Crypto Market Daily Highlights – XRP and MATIC Led a Choppy Top Ten


Key ideas:

  • It was a bullish start to the week for the top ten crypto. XRP recovered from an early slide to lead the top ten along with MATIC.
  • There was no effect on the NASDAQ index, with US markets closed, leaving the World Economic Forum talk for support.
  • The crypto market capitalization rose by $6.50 billion to end the day at $765.67 billion.

The session on Monday was bullish for the crypto top ten. XRP Y MATIC led the way. BTC it was in the green for the second session, but continued to fall short of the $17,000 handle.

With the US markets closed for the holidays, there was no influence from the NASDAQ index, leaving investors considering the outlook for the year. Hopes of a Ripple victory against the SEC provided support, while chat from the World Economic Forum (WEF) was also cryptographic.

In particular, the WEF said:

“Cryptography and blockchain will continue to be integral parts of the modern economic toolkit.”

The WEF also compared cryptocurrencies to the dotcom bubble, saying:

“Just as the dot-com bubble burst in the early 2000s to deliver the future of the Internet to more enduring enterprises, business models, and use cases, perhaps 2022 will mark the delivery of cryptographic technology and blockchain infrastructure into more durable hands. firm. ”

Today, the all-important Caixin Manufacturing PMI for China will weigh in. Weaker-than-expected numbers could test buyers’ appetites. However, with the removal of COVID-19 restrictions, despite the latest spike in COVID-19 cases, investors may be more forgiving than usual and a rally is expected in the coming months.

The finalized US Manufacturing PMI for December will also provide guidance. However, any talk by FOMC members would probably carry more influence.

Barring a crypto event, investors are likely to follow the lead of the NASDAQ index in the afternoon session. The NASDAQ mini was up 27.5 points this morning.

Total Market Cap – NASDAQ – 030123 Daily Chart

Crypto Market sees a choppy but bullish start to the week

It was a bullish Monday session. A bearish start to the day saw the crypto market capitalization slide to an early morning low of $752.34 billion before finding support. Bullish during the afternoon session, the crypto market capitalization rallied to a late high of $772.72 billion before pulling back.

Despite the late pullback, the crypto market capitalization rose $6.50 billion (0.86%) to $765.67 billion for the day.

Total Market Capitalization 020123 Daily Chart

The top ten crypto market movers and shakers and beyond

It was a bullish Monday session for the top ten crypto.

XRP Y MATIC led the way, with gains of 2.76% and 2.60%, respectively.

ADA (+1.60%), DOGE (+1.71%), and ETH (+1.15%) also found strong support, while bnb (+0.41%) and BTC (+0.28%) behind the favourites.

From the CoinMarketCap top 100, it was a mixed session.

BitDAO (BIT) and sunny (SUN) led the way, rallying 12.03% and 13.03%, respectively, with lido DAO (I DO) increasing by 11.96%.

However, ton (TON) fell 4.16%, with the XDC network (xdc) and UNUS SED LEO (LION) with losses of 1.07% and 0.60%, respectively.

24-hour liquidations increase as investors return from vacation

Over 24 hours, crypto selloffs rallied as investors returned from vacation to a choppy session. At the time of writing, 24-hour settlements stood at $73.34 million, up from $10.88 million on Monday morning.

Traders liquidated in the last 24 hours also increased. At the time of writing, traders liquidated stood at 18,988 compared to 5,811 on Monday morning. Crypto settlements were highest for 12 and four hours and over one hour.

Total Crypto Settlements 030123

According to coin purse, 12-hour sales totaled $10.40 million, up from $7.56 million on Monday morning, with four-hour sales of $3.13 million to $6.28 million. One-hour settlements increased from $0.568 million to $1.67 million.

The following chart shows the market conditions throughout the session.

Total Market Capitalization 030123 Hourly Chart