Crypto Market Daily Highlights – ADA Leads a Bearish Session

Key Insights:

  • It is a bearish Sunday session for the crypto top ten, with Binance Coin (BNB) finding modest support to buck the top ten trend.
  • A lack of cues from the news wires left the crypto market in limbo following Fed Chair Powell’s Jackson Hole speech.
  • The total crypto market cap is down $7.6 billion to $937 billion, with an hour of the session remaining.

It is a bearish Sunday session for the crypto top ten. Bitcoin (BTC) is heading to a sub-$20,000 finish for the first time since July 12. However, ADA leads the top ten into the red, while BNB finds modest support.

There was no crypto news to support a shift in investor sentiment. Market angst from Friday’s Fed Chair Powell speech continued to test investor appetite on Sunday, with the crypto market heading for a third consecutive day in the red.

For investors hoping for a shift in mood, the NASDAQ 100 Mini is down 132 points, suggesting more doom and gloom going into the US session later today. The 132-point fall increased selling pressure across the crypto market in the final hour.

The Total Crypto Market Cap Visits sub-$930 billion in a Bearish Session

On Sunday, the total crypto market cap fell to an early afternoon low of $932.5 billion before rising to a high of $955.3 billion. However, a late pullback left the crypto market down $7.6 billion to $937.1 billion, with one hour of the session remaining (UTC).

Down by $67 billion for the week, the total crypto market cap is down $122 billion for August.

Crypto market set for a third consecutive daily loss.
Total Market Cap 290822 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It is a mixed Sunday session for the crypto top ten.

BNB is up 0.50% to buck the top ten trend.

However, it is a bearish session for the rest of the top ten.

ADA leads the way down, falling by 2.89%, with ETH (-1.85%) and XRP (-1.53%) struggling. BTC (-0.70%), DOGE (-0.61%), and SOL (-0.67%) are also in the red.

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

Synthetix (SNX) leads the way, rising by 5.8%, with Internet Computer (ICP) and Ankr (ANKR) seeing gains of 1.60% and 0.67%, respectively.

At the other end of the table, Flow (FLOW) leads the way down, sliding by 6.2%. Huobi Token (HT) and Arweave (AR) are down by 3.3% and 3.5%, respectively.

Crypto Liquidations Fall Again in a Range-bound but Bearish Session

Over 24 hours, total liquidations fell further back as investors looked to get passed Powell’s Jackson Hole speech resonating.

At the time of writing, 24-hour liquidations stood at $56.57 million, down from $113.06 million on Sunday morning.

Liquidated traders also fell over the last 24 hours. At the time of writing, liquidated traders stood at 28,463 versus 38,383 on Sunday morning. While liquidations over 12 hours and 4 hours have declined, one-hour liquidations are up, influenced by the early NASDAQ 100 Mini decline.

total liquidations rise in the final hour.
Total Crypto Liquidations 290822

According to Coinglass, 12-hour liquidations stood at $37.37 million, down from $62.45 million on Sunday morning. 4-hour liquidations are down from $14.45 million to $11.21 million, while one-hour liquidations are up from $2.71 million to $6.50 million. The chart below shows market conditions throughout the session.

Crypto market sees increased selling pressure as NASDAQ 100 Mini slides.
Total Market Cap 290822 Hourly Chart

Crypto Market Daily Highlights – BTC, ETH, and SOL Are on the Move

Key Insights:

  • It is a mixed Thursday session for the crypto top ten, with bitcoin (BTC), Ethereum (ETH), and Solana (SOL) finding support.
  • The NASDAQ 100 weighed on investor sentiment, with fears that the Fed will deliver another sizeable rate hike, weighing on riskier assets.
  • The total crypto market cap is up by $3.66 billion to $1,123 billion.

It is a mixed Thursday session for the crypto top ten. In a choppy session, bitcoin (BTC) came within reach of $25,000 before falling back. Ethereum (ETH) and Solana (SOL) lead the way, while the rest of the top ten sees red.

There were no cues from the crypto market news wires to provide support, leaving the crypto market in the hands of market risk sentiment and US economic indicators.

Following the softer US consumer inflation figures, US wholesale inflation figures drew interest on Thursday. The numbers were market-friendly, with the annual rate of wholesale inflation softening from 11.3% to 9.8% in July.

However, softer inflation failed to ease market fears of another sizeable Fed rate hike in September, leading to a late pullback. The NASDAQ 100 fell by 0.58%, with the crypto market seeing early gains wiped out.

