Crypto Market Daily Highlights – SOL Leads a Mixed Top Ten Session

Key Insights:

• It is a mixed Saturday session for the crypto top ten, with SOL leading the way while XRP joins ETH and BNB in the red.
• News of Google Cloud link with Solana delivered an SOL breakout.
• The crypto market cap is up $4.1 billion to $1,014 billion, with 90 minutes (UTC) of the session remaining.

It is a mixed Saturday session for the crypto top ten. SOL leads the way. However, XRP joins BNB and ETH in negative territory. BTC is up for a third consecutive session, holding onto the $21,000 handle and set to avoid sub-$21,000 for the first time since September 12.

It was a quiet Saturday session, with no crypto event providing the broader market with direction. The lack of events left investors to consider the events and economic indicators from the week.

Hawkish Fed Chair Powell chatter from Wednesday was met with a crypto-friendly US jobs report on Friday, providing support into the weekend. However, SOL led the way on news of Google Cloud working with Solana. Google Cloud made the announcement on Twitter, saying,

“Google Cloud is working with Solana to bring Blockchain Node Engine to the Solana chain next year, so it will be easy for anyone to launch a dedicated Solana node in the cloud.”

In contrast, XRP struggled through the session as investors considered the latest extensions that officially take the SEC v Ripple case into 2023.

With the US markets closed over the weekend, the continued crypto correlation with the NASDAQ Composite Index will leave the crypto market under the influence of the NASDAQ Mini in the final hour of today’s session (UTC).

Crypto Market Holds onto the $1 Trillion Handle for a Second Session

It is a bullish Saturday session. The crypto market slipped to an early low of $1,000 billion before rising to a mid-morning high of $1,030 billion.

Bullish sentiment from Friday spilled over to the Saturday session, delivering another bullish day with 90 minutes remaining.

Despite an afternoon pullback, the crypto market is up $4.1 billion (+0.41%) to $1,014 billion.

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

It is a mixed Saturday session for the crypto top ten, with 90 minutes (UTC) of the day remaining.

SOL leads the way, surging by 9.91%, with ADA up by 2.13%.

While BTC (+0.85%) and DOGE (+0.71%) also find support, BNB (-0.96%), ETH (-0.80%), and XRP (-1.73%) are in the red.

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

Apecoin (APE) and solana (SOL) lead the way, with gains of 9.96% and 9.91%, respectively. Axie infinity (AXS) is also a front-runner rising by 9.77%.

However, FTT token (FTT) and Elrond (EGLD) lead the way down, with losses of 4.25% and 3.33%, respectively. Lido DAO (LDO) is also struggling, falling by 2.59%.

24-Hour Crypto Liquidations Fall Back on Range-Bound Session

Over 24 hours, total liquidations eased to normal levels as the crypto market consolidated Friday’s breakout session. At the time of writing, 24-hour liquidations stood at $81.40 million, down from $254.03 million on Saturday morning.

Liquidated traders over the last 24 hours also decreased. At the time of writing, liquidated traders stood at 49,950 versus 90,998 on Saturday morning. Liquidations were down over one and four hours and over 12 hours.

According to Coinglass, 12-hour liquidations fell from $185.40 million to $29.41 million, with four-hour liquidations down from $13.58 million to $3.89 million. One-hour liquidations slipped from $1.92 million $0.415 million, reflecting steady market conditions.

The chart below shows market conditions throughout the session.