Bitcoin
$16,171.78
-359.86
Ethereum
$1,171.37
-40.45
Litecoin
$71.94
-4.97
DigitalCash
$39.42
-2.23
Monero
$134.55
-3.07
Nxt
$0.00
-0
Ethereum Classic
$18.96
-1.06
Dogecoin
$0.09
-0.01

Solana leads US CPI induced market recovery

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In the last 24 hours, the cryptocurrency market cap saw inflows of around $50 billion as the industry rose to $872.68 billion from $828.94 billion as of press time — up 5.26%.

Bitcoin and Ethereum’s market cap increased by 5.26% and 7.19% to $332.72 billion and $155.89 billion, respectively.

The crypto market experienced a positive bounce as the top 10 cryptocurrencies all posted significant gains. Solana printed the highest green candle, rising by 28% over the reporting period. BTC and ETH recorded increases of 5.57% and 7.99%, respectively.

CryptoSlate wMarket update
Source: CryptoSlate.com

The market caps of USD Coin (USDC) and BinanceUSD (BUSD) slightly increased to $43.7 billion and $23.03 billion, respectively. Tether’s (USDT) market cap decreased to $68.14 billion.

Bitcoin

Over the last 24 hours, Bitcoin posted gains of 5.57% to trade at $17,379 as of 07:00 ET. Its market dominance remained flat at 38.1% over the reporting period.

After days of consecutive poor performance, Bitcoin price briefly traded above the $18,000 barrier after US authorities released October’s Consumer Price Index (CPI) data. The asset bottomed at $16,367 over the reporting period.

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

Ethereum

ETH gained 7.99% in the last 24 hours, trading for $1,281 as of 07:00 ET. Its market dominance rose to 17.9% from 17.5%.

The second-largest digital asset posted a giant green candle around 09:00 UTC on Nov. 10, pushing it above $1,200. The asset traded sideways for the rest of the day.

CryptoSlate wMarket update
ETH 24-Hour Price Performance (Source: Tradingview)

Top 5 Gainers

Constitution DAO

PEOPLE is the day’s biggest gainer, growing by $69.19% to $0.03 as of press time. The DAO movement token is one of the few outliers in the current market situation, rising 30% over the last seven days. Its market cap stood at $166.85 million.

FTX Token

FTT recorded gains for the first time this week, rising by over 35% in the last 24 hours to $3.47. The embattled network has enabled withdrawals for users in Turkey and Japan. Its market cap stood at $461.64 million.

Solana

Like FTT, SOL posted a positive price performance over the last 24 hours, increasing by 30% over the reporting period to $17.64. The suspension of the token unlock to a later date fueled its run. Its market cap stood at $6.44 billion.

dYdX

The native token of the decentralized exchange DYDX continued its upward movement, gaining 30.57% over the last 24 hours and trading at $1.96 as of press time. Its market cap stood at $128.59 million.

Band Protocol

BAND rose by 28.49% over the last 24 hours to trade at $2.39 as of press time. It was unclear why the Cosmos-based data oracle was rising. Its market cap stood at $84.13 million.

Top 5 Losers

VIDT Datalink

VIDT is the day’s biggest loser, shedding 5.71% of its value over the last 24 hours to trade at $0.26 as of press time. Over the last seven days, the crypto token has shed around 50% of its value. Its market cap stood at $202.99 million.

Secret

SCRT lost 0.8% of its value in the last 24 hours, trading for $0.72 as of press time. Its market cap stood at $118.11 million.

Huobi Token

The native token of the crypto exchange HT plunged 0.39% over the reporting period to trade at $5.99 as of press time. It was unclear why the token was falling. Its market cap stood at $919.45 million.

Binance USD

BUSD fell by 0.31% in the last 24 hours. however, the Binance-backed stablecoin maintained its peg throughout the reporting period. Its market cap stood at $23.03 billion.

Paxos Standard

Another stablecoin among the top losers of the day is USDP. The Dollar-pegged stablecoin maintained its peg despite the volatility. Its market cap stood at $944.64 million.

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