NASDAQ correlation
Total Market Cap – NASDAQ – 120822 5 Min Chart

The Total Crypto Market Cap Hits the Highest Level Since Mid-June

On Thursday, the total crypto market cap rose to a mid-day high of $1,153 billion before sliding to a low of $1,112 billion. The US consumer and wholesale inflation figures delivered support before a reversal kicked in, with the markets expecting the Fed to keep the foot on the gas.

With an hour of the Thursday session left, the total crypto market cap was up $3.66 billion to $1,123 billion. A bullish week has seen more than $40 billion pour in.

Crypto market cap hits highest level since mid-June
Total Market Cap 120822 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It is a mixed Thursday session for the crypto top ten.

With one hour of the session remaining, ETH and SOL lead the way, with gains of 1.53% and 1.11%, respectively. BTC also found support, rising by 0.39%.

However, it is a bearish session for the rest of the top ten.

DOT leads the way down, sliding by 3.67%, with BNB down by 1.34%.

ADA (-0.74%) and XRP (-0.31%) are also in negative territory.

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

Ankr (ANKR) leads the way, surging by 50.75%, with Ethereum Classic (ETC) and Ravencoin (RVN) also on the move. ETC is up 12.6%, with RVN up by 11.43%.

However, Monero (XMR), Convex Finance (CVX), and Arweave (AR) lead the way down.

XMR is down 5.67%, with CVX and AR falling by 4.17% and 3.63%, respectively.

Total Crypto Liquidations Rise in the Wake of the US Inflation Numbers

This morning, total liquidations remain elevated as investors respond to the pullback in the US equity markets and fears of an unwavering Fed. 24-hour liquidations continued the upward trend.

At the time of writing, 24-hour liquidations stood at $343 million, up from $282 million on Thursday morning.

However, liquidated traders decreased over the last 24 hours. At the time of writing, liquidated traders stood at 58,688 versus 63,664 on Thursday morning. Market conditions improved over the 24 hours, reflected in the 12-hour, four-hour, and one-hour liquidation figures,

While 12-hour liquidations remain elevated ($165 million), one-hour and four-hour liquidations have retreated.

Crypto liquidations rise again
Total Crypto Liquidations 120822

According to Coinglass, four-hour liquidations stood at $7.83 million, down from $16.52 on Thursday morning. One-hour liquidations are down from $2.56 million to $1.54 million (see hourly crypto market cap chart below).

Crypto market cap slides back from the day high
Total Market Cap 120822 Hourly Chart

Daily News Highlights

Crypto Price Analysis August 10: FTM, NEAR, DOT, VET, AR

Key Insights:

  • The market noted recovery today after yesterday’s $28.9 billion downfall.
  • The likes of Fantom and NEAR led the market rally with a 10% rise.
  • Bitcoin and Ethereum rose to trade at $24k and $1.87k, respectively.

With losses exceeding $1.1 billion in the second quarter, Coinbase noted a decline in the trading volume and revenue over the three months from April to June.

However, the crypto market treaded in the other direction against expectations, reclaiming the $36 billion it lost in the 24 hours before today.

Fantom (FTM)

The altcoin is sticking to its 2-months long uptrend adding another 9.09% over the last 24 hours. This brought FTM closer to recovering the 46.29% losses it witnessed in June.

Relative Strength Index (RSI) staying in the bullish zone is a good sign for the altcoin as it will provide the support Fantom needs to keep above $0.4.

Near Protocol (NEAR)

NEAR noted a similar pattern rising by 10.63% in the previous 24 hours, except that this altcoin has already recovered its June losses and is currently on the way to invalidating May’s crash of 54.4%.

The divergence of the Bollinger Bands indicates an increase in volatility which might lead to a price swing in the upward direction.

Polkadot (DOT)

Polkadot is inching closer to the $10 mark, and in doing so, it is also reclaiming the losses of June and heading towards recovering the dip of May.

The presence of green bars on the Awesome Oscillator indicates that the persisting bullishness will act as solid support for the altcoin.

VeChain (VET)

The 6.6% rise in the last 24 hours is possibly going to act as an effective trigger for VeChain to note a rally strong enough to invalidate the losses of May’s 48.61% dip.

MACD maintaining its bullish crossover is highlighting the same thing as well.

Arweave (AR)

Of the cryptocurrencies of this lot. Arweave stood out for the downtrend it was displaying on the charts today as the white dots of the Parabolic SAR moved above the candlesticks.

