CryptoSlate Daily wMarket Update – Sept. 14

The total cryptocurrency market cap saw net outflows totaling $7.52 billion from the previous day. As of press time, it stood at $985.35 billion, down 1% over the last 24 hours.

Bitcoin’s market cap fell 1% over the reporting period to $385.41 billion from $390.05 billion. Meanwhile, Ethereum’s market cap fell slightly by 0.3%, dropping from $197.90 billion to $197.29 billion over the same period.

Over the last 24 hours, all the top 10 cryptocurrencies saw minor sell-offs, with Shiba Inu posting the most significant losses, falling 3%.

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 $67.90 billion, $50.77 billion, and $20.52 billion, respectively.

Bitcoin

Since the last wMarket update, the Bitcoin price has fallen by 0.95% to stand at $20,100 as of press time. Market dominance fell from 39.0% to 38.9% over the past day.

Following significant losses due to the higher-than-expected U.S. CPI inflation data released on Sept. 13, Bitcoin has settled into a flat rhythm. As of press time, the price of BTC is flitting above and below $20,000.

This price level has provided both support and resistance on multiple occasions in the recent past, and being the 2017 bull cycle peak, it remains a critical psychological price level.

Ethereum

The price of Ethereum fell 1.4% to trade at $1,593 as of press time. Market dominance remained unchanged at 19.8%.

The Merge occurred at around 08:00 UTC on Sept. 15, and ETH posted no immediate changes in its price. However, derivatives traders expect price volatility ahead, with a significant proportion placing puts (the right to sell) at $1,100.

Top 5 gainers

Celsius

CEL leads the top gainers over the reporting period, trading around $2.57646 as of press time — up 76% over the past 24 hours. Celsius announced plans to rebuild the company by focusing on crypto custodial services. However, users have yet to have locked funds returned. The market cap currently stands at $615.42 million.

Ergo

ERG continues climbing higher, recording 17% gains over the past 24 hours to trade at around $4.90890 at press time. Over the past 30 days, ERG has increased 45% in value; the exodus of ETH PoW miners is likely a factor. The token’s market cap stood at $287.85 million.

Conflux Network

CFX grew 17% over the past 24 hours and was trading at around $0.05763 at the time of publishing. Its market cap stood at $120.48 million.

Centrifuge

CFG is up 12% since the last wMarket update to trade at $0.37037 at press time. Its market cap stood at $117.64 million at the time of writing.

Compound

COMP trails the top 5 gainers of the last 24 hours with 6% gains to trade at $55.9967 at the time of publishing. There have been no recent significant fundamental developments. Its market cap stood at $406.94 million.

Top 5 losers

Nervos Network

CKB fell 15% over the past 24 hours to trade at around $0.00410 as of press time. The price movement has erased all the gains made over the past week. Its market cap stood at $136.65 million.

Pundi X

PUNDIX plunged 14% over the past 24 hours and hovered around $0.59218 at press time. Its market cap stood at $153.07 million. The token was a top gainer on Sept. 12, peaking at $1.06; since then, bears have asserted control to drop the PUNDIX price.

Voyager Token

VGX continues sliding, down 16% over the past 24 hours to trade around $0.68800. Over the last seven days, the token has lost 38% of its value. Rumors are the bankrupt CeFi platform is subject to a buyout. Its market cap currently stands at $191.6 million.

eCash

XEC fell 12% over the past 24 hours to around $0.00004 as of press time. The token’s market cap stood at $859.16.

Terra Classic

LUNC fell 7% over the last 24 hours to trade at $0.00028, but gains over the previous 30 days amount to 186%. The token’s market cap stood at $1.71 billion. While Terra Classic is a community-led project, it has emerged recently that Terraform Labs owns a significant proportion of LUNC.

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