Cryptocurrency

CryptoSlate Daily wMarket Update – Sept. 8

Zegex

Cryptocurrency market capitalization continued its recovery from the previous day, reaching $1.3 trillion at 06:00 UTC on September 9, an increase of 2.17% over the past 24 hours.

Bitcoin’s market cap also rose further, rising 5% to $388.1 billion over the past 24 hours from $369.61 billion the day before. Ethereum’s market cap grew more slowly and during the day he rose 3.49% to $206.86 billion.

All of the top 10 cryptocurrencies rose, according to CryptoSlate data, with Polkadot (DOT) recording the biggest move at 6.84%. It was ranked 11th and 13th in 24 hours.

The market caps of the top three stablecoins, Tether (USDT), USD Coin (USDC), and Binance USD (BUSD), have remained stable over the past 24 hours at $67.55 billion, $51.67 billion, and $19.91 billion, respectively.

Bitcoin

Bitcoin (BTC) outperformed its recovery from the previous day, growing 7.25% over the past 24 hours, trading around $20,525 at 06:00 UTC. BTC market dominance recovered slightly from 37.8% the day before to 38.5% at press time. However, despite increasing market dominance, it remains at its lowest level in more than four years.

Regardless of the second day of price recovery, market sentiment remains largely bullish as the Bitcoin fear and greed index points to extreme fear.

BTC/USD Source: (Trading View)
BTC/USD Source: (Trading View)

Over the past 24 hours, BTC has experienced considerable volatility, trading between $19,050 and $19,450 until 03:00 UTC on September 9, when the price again climbed above $20,000. Between 03:00 and 05:00 UTC, the BTC price jumped from around $19,390 to $20,300.

ethereum

ETH is up 5.12% over the past 24 hours and is trading around $1,700 at the time of writing, adding to the previous day’s 7.82% gain. Hopes of a planned merge last week drove the price higher, but the network is getting back to normal after Bellatrix’s upgrade troubles pushed it further. It was 20.4%.

Total ETH wagered on ETH 2.0 contracts surged to just 14.31 million, according to data from the Ethereum Foundation, as price gains slowed compared to the previous day.

ETH/USD (Source: Trading View)
ETH/USD (Source: Trading View)

Over the past 24 hours, ETH has fluctuated between $1,598 and $1,655 throughout the day. However, around 03:00 UTC, ETH surged vertically to $1,710.

top 5 price increases

polymer network

POLY saw its biggest gain on Sept. 8, trading at $0.30, up 64.73% over the past 24 hours. However, the token is down 59.61% year-on-year. Due to the price increase, the market capitalization has increased significantly from about $163 million at the time of writing to he $280.11 million. This is his growth of over 70%.

Golem

GLM is up 25.51% and is trading at $0.29 at the time of writing. The token surged from $0.23 to around $0.41 around 14:00 UTC, but the price has fallen since then. The token’s market capitalization has also increased by more than 285% to $294.81 million from the previous day’s roughly $230 million.

Bitcoin standard hashrate token

BTCST registered a 31.88% gain and was trading at $13.04 at the time of writing. The token’s market capitalization was at $159.12 million at the time of writing, up more than 130% from the previous day’s roughly $69 million.

raven coin

RVN was trading around $0.044 at the time of writing after growing 20.53% over the past 24 hours. The token price remained stable throughout most of the day before jumping from around $0.037 to $0.044 around 05:00 UTC. The market cap of the token rose to $464.74 million from around $430 million the day before.

Energy Web Token

EWT has registered a 19.65% gain over the past 24 hours and is trading around $4.71 at the time of publication. The token market cap was $141.8 million at the time of writing.

top 5 losers

voyager token

VGX recorded its steepest price drop in the last 24 hours, down 19.94% and trading at around $0.88 at the time of writing. The token has risen over the past two days, and in the early hours of Sept. 8 he crossed the $1 mark, but has lost nearly half of the gains he made over the past week.

Voyager plans to auction the property on Sept. 13, with the outcome subject to approval at a court hearing scheduled for Sept. 29. Reports that Voyager is still fulfilling buy orders even after deposits and withdrawals have been suspended are putting pressure on VGX prices.

Terra USD

In addition to the previous day’s gains, USTC continued its gains until 12:00 UTC when it started to drop from around $0.051 to $0.042 at the time of writing. The token has fallen 11.1% in the last 24 hours and the market cap is $415.96 million. USTC, an algorithmic stablecoin in the Terra ecosystem, fell off its peg in May, causing a market crash.

Net vrk

NTVRK has fallen 5.47% over the past 24 hours and was trading around $0.22 at the time of writing. Token has suffered due to a scandal involving a former CEO who claims the project’s founders misappropriated user funds for personal luxuries.

fruit

FRTS has fallen 4.87% over the past 24 hours and is trading around $0.013 at the time of publication. The token market cap was $275.63 million at the time of writing.

UNOS SED Leo

Over the last 24 hours, LEO has fallen steadily, trading at $4.97 at the time of writing, down 4.69% in a single day. The token has a market capitalization of $4.75 billion and its price has increased by 58.84% over the past year.

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