Crypto Market Daily Highlights – XRP and ADA Led the Top Ten

Key Insights:

• It was a mixed Friday for the crypto top ten. XRP led the way, while BTC bucked the trend for a second session.
• US economic indicators and the NASDAQ Index left the markets flat for the session, with stats pointing to a cooling US economy.
• The crypto market cap slipped by $96.68 million to end the day at $770.14 billion.

It was a mixed Friday session for the crypto top ten. XRP led the way, while BTC bucked the top ten trend for a second session. Notably, BTC failed to revisit $17,000 for the third consecutive session.

US economic indicators tested investor appetite in the afternoon session. Personal spending increased by just 0.1%, while personal income rose by 0.4%. Durable goods orders fell by 2.1% in November, reversing a 0.7% increase in October.

However, inflation figures were crypto-friendly. The all-important Core PCE Price Index was up 4.7% year-over-year in November versus 5.0% in October, with the Michigan Inflation Expectations Index down from 4.6% to 4.4%.

The fall in inflation expectations supported a pickup in consumer sentiment, with the Michigan Consumer Sentiment Index rising from 56.8 to 59.7 in December. In response to the stats, the NASDAQ Index ended the day up 0.21%, with the S&P 500 gaining 0.59%.

The mixed numbers gave the markets little to go with vis-à-vis the Fed and whether the Fed can take its foot off the gas.

With trading volumes likely to fall over the holidays, investors should monitor the crypto news wires throughout the day. While FTX will be a focal point, regulatory risk, sentiment toward the economic outlook, and the Fed remain other considerations.

Crypto Market Sees Pre-Holiday Range-Bound Session

It was a range-bound Friday session. After a mixed morning, the crypto market cap rose to an early afternoon high of $771.82 billion before falling to a low of $769.21 billion.

The afternoon moves came in response to the US economic indicators, with the stats sending mixed messages for investors and the Fed to consider.

However, finding late support, the crypto market cap ended the day down by $98.68 million to $770.14 billion.

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

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

ADA (+1.17%) and XRP (+1.47%) rose by 1.17% and 1.47%, respectively, to lead the way.

BNB (+0.12%), DOGE (+0.65%), ETH (+0.20%), and MATIC (+0.33%) also found support, while BTC bucked the trend with a 0.21% loss.

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

Decentraland (MANA) led the way, rallying by 6.94%, with lido DAO (LDO) and helium (HNT) seeing gains of 4.78% and 3.98%, respectively.

However, tron (TRX) was among the worst performers, falling by 2.05%, with monero (XMR) and synthetix (SNX) seeing losses of 1.53% and 1.98%, respectively.

24-Hour Liquidations Fall on Pre-Holiday Trading Volumes

Over 24 hours, crypto liquidations fell to below-normal levels, with trading volumes on the lower side.

At the time of writing, 24-hour liquidations stood at $14.60 million versus $34.55 million on Friday morning.

Liquidated traders over the last 24 hours also decreased. At the time of writing, liquidated traders stood at 4,706 versus 11,948 on Friday morning. Crypto liquidations decreased over one hour and over four and 12 hours.

According to Coinglass, 12-hour liquidations fell from $29.70 million to $7.38 million, with four-hour liquidations down from $12.69 million to $0.702 million. One-hour liquidations slipped from $0.290 million to $0.097 million.

The chart below shows market conditions throughout the session.