Crypto Market Daily Highlights – ADA and BNB Lead a Top Ten Surge

Key Insights:

• It was a bullish Sunday session for the crypto top ten, with ADA leading the way.
• Hopes of a soft landing and a bullish start to the week for the NASDAQ mini supported a breakout session.
• The crypto market cap rose by $13.78 billion to end the day at $797.73 billion.

It was a bullish session for the crypto top ten on Sunday, with ADA and BNB leading the way. BTC also found support, wrapping up the day at $17,000 for the first time since December 15.

After a range-bound Saturday session, a bullish end to the Sunday session wrapped up a positive week as the Asian markets responded further to the US jobs report and ISM Non-Manufacturing PMI survey from Friday.

While the ISM Manufacturing and Non-Manufacturing PMIs signaled a US economic recession, hopes of a soft landing delivered late support. Bets of a 50-basis point Fed interest rate hike in February have tumbled, easing fears of a hard landing. There were no crypto events to fuel the late rally.

It is a quiet day on the US economic calendar today, with no economic indicators for investors to consider. However, any FOMC member commentary and the NASDAQ Index will likely influence during the afternoon session. This morning, the NASDAQ mini was up 14.25 points.

Investors will also need to monitor the crypto news wires for updates from the SEC v Ripple case, Huobi Global news, and the ongoing investigations into Binance US.

Crypto Market Sees Late Charge on US Economy Optimism

It was a bullish Sunday session. A bearish start to the day saw the crypto market cap fall to an early low of $780.54 billion. However, recovering from the low, the crypto market cap surged to a final-hour high of $801.96 billion before easing back.

Despite the pullback, the crypto market cap ended the session at $797.73 billion, marking a $13.78 billion gain for the day.

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

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

ADA and BNB led the way with gains of 7.22% and 5.13%, respectively, with MATIC (+4.24%) finding strong support.

BTC (+1.07%), ETH (+2.06%), DOGE (+1.66%), and XRP (+0.20%) trailed the front runners.

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

Lido DAO (LDO) led the way, surging by 32.32%, with zilliqa (ZIL) and optimism (OP) seeing gains of 24.33% and 15.45%, respectively.

However, GMX (GMX) fell by 2.38%, with OKB (OKB) and monero (XMR) seeing losses of 0.98% and 0.41%, respectively.

24-Hour Liquidations Surge in Late Sunday Breakout

Over 24 hours, crypto liquidations returned to normal levels, with a late breakout driving liquidations higher. At the time of writing, 24-hour liquidations stood at $104.88 million versus $10.92 million on Sunday morning.

Liquidated traders over the last 24 hours were also higher. At the time of writing, liquidated traders stood at 39,050 versus 6,193 on Sunday morning. Crypto liquidations were higher over 12 and four hours and over one hour.

According to Coinglass, 12-hour liquidations stood at $96.52 million, up from $6.09 million on Sunday, with four-hour liquidations up from $3.91 million to $60.15 million. One-hour liquidations stood at $23.95 million versus $2.23 million on Sunday morning.

The chart below shows market conditions throughout the session.