Solana leads US CPI induced market recovery

In the last 24 hours, the cryptocurrency market capitalization recorded an inflow of nearly $50 billion, with the industry growing from $828.94 billion at the time of writing to $872.68 billion, an increase of 5.26%.

Bitcoin and Ethereum market caps increased by 5.26% and 7.19% to $332.72 billion and $155.89 billion respectively.

The cryptocurrency market has experienced a positive rally as the top 10 cryptocurrencies all posted significant gains. Solana printed the best green candles and he rose 28% during the reporting period. BTC and ETH registered gains of 5.57% and 7.99% respectively.

CryptoSlate wMarket Update

The market caps of USD Coin (USDC) and BinanceUSD (BUSD) increased slightly to $43.7 billion and $23.03 billion respectively. Tether (USDT) market capitalization dropped to $68.14 billion.


Over the past 24 hours, Bitcoin registered a 5.57% gain, trading at $17,379 as of ET 07:00. Its market dominance remained flat at 38.1% during the reporting period.

Bitcoin’s price briefly traded above the $18,000 barrier after several consecutive days of weakness after US officials released October’s Consumer Price Index (CPI) data. This asset bottomed out at $16,367 for him during the reporting period.

CryptoSlate wMarket Update
BTC 24 Hour Price Performance (Source: Tradingview)


ETH is up 7.99% over the last 24 hours, trading at $1,281 at 07:00 ET. Its market dominance rose from 17.5% to 17.9%.

The second largest digital asset surpassed $1,200 with a giant green candle around 09:00 UTC on November 10th. The asset traded sideways for the rest of the day.

CryptoSlate wMarket Update
24 Hour Price Performance of ETH (Source: Tradingview)

top 5 price increases

Configuration DAO

PEOPLE was the biggest gainer of the day, up 69.19% to $0.03 at the time of writing. The DAO Movement token is one of the few outliers in the current market conditions, rising 30% over the past seven days, with its market cap at $166.85 million.

FTX token

FTT posted its first gain of the week, rising more than 35% to $3.47 in the last 24 hours. The beleaguered network has enabled withdrawals for Turkish and Japanese users.Its market capitalization was $461.64 million.


Similar to FTT, SOL has shown positive price performance over the past 24 hours, rising 30% to $17.64 during the reporting period. A pause in token unlocking at a later date accelerated the move. Its market capitalization was $6.44 billion.


Decentralized exchange DYDX’s native token continues its upward trajectory, rising 30.57% over the past 24 hours and trading at $1.96 at the time of writing. Its market capitalization was $128.59 million.

band protocol

BAND is up 28.49% over the last 24 hours, trading in $2.39 in press time. It was unclear why Cosmos-based data oracles were on the rise. His market capitalization was $84.13 million.

top 5 losers

VIDT data link

VIDT was the biggest loser of the day, losing 5.71% of its value in the last 24 hours and trading at $.0.26 at the time of writing. Over the past seven days, crypto tokens have lost about 50% of their value.Its market capitalization was $202.99 million.


SCRT has lost 0.8% of its value in the last 24 hours, trading at $0.72 at the time of writing.Its market capitalization was $118.11 million.

Huobi Token

Crypto exchange HT’s native token plunged 0.39% during the reporting period, trading at $.$5.99 at time of writing. It was unclear why the token fell. Its market cap was he $919.45 million.

binance usd

BUSD is down 0.31% over the last 24 hours. However, the Binance-backed stablecoin maintained its peg throughout the reporting period. Its market capitalization was $23.03 billion.

paxos standard

Another stablecoin among the top losers of the day is USDP. Stablecoins pegged to the dollar have maintained their pegs despite volatility.Its market capitalization was $944.64 million.

Posted In: Bitcoin, Wrapped

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