over the reporting period, with Bitcoin rising above the $20,000 mark for the first time since the start of October. Ethereum posted the highest gain, rising 14.01% to $1531.
The market cap of Tether (USDT) slightly increased to $68.52 billion from $68.47 billion. BinanceUSD (BUSD) also rose to $21.63 billion from $21.62 billion. Meanwhile, USD Coin’s (USDC) market cap remained flat at $43.80 billion.
Bitcoin
Over the last 24 hours, Bitcoin price rose by 6.92% to trade at $20,604 as of 06:30 ET. Its market dominance stood at 39.82% over the reporting period.
The flagship digital asset peaked at $20,682 during the last 24 hours. The flagship digital asset crossed the $20,000 mark around 13:00 UTC, liquidating over $350 million in short positions.
Ethereum
Ethereum’s price recorded the highest gain among the top 10 cryptocurrencies. It rose 14.01% to trade at $1,531as of 06:30 ET. Its market dominance stood at 18.9% over the last 24 hours.
The second-largest cryptocurrency mirrored BTC’s price performance over the reporting period. ETH crossed the $1500 mark around 13:30 UTC.
Top 5 Gainers
Lukso
LYXe is the day’s biggest gainer, rising 29.54% over the reporting period to trade at $9.53 as of press time. The crypto token has been on a tear in the past seven days as its value has increased by 64.93%. Its market cap stood at $145.88 million.
SSV.Network
SSV grew 22.42% over the past 24 hours to $11.33. The project has seen its demand rise after experiencing high volatility earlier in the month. Its market cap stood at $113.32 million as of press time.
Optimism
OP, the native token of the layer2 network, is also among the day’s top gainers. It rose by 20.23% to trade at $1 as of press time. Its market cap stood at $235.72 million.
Toncoin
TON continues its impressive performance this week, gaining 17.84% over the last 24 hours. It has risen by over 45% this week. Its market cap stood at $2.2 billion.
Rocket Pool
RPL recorded 15.83% gains over the past 24 hours to trade at around $24.93 at press time. The staking protocol’s token saw its price rise following staked Ethereum crossing 14 million in the third quarter. Its market cap stood at $256.37 million.
Top 5 Losers
APENFT
NFT is the day’s biggest loser, shedding 2.46% of its value to trade at $0.000000638484 as of press time. The NFT-related token had grown by over 22% in the last 30 days. Its market cap stood at $176.55 million.
Mdex
MDX plunged 2.37% over the last 24 hours to $0.17. The decentralized exchange token has been one of the best-performing digital assets over the past 30 days, rising 171%. Its market cap stood at $157.96 million.
Sologenic
SOLO is down 1.54% over the reporting period, trading at $0.36 as of press time. The liquidity provision protocol has increased by 161% over the last 30 days. Its market cap stood at $146.18 million.
Quant
After an impressive run that pushed its value over $200, QNT is trading for $176 after losing 1.17% of its value in the last 24 hours. Its market cap stood at $2.12 billion.
Ribbon Finance
RBN lost 1.1% to trade at $0.366 as of press time. The token has risen by 28.3% over the last 30 days. Its market cap stood at $207.06 million.
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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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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,326.30
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).