Daily Crypto Market Highlights – Ethereum (ETH) Leads Crypto Top Ten

by Arthur · August 8, 2022

Table of Contents

Key insights:

It’s a bullish start to the week for the crypto top ten, with Ethereum (ETH) and Polkadot (DOT) leading the way.
Investors continued to brush aside fears of a more significant Fed rate hike, with recent US economic indicators easing concerns over a US recession.
The total crypto market cap is up $26.61 billion to $1,101 billion.

It’s a bullish Monday session for crypto top ten. In a choppy session, bitcoin (BTC) visited the $24,000 handle for the first time in eight sessions. Ethereum (ETH) leads the way, hitting $1,800 for the first time since June 10.

Better-than-expected US payrolls and ISM Non-Manufacturing PMI numbers from last week remained the main driver. Fears of an economic recession in the US had weighed on the broader crypto market ahead of last week’s statistics.

However, unlike the US stock markets, crypto investors seemed less concerned about another significant Fed rate hike. The result was a disconnect from the NASDAQ 100, which ended the day in the red for another session.

After the NASDAQ 100’s loss of 0.50% on Friday, the NASDAQ 100 fell 0.10%.

At the time of writing, the NASDAQ 100 Mini was up 14.25 points.

Total Market Cap – NASDAQ – 090822 5 min chart

The total crypto market capitalization starts the week on the upswing

On Monday, the total crypto market capitalization fell to an early low of $1,072 billion before rising to a mid-day high of $1,127 billion. However, another late decline saw its market cap fall to $1.095 billion before stabilizing. The total market cap for crypto ended the last day at $1.1 trillion on June 11.

Up $26.61 billion on Monday, the total crypto market cap is up $45 billion for August.

Total market cap 090822 daily chart

Crypto Market Movers and Shakers from the Top Ten and Beyond

It’s a bullish Monday session for crypto top ten.

With one hour to go, ETH and DOT lead the way, with gains of 4.73% and 4.58% respectively, with SOL up 4.01%

ADA (+1.52%), BNB (+0.40%), BTC (+2.78%) and XRP (+1.55%) followed ahead.

From the CoinMarketCap top 100, it’s a mixed session.

The Graph (GRT) leads the way, rising 15.5%, with Flow (FLOW) and NEAR Protocol (NEAR) close behind. With one hour to go, FLOW is up 14.11%, with NEAR up 10.81%.

However, Lido DAO (LDO) leads the way, falling 6.26%, while Decred (DCR) and Theta Network (THETA) have losses of 6.25% and 4.19% respectively.

Total jump in crypto liquidations in Bullish Monday session

This morning, 24-hour liquidations were higher after being below $100 million for two consecutive sessions.

At the time of writing, 24-hour liquidations stood at $187 million, up from $63 million on Monday morning.

Liquidated traders increased in the last 24 hours. At the time of writing, liquidated traders stood at 57,332 compared to 27,681 on Monday morning.

One-hour and four-hour liquidations also rose, reflecting a late market pullback as investors locked in profits ahead of tomorrow’s US inflation numbers.

Total crypto liquidations 090822

According to Coinglass, four-hour liquidations totaled $19.75 million, up from $16.91 million on Monday morning. One-hour liquidation increased from $3.89 million to $8.71 million (see hourly crypto market capitalization chart below).