The 6.38% rally did not change that either, which might make it difficult for the altcoin to recover the 47.75% losses of May.

Crypto Price Analysis August 2: NEXO, CRO, AR, GRT, COMP

Key Insights:

  • Cronos acted as the best performing altcoin today with an 11% rise.
  • Arweave countered this bullishness with a 9.55% drop in the same duration.
  • Bitcoin and Ethereum could be seen trading at $23k and $1.6k.

While most of the altcoins decided not to move at all, there were many still who countered the crypto market’s bullishness with their bearishness and vice versa, resulting in an unchanged market cap.

Naturally, the king coin and the altcoin king did not move either and ended up trading at $23k and $1.6k, respectively.

Nexo (NEXO)

NEXO rose by 4.66% in the last 24 hours, but prices remained consolidated just as they had been since July 21.

The Awesome Oscillator is still displaying a green bar which is a good sign for the recovery of June’s 50.8% crash.

Cronos (CRO)

The Crypto.com exchange’s native token ended performing exceptionally, rising by 11.15% in the span of 24 hours.

CRO continued its rally with the recent rise adding to the 43.65% rise noted over the month as the Bollinger Bands exhibited positive signals as well.

Arweave (AR)

The altcoin was among the ones to fall today, dropping by almost 10% from yesterday’s opening price.

The uptrend visible by the Parabolic SAR has also been helpful to AR in recovering from the 42.8% crash of June.

The Graph Token (GRT)

Slightly different than AR, GRT also noted a 9% decline although over the last 48 hours. This will be a hindrance for the altcoin when it comes to recovering the almost 41% crash from June.

Although MACD continues to signal an active bullish crossover which might counter the present bearishness of the asset.

Compound (COMP)

Compound remained unchanged today. Regardless of the broader market trend, COMP has not broken its consolidation for the third week now.

Keeping its 100.66% rally intact, the altcoin has already recovered the 51.86% losses of June, which is why investors have not been pulling their money out of COMP, as visible by the Chaikin Money Flow’s straight line.

Crypto Market Daily Highlights – ETH Leads the Top Ten into the Red

Key Insights:

  • It is a bearish start to August for the crypto top ten, with Ethereum (ETH) leading the way down.
  • A lack of cues from the crypto market leaves investors to stew over a string of weak US economic indicators.
  • The bearish session sees the total crypto market cap heading for a third consecutive loss, with $16.4 billion coming off the table.

It is a bearish Monday session for the crypto top ten. Bitcoin (BTC) failed to visit the $24,000 handle for the first time in four sessions. The bearish start to August sees ADA and SOL also struggle.

There were no cues for the crypto market, leaving investors to consider weak US economic indicators.

On Monday, the ISM Manufacturing PMI fell from 53.0 to 52.8, with the Markit survey-based PMI falling from 52.7 to 52.2.

Following Q2 GDP numbers from last week, investors are getting jittery ahead of this week’s nonfarm payrolls.

The NASDAQ 100 slipped by 0.18%, with the NASDAQ already baking in the prospects of a recession.

NASDAQ correlation remains firm
Total Market Cap – NASDAQ – 020822 5 Min Chart

The Total Crypto Market Cap Starts August on a Bearish Footing

On Monday, the total crypto market cap rose to an early high of $1,070 billion before sliding to a low of $1,037 billion.

Finding late support, the market cap currently stands at $1,043 billion, down $16.4 billion for the session.

Total crypto market cap falls on recession jitters
Total Market Cap 020822 Daily Chart

There were no cues from the crypto market to weigh on investor sentiment. Following a bearish Sunday, a modest NASDAQ 100 fall over recession jitters sent the crypto market into the red.

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It is a bearish start to the month for the crypto top ten.

With two hours of the session to go, ETH (-3.34%) is leading the way down, with ADA (-1.55%) and SOL (-2.89%) also struggling.

BNB (-0.85%), BTC (-1.14%), DOGE (-0.32%), and XRP (-0.57%) are seeing relatively modest losses.

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

Hive (HIVE) leads the way, surging by 67%, with Chiliz (CHZ) and Gala (GALA) up by 15.71% and 7.23%, respectively.

However, at the other end of the table, Filecoin (FIL) led the way, sliding by 17%. Arweave (AR) and Ethereum Classic (ETC) are also in the deep red, falling by 12% and 11%, respectively.

Total Crypto Liquidations Highlight Bearish Start to August

Late in the Monday session, 24-hour liquidations have risen, while market conditions have improved with two hours left to go.

