Crypto Market Daily Highlights – SOL Leads Top Ten in Bullish Session
- It is a bullish Friday session for the crypto top ten, with Solana (SOL) leading the way.
- The NASDAQ 100 delivered support, with hopes of a peak in inflation driving appetite for riskier assets.
- The total crypto market cap is up by $23.4 billion to $1,141 billion.
There were no cues from the crypto market news wires to provide support, leaving the crypto market in the hands of market risk sentiment and US economic indicators.
Following the softer US inflation figures, US consumer confidence was the key stat of the day. According to prelim figures, the Michigan Consumer Sentiment Index jumped from 51.5 to 55.1 in August. Looking at the sub-components, the Michigan Inflation Expectations Indicator slipped from 5.2% to 5.0%.
Bitcoin and the broader market responded to the numbers, which were crypto-positive.
The NASDAQ 100 enjoyed a bullish session, delivering the broader crypto market with support. On Friday, the NASDAQ 100 rallied by 2.09% to end the week up 3.8%.
The Total Crypto Market Cap on the Rise after the Thursday Consolidation
On Friday, the total crypto market cap fell to a late morning low of $1,101 billion before surging to a final hour high of $1,145 billion. Following softer US inflation figures, US consumer sentiment and inflation expectation figures delivered the breakout session.
With 30 minutes of the Friday session left, the total crypto market cap was up $23.4 billion to $1,141 billion. A bullish week has seen more than $63 billion pour in.
The Crypto Market Movers and Shakers from the Top Ten and Beyond
It is a bullish Friday session for the crypto top ten.
From the CoinMarketCap top 100, it is a mixed session.
Huobi Token (HT) leads the way, rallying 17.76% on news of Huobi Global founder Leon Li looking to sell 60% of the exchange, with Tron and FTX interested parties.
OKB (OKB) and Celsius (CEL) are up 12.99% and 9.8%, respectively.
However, Ankr (ANKR) leads the way down, sliding by 6.94%, with Flow (FLOW) and Zcash (ZEC) seeing losses of 1.86% and 1.64%, respectively.
Total Crypto Liquidations Slide Amidst Bullish Crypto Sentiment
This morning, total liquidations subsided as the crypto market responded to a bullish US session, supported by the US economic indicators.
At the time of writing, 24-hour liquidations stood at $169 million, down from $343 million on Friday morning.
Liquidated traders have fallen over the last 24 hours. At the time of writing, liquidated traders stood at 44,239 versus 58,688 on Friday morning. While liquidation numbers are down over 24 hours and 12 hours, one-hour and four-hour liquidations have spiked. The spike is likely due to the liquidation of short positions.
According to Coinglass, four-hour liquidations stood at $52.55 million, up from $7.83 million on Friday morning. One-hour liquidations have increased from $1.54 million to $45.36 million (see hourly crypto market cap chart below).