Crypto Market Daily Highlights – ADA Leads the Top Ten for a Second Day
- It is a mixed Sunday session for the crypto top ten, with Cardano (ADA) leading the way while Binance Coin (BNB) and Dogecoin (DOGE) struggle.
- Fed fear took a back seat, with dip buyers jumping in to support the broader crypto market.
- The total crypto market cap is up by $3.5 billion to $955.7 billion.
It is a mixed Sunday session for the crypto top ten. Bitcoin (BTC) is set to end the day at sub-$20,000 for the fourth time this week while DOGE holds onto the number ten spot. ADA leads the way, finding further support from news of the Vasil hard fork date.
Market sentiment towards the Vasil hard fork was evident over the weekend, with ADA hitting $0.50 for the first time since August 19. For the broader crypto market, dip buyers provided modest support ahead of another busy week on the US economic calendar.
Following the influences of US economic indicators and Fed fear from last week, we expect the crypto market to continue tracking the NASDAQ 100 in the week ahead. While the US markets are closed for Labor Day, the NASDAQ 100 Mini will likely guide the market early in the Monday session.
Crypto Market Cap Sees Modest Decline in a Mixed Session
On Sunday, the total crypto market cap fell to an early low of $942.2 billion before rising to a high of $963.7 billion. A lack of cues from the news wires led to a pullback to sub-$950 billion before support kicked in late in the session.
Fed Fear remains a crypto headwind. However, crypto network updates are market positive.
The total crypto market cap is down by $34 billion to $955.7 billion for the current week.
The Crypto Market Movers and Shakers from the Top Ten and Beyond
It is a mixed Sunday session for the crypto top ten.
ADA is up 3.74% to lead the top ten, with ETH (+0.54%), SOL (+2.52%), and XRP (+0.52%) also avoiding the red.
However, BNB (-0.14%), BTC (-0.01%), and DOGE (-0.16%) are in negative territory with an hour of the session remaining.
From the CoinMarketCap top 100, it is a mixed session.
STEPN (GMT) leads the way, rising by 3.90%. Helium (HNT) and The Sandbox (SAND) are close behind, with gains of 3.01% and 3.49%, respectively.
Celsius Network CEL), 1inch Network (1INCH), and Chiliz (CHZ) lead the way down, however. CEL is down 6.02%, with 1INCH and CHZ down by 3.05% and 3.00%, respectively.
24-Hour Crypto Liquidations Holds Steady in a Mixed Sunday Session
Over 24 hours, total liquidations have eased back, supported by a relatively range-bound Sunday session.
At the time of writing, 24-hour liquidations stood at $47.78 million, down from $49.07 million on Sunday morning.
Liquidated traders over the last 24 hours have increased modestly. At the time of writing, liquidated traders stood at 17,110 versus 16,285 on Sunday morning. While liquidations over the last hour have declined, liquidations over 12 hours and 4 hours were higher, reflecting a choppy afternoon.
According to Coinglass, 12-hour liquidations stood at $30.26 million, up from $15.47 million on Sunday morning, with 4-hour liquidations up from $4.41 million to $5.33 million. One-hour liquidations are down from $1.12 million to $0.428 million. The chart below shows market conditions throughout the session.