At the time of writing, 24-hour liquidations stood at $163 million, up from $133 million on Monday morning.

Liquidated traders increased over the last 24 hours. At the time of writing, liquidated traders stood at 72,497 versus 62,484 on Monday morning.

However, the one and four-hour liquidations reflect improving market conditions.

Crypto liquidations rise over 24-hours
Total Crypto Liquidations 020822

According to Coinglass, four-hour liquidations stand at $12.96 million, down from $35.37 million on Monday morning. One-hour liquidations are $1.28 million, down from $4.81 million (see hourly crypto market cap chart below).

Crypto market steadies
Total Market Cap 020822 Hourly Chart

Daily News Highlights

  • Binance.US announced Amp (AMP) delisting in response to SEC security tag.
  • Kadena launched the first gas-free decentralized exchange (DEX) called Kaddex.
  • Tiffany goes NFT with 250 CryptoPunk NFT necklaces.
  • Research shows that Metaverse and Gaming are weathering the crypto winter.

Crypto Market Daily Highlights – SOL, ADA, and DOGE See Deep Red

Key Insights:

  • After two mixed sessions, the crypto top ten hit reverse on Friday, with Solana (SOL) leading the way down.
  • For the NASDAQ 100, a three-day winning streak ended, with weak economic indicators reigniting fears of an economic recession.
  • The total coin market cap slid by $20 billion to end the day at $1,009 billion.

It was a bearish Friday session for the crypto top ten. Bitcoin (BTC) gave up early gains to end the day at sub-$23,000, with Solana (SOL) and Cardano (ADA) seeing heavy losses.

US economic indicators weighed on riskier assets. In July, the services PMI slid from 52.7 to 47.0, according to prelim figures, reigniting fears of an economic recession. A PMI value below 50.0 indicates a sector contraction. Services account for more than 70% of the US economy.

The crypto news wires also weighed on bitcoin and the broader market. Investors struggled to shake off the news of Tesla Inc. (TSLA) selling off 75% of its bitcoin holding, with the latest SEC move against the crypto market also negative as the SEC v Ripple case drags on.

On Friday, the broader crypto market tracked the NASDAQ 100 into negative territory in response to the weak private sector PMIs.

The NASDAQ 100 fell by 1.87% to end the week up 3.45%, while the total crypto market cap increased by 8.36% to $1,009 billion, Monday to Friday.

NASDAQ correlation
Total Market Cap – NASDAQ – 230722 5 Min Chart

The Total Crypto Market Cap Tracks the NASDAQ into the Red

After a choppy start to the session, the total crypto market cap hit a Friday high of $1,058 billion before hitting reverse.

The reversal saw the coin market cap slide to a day low of $1,001 billion before steadying.

Having tracked the NASDAQ 100 into the red, crypto investors continued to close positions after the US closing bell.

Crypto market cap
Total Market Cap 230722 Daily Chart

Notable moves across the crypto top ten were an Ethereum return to sub-$1,600 and a BTC fall to sub-$23,000.

The Crypto Market Movers and Shakers from the Top Ten and Beyond

SOL slid by 5.98% to lead the way down, with ADA (-3.40%) and DOGE (-3.68%) also struggling.

BNB (-1.20%), BTC (-2.02%), ETH (-2.53%), and XRP (-2.40%) saw relatively modest losses.

From the CoinMarketCap top 100, it wasn’t all doom and gloom.

Bitcoin Gold (BTG), surged by 23.33% to lead the top 100, with EOS (EOS), Kusama (KSM), and NEO (NEO) also finding strong support.

Leading the way down, however, was THORChain (RUNE), which slid by 10.81%, with Synthetix (SNX), Arweave (AR), and Lido DAO (LDO) also struggling.

Total Crypto Liquidations Eased Back from a Session High

On Saturday, 24-hour liquidations were on the rise, though the liquidation numbers over short-time horizons suggested improving market conditions.

This morning, 24-hour liquidations stood at $207 million, up from $198 million on Friday while down from $338 million on Thursday.

Liquidated traders also fell over the last 24 hours. At the time of writing, liquidated traders stood at 62,274 versus 65,160 on Friday morning.

While 24-hour liquidations increased, one-hour liquidations were down from Friday.

crypto liquidations
Total Crypto Liquidations 230722

According to Coinglass, one-hour liquidations stood at $3.74 million, down from $4.10 million on Friday. Four-hour liquidations stood at $51.48 million, up from $33.04 million on Friday, aligned with the late crypto sell-off (see below).

