CryptoSlate Daily wMarket Update – Sept. 13 CryptoSlate Daily wMarket Update – Sept. 13
The wMarket Update condenses the most important price movements in the crypto markets over the last 24 hours, published 08:00 UTC on weekdays.
3 min read
Updated: Sep. 15, 2022 at 11:04 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The total cryptocurrency market cap saw net outflows totaling $69.42 billion from the previous day. As of press time, it stood at $997.58 billion, down 6.5% over the last 24 hours.
Bitcoin’s market cap fell 9% over the reporting period to $390.05 billion from $428.73 billion. Meanwhile, Ethereum’s market cap fell by 6%, dropping from $210.18 billion to $197.90 billion over the same period.
Over the last 24 hours, all top 10 cryptocurrencies were in the red, with Solana posting the most considerable losses after falling 13%.
Source: CryptoSlate.comThe market cap of the top three stablecoins — Tether (USDT), USD Coin (USDC), and BinanceUSD (BUSD) — remained relatively flat over the past 24 hours, standing at $67.88 billion, $51.34 billion, and $20.21 billion, respectively.
Bitcoin
Since the last wMarket update, the Bitcoin price has fallen by 9% to stand at $20,300 as of press time. Market dominance fell from 40.2% to 39.0% over the past day.
The losses of the last 24 hours erased a significant proportion of the gains made since Sept. 7, when BTC set off on a run of six consecutive daily green candle closes. The sell-off was spurred by news that CPI inflation was up 0.1% for August.
Fears are the Fed will impose a “jumbo hike” later this month, putting further pressure on risk-on assets and consumer confidence.
Ethereum
The price of Ethereum fell 6% to trade at $1,614 as of press time. Market dominance grew slightly from 19.7% to 19.8%.
The latest estimates put the Merge occurring around 06:00 UTC on Sept. 15. Research showed derivatives traders expect price volatility post-Merge, with a significant proportion placing puts (the right to sell) at $1,100.
Top 5 gainers
Nervos Network
CKB lead the top gainers over the reporting period, trading around $0.00479 as of press time — up 23% over the past 24 hours. The token continues a respectable run, up 37% over the last seven days. The market cap currently stands at $159.82 million.
Ravencoin
RVN continues climbing higher, recording gains of 10% over the past 24 hours to trade at around $0.06804 at press time. Over the past 30 days, RVN has increased 91% in value, likely driven by the exodus of ETH PoW miners. The token’s market cap stood at $712.57 million.
Voxels
VOXEL grew 5% over the past 24 hours and was trading at around $0.2905 at the time of publishing. Its market cap stood at $29.64 million.
MXC
MXC is up 4% since the last wMarket update to trade at $0.07203 at press time and up 117% from a year ago. Its market cap stood at $190.31 million at the time of writing.
Kyber Network
KNC bagged gains of 4% over the past 24 hours to trade at $1.91224 at the time of publishing. The DeFi liquidity protocol suffered a frontend hack at the start of September, leading to a loss of $265,000. However, the event has not spooked investors, who have driven KNC up 20% over the last 30 days. Its market cap stood at $340.01 million.
Top 5 losers
Pundi X
PUNDIX plunged 20% over the past 24 hours and hovered around $0.71577 at press time. Its market cap stood at $185.02 million. The token was a top gainer on Sept. 12, with +70% gains over the reporting period. However, profit-taking has since tanked the price.
Loom Network
LOOM continues sliding, down 17% over the past 24 hours to trade around $0.07564. The token had lost 23% over the previous reporting period. However, LOOM is still up 49% over the past 30 days. Its market cap currently stands at $98.34 million.
Injective Protocol
INJ declined 17% over the past 24 hours to trade at $1.68061. The token is down 85% from a year ago and down 93% from its all-time high price of $24.33, achieved in May 2021. Its market cap stood at $122.69 million.
Prom
PROM fell 16% over the past 24 hours to around $6.07121 and trading down 67% from a year ago. The project describes itself as a gaming NFT marketplace.
Solana
SOL fell 12.6% over the past 24 hours to around $33.4703 as of press time. The token’s market cap stood at $11.83 billion. There have been no new developments to explain the sell-off. However, in recent times, SOL has demonstrated itself “higher beta,” which has played out in greater susceptibility to market swings in either direction.
Mentioned in this article
Bitcoin 
Nervos Network 
Ravencoin 
Voxels 
Moonchain 
Kyber Network ![Pundi X [new]](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2017/10/pundix-logo.jpg&w=16&h=16&q=75){kind=logo}
Pundi X [new] 
Loom Network 
Injective 
Prom 
Solana Posted In: Wrapped
Author 
Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
Latest Alpha Market Report
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.
Nervos Network
$0.01967
The Nervos Network describes itself as an open-source public blockchain ecosystem and collection of protocols.
Ravencoin
$0.03053
Ravencoin is a digital peer to peer network that aims to implement a use case specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another.
Voxels
Voxels is a platform that allows players can buy land, build on it, customize their avatar with wearable NFTs and more!.
Moonchain
$0.01209
MXC is a Utility Token, also commonly referred to as an Internet of Things (IoT) Token.
Kyber Network
$0.58426
Kyber Network is a hub of liquidity protocols that aggregates liquidity from various sources to provide secure and instant transactions on any decentralized application (DApp).
![Pundi X [new]](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2017/10/pundix-logo.jpg&w=40&h=40&q=75){kind=logo}
Pundi X [new]
$0.75616
Pundi X is a leading developer of blockchain-powered devices with the aim of transforming retail businesses with its blockchain-based point of sale solution.
Loom Network
$0.07952
Loom Network is a platform as a service built on top of Ethereum that allows developers to run large-scale decentralized applications.
Injective
$28.1642
Injective is an open interoperable smart contracts platform optimized for decentralized finance applications.
Solana
$142.369
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
