Crypto Market Daily Highlights – ADA Leads on Vasil Hard Fork News

Key Insights:

• It was a mixed Saturday session for the crypto top ten, with Cardano (ADA) leading the way and Dogecoin (DOGE) returning to the top ten.
• There were no crypto events to influence, leaving Fed fear and sentiment towards the Vasil hard fork to provide direction.
• The total crypto market cap declined by $3.6 billion to $952.2 billion.

It was a mixed Saturday session for the crypto top ten. Bitcoin (BTC) ended the day at sub-$20,000 for the third time this week. However, DOT gave up the number ten spot to DOGE, with ADA finding support from news of the Vasil hard fork date.

While news of the Vasil hard fork data was crypto market positive, Yellen’s comments from Friday continued to resonate. On Friday, US Treasury Secretary and Former Fed Chair Janet Yellen weighed on risk sentiment. The Former Fed Chair reportedly said that inflation remained too high, and the onus sat with the Fed to bring inflation down.

With the crypto correlation with the NASDAQ 100 remaining firmly in place, we can expect direction from the NASDAQ 100 Mini in the final hour of today’s session.

Crypto Market Cap Sees Modest Decline in a Mixed Session

On Saturday, the total crypto market cap rose to an early high of $963.5 billion before sliding to a low of $941.2 billion. A lack of cues from the news wires allowed a late recovery, with the crypto market cap ending the day at $952.2 billion.

While geopolitics and Fed Fear remained crypto headwinds, crypto network updates were market positive.

The total crypto market cap is down by $30 billion to $951 billion for the current week.

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

It was a mixed Saturday session for the crypto top ten.

ADA rallied by 5.95% on news of the Vasil hard fork date, with BNB (+0.14%) and DOGE (+1.74%) also finding support. DOGE returned to the top ten as a result.

However, it was a bearish session for the rest of the top ten. ETH fell by 1.14%, with BTC (-0.68%), SOL (-0.40%), and XRP (-0.52%) seeing red.

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

Filecoin (FIL) led the way, rallying by 11.51%, with Celsius Network (CEL) and Axie Infinity (AXS) seeing gains of 5.91% and 8.72%, respectively.

At the other end of the table, Helium (HNT) continued to slide, falling by 7.61%. UNUS SED LEO (LEO) and Nexo (NEXO) ended the day with losses of 4.16% and 4.31%, respectively.

24-Hour Crypto Liquidations Slide as Market Moves Sideways

Over 24 hours, total liquidations fell back, supported by steadying market conditions early in the Sunday session.

At the time of writing, 24-hour liquidations stood at $49.07 million, down from $149.87 million on Saturday morning.

Liquidated traders over the last 24 hours also declined. At the time of writing, liquidated traders stood at 16,285 versus 43,947 on Saturday morning. Liquidations over 12 hours and four hours fell significantly, while one-hour liquidations rose.

According to Coinglass, 12-hour liquidations stood at $15.47 million, down from $122,97 million on Saturday morning, with 4-hour liquidations down from $28.83 million to $4.41 million. One-hour liquidations inched up from $1.10 million to $1.12 million. The chart below shows market conditions throughout the session.