Choppy finish
Total Market Cap 230722 Hourly Chart

Daily News Highlights

  • Ethereum co-founder Vitalik Buterin gave updates on the Ethereum network at the Annual Ethereum Community Conference.
  • The Fear & Greed Index held steady on Friday, despite the investor reaction to the Tesla news.
  • From the SEC v Ripple case, the Securities and Exchange Commission filed a request to appeal against the court ruling on the Hinman speech-related documents.
  • SEC Chair Gary Gensler targeted crypto lending shops, claiming jurisdiction.

Crypto Market Daily Highlights – Tesla Inc. Sends the Market South

Key Insights:

  • It was a mixed Wednesday session for the crypto top ten, with Dogecoin (DOGE) avoiding the red to buck the market trend.
  • News Tesla Inc. (TSLA) selling 75% of its bitcoin (BTC) holding weighed.
  • The total crypto market cap fell by $17 billion to end the day at $1,018 billion.

It was a mixed Wednesday session for the crypto top ten. Bitcoin (BTC) hit $24,000 before falling into the red, while Dogecoin (DOGE) enjoyed a bullish session.

Crypto network updates failed to provide support. The downside aligned with 24-hour liquidation figures for Tuesday and Wednesday morning that pointed to a pullback.

Following the market reaction to the Ethereum (ETH) Merge and Cardano Vasil hard fork dates, Polygon (MATIC) network news failed to provide support.

On Wednesday, the Polygon team introduced zkEVM. Using zero-knowledge proof technology, Polygon delivers Ethereum scaling that will boost throughput, reduce latency, and save on fees.

According to the announcement,

“The basic approach to scaling Ethereum with ZK proofs is to build a ZK rollup, a Layer 2 protocol which “rolls up” a large batch of transactions and proves all of them to the Ethereum network with a single  ZK validity proof.”

Mid-week, the broader crypto market tracked the NASDAQ 100 into positive territory. A post-US-market close sell-off did the damage, with news of Tesla Inc. (TSLA) offloading 75% of its bitcoin holdings weighing.

On Wednesday, the NASDAQ 100 rose by 1.58%, following a Tuesday 3.11% rally.

At the time of writing, the NASDAQ 100 Mini was down 39 points.

NASDAQ correlation
Total Market Cap – NASDAQ – 210722 5 Min Chart

The Total Crypto Market Cap Sees Tesla Driven Loss

A bullish start to the Wednesday session saw the total crypto market cap rise to a day high of $1,071 billion. A post-US-market close reversal, however, saw the crypto market cap slide to a day low of $1,003 billion before steadying.

Despite the pullback, the total crypto market cap avoided a fall to sub-$1 trillion, with the market cap falling by $17 billion on the day.

Notable moves across the crypto top ten was a bitcoin return to $24,000 to bring the all-important $25,000 handle into reach.

Crypto market cap
Total Market Cap 210722 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

Dogecoin (DOGE) bucked the top-ten crypto trend, rising by 1.66%.

It was a bearish session for the rest of the majors, with SOL sliding by 6.30% to lead the way down.

ADA (-4.84%), BNB (-3.87%), and XRP (-2.65%) also struggled, while BTC (-0.76%) and ETH (-1.33%) saw relatively modest losses.

From the CoinMarketCap top 100, Lido DAO (LDO) and Monero (XMR) led the way alongside DOGE.

LDO rose by 3.45%, with XMR gaining 3.42%.

Leading the way down, however, were Quant (QNT), Arweave (AR), and Polygon (MATIC).

AR slid by 10.89%, with QNT and MATIC seeing losses of 9.87% and 9.22%, respectively.

Nexo (NEXO), Internet Computer (ICP), and Ethereum Classic (ETC) also struggled.

Total Crypto Liquidations Fall Further to Suggest a Bullish Session

On Thursday, 24-hour liquidations eased again, pointing to more favorable market conditions. While down from levels seen earlier this week, 24-hour liquidations remained elevated.

This morning, 24-hour liquidations stood at $338 million, down from $582 million on Wednesday.

Liquidated traders also eased over the last 24 hours, suggesting better market conditions. At the time of writing, liquidated traders stood at 98,758 versus 104,735 on Wednesday morning.

While 24-hour liquidation levels eased back, one-hour and four-hour liquidations were up from Tuesday.

According to Coinglass, one-hour liquidations stood at $6.90 million, up from $2.84 million on Wednesday. Four-hour liquidations stood at $101.16 million, up from $45.66 million on Wednesday.

