CryptoSlate Daily wMarket Update – Sept. 15
The wMarket Update condenses the most important price movements in the crypto markets over the last 24 hours, published 08:00 UTC on weekdays.
The total cryptocurrency market cap saw net outflows totaling $21.76 billion from the previous day. As of press time, it stood at $962.51 billion, down 2% over the last 24 hours.
Bitcoin’s market cap fell 1% over the reporting period to $378.69 billion from $385.41 billion. Meanwhile, Ethereum’s market cap fell by 9%, dropping from $197.29 billion to $180.31 billion over the same period.
Over the last 24 hours, all the top 10 cryptocurrencies except for Cardano saw sell-offs, with Ethereum posting the most significant losses, falling 8%.
The 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 $67.92 billion, $50.37 billion, and $20.53 billion, respectively.
Since the last wMarket update, the Bitcoin price has fallen by 1.47% to stand at $19,800 as of press time. Market dominance rose slightly from 38.9% to 39.3% over the past day.
Following a significant sell-off due to the higher-than-expected U.S. CPI inflation data released on Sept. 13, Bitcoin continues to trade within a tight range, with today’s channel fluctuating between $19,600 and $19,900.
The price of Ethereum fell 7.6% to trade at $1,492 as of press time. Market dominance dropped from 19.8% to 18.7%.
There were no immediate changes in the ETH price following the Merge, which took place on September 15. However, a sell-off occurred during the late afternoon (UTC), leading to a bottoming at $1,460. A recovery saw bulls tap out at $1,520, triggering a slow bleed lower.
Top 5 gainers
VGX leads the top gainers over the reporting period, trading around $0.79517 as of press time — up 17% over the past 24 hours. Takeover rumors continue to circulate for the bankrupt lender Its market cap stood at $221.44 million.
CHZ continues climbing higher, recording 8% gains over the past 24 hours to trade at around $0.20054 at press time. There have been no new significant developments with the project, it’s likely demand is rising as the new football season takes hold and excitement builds for the World Cup, due to start November 18. The token’s market cap stood at $1.2 billion.
FRTS grew 7% over the past 24 hours and was trading at around $0.01344 at the time of publishing. Its market cap stood at $238.08 million.
VOXEL grew 5% over the last 24 hours to trade at $0.14115 at the time of publishing. Its market cap stood at $29.64 million.
LUNC is up 2.3% since the last wMarket update to trade at $0.00029 at press time. The token has lost 45% in value over the last 30 days due to renewed interest by Korean authorities to bring Do Kwon to task. Its market cap stood at $1.78 billion at the time of writing.
Top 5 losers
CEL is today’s biggest loser falling 23% over the past 24 hours to trade at around $1.76659 as of press time. The CeFi platform recently announced plans to relaunch and specialize in crypto custody solutions. There have been no updates on when customers will have their funds returned. Its market cap stood at $421.97 million.
RVN plunged 20% over the past 24 hours and hovered around $0.05294 at press time. Its market cap stood at $554.42 million. Over the last 30 days, the token price grew 55% off the back of the ETH PoW mining exodus, it’s unclear what is behind the drop.
CFX declined 16% in value over the reporting period to trade at 0.05018. The token continues to drop, the last 30 days saw a 17% in value. Its market cap stood at $104.91 million.
RNDR fell 15% over the past 24 hours to around $0.43575 as of press time. The token’s market cap stood at $110.59 million. This project utilizes a network of GPUs via its cloud technology.