Crypto liquidations
Total Crypto Liquidations 210722

The one-hour and four-hour liquidation levels reflected the post-US market close sell-off and the final hour partial recovery. (See hourly total crypto market cap chart below).

Hourly Chart
Total Market Cap 210722 Hourly Chart

Daily News Highlights

  • Tesla Inc. sold 75% of its bitcoin holdings in the second quarter.
  • The UK announced a new financial bill to regulate stablecoins.
  • 21Shares unveiled S&P risk-controlled Ethereum and Bitcoin ETPs.

Crypto Market Daily Highlights – ETH Bucks Trend in Bullish Session

Key Insights:

  • On Tuesday, the crypto top ten were on the move again, with Cardano (ADA) taking over as the front runner.
  • A choppy start to the session saw the crypto market hit reverse before recovering, with the NASDAQ 100 delivering a US session boost.
  • The total crypto market cap followed Monday’s $82.59 billion jump with a $46 billion increase to cement the return to $1 trillion.

It was a bullish Tuesday session for the crypto top ten. Bitcoin (BTC) hit $23,000, briefly eyeing $24,000, with Cardano (ADA) enjoying a breakout session.

Recovering from a bearish start to the Tuesday session, risk-on sentiment from the global equity markets delivered much-needed support.

The European and US equity markets were in rally mode, delivering the crypto boost.

On Tuesday, the NASDAQ 100 rallied by 3.11%, with the futures pointing to more gains in the day ahead.

At the time of writing, the NASDAQ 100 Mini was up 32 points.

Crypto - NASDAQ
Total Market Cap – NASDAQ – 200722 5 Min Chart

While the European and US equity markets provided support, investor sentiment towards the Ethereum Merge and the Cardano (ADA) Vasil hard fork remained the key drivers.

Following several delays, the Vasil hard fork and the Merge look set for July and September, shifting the mood across the crypto market.

The Total Crypto Market Cap Continued the Gradual Climb to $2 Trillion

A choppy Tuesday session saw the total crypto market cap fall to a low of $981 billion before rising to a high of $1,050 billion.

Finding initial support from the European and US equity markets, Ethereum Merge euphoria continued to drive the market northwards in the post-US market close session.

On Tuesday, the total crypto market cap followed Monday’s $82.59 billion surge with a $46 billion increase to wrap up the day at $1 trillion for a second consecutive day.

Notable moves across the crypto top ten were a bitcoin return to $23,000 and an Ethereum look at $1,700. Despite the Merge euphoria, ETH ended the day in the red.

Crypto market cap
Total Market Cap 200722 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

ADA rallied by 5.31% to lead the top ten, with BTC (+4.25%) and SOL (+3.07%) finding strong support.

While BNB (+1.70%), DOGE (+2.10%), and XRP (+2.14%) avoided the red, ETH (-2.45%) succumbed to late profit taking to end the day in the red.

From the CoinMarketCap top 100, Nexo (NEXO) led the way, surging by 21.88%. Fantom (FTM) and NEM (XEM) were close behind, with gains of 14.97% and 15.53%, respectively.

However, Arweave (AR) struggled, with a 6.12% loss. UNUS SED LEO (LEO), STEPN (GMT), TerraClassicUSD (USTC), and Polygon (MATIC) also saw red.

Total Crypto Liquidations Fall to Reflect Improved Market Conditions

On Wednesday, 24-hour liquidations eased, pointing to more favorable market conditions. Despite the fall in liquidations, 24-hour liquidations remained elevated relative to more recent levels.

This morning, 24-hour liquidations stood at $582 million, down from $691 million on Tuesday.

Liquidated traders also eased over the last 24 hours, suggesting improving market conditions. At the time of writing, liquidated traders stood at 104,735 versus 128,281 on Tuesday morning.

While 24-hour liquidation levels stood on the higher side, one-hour and four-hour liquidations saw a sharp decline relative to Tuesday morning levels.

According to Coinglass, one-hour liquidations stood at $2.84 million, down from $161.66 million on Tuesday. Four-hour liquidations stood at $45.66 million.

Crypto liquidations
Total Crypto Liquidations 200722

Daily News Highlights

  • Beleaguered crypto platform Celsius received court approval to spend $3.7 million on a new bitcoin mining facility and $1.5 million on customs and excise duties on rigs.
  • Stablecoin issuer Circle talked about crypto regulations.
  • FBI issued a warning over bogus crypto apps.
  • Crypto.com and Trade Republic announced regulatory approvals in Italy.