The crypto market cooled down last week, but we are slowly seeing volatility pick up again. More volatility is expected this week, but most prices are already turning red. A strange rumor is already pushing some prices down harder, but a notorious stablecoin continues to rise sharply. The total market cap of all cryptocurrencies drops 2.2% to $959 billion.
📈Market Overview#BTC price trades below $20K
The Top 10 are traded in red zone: $XRPL -7.2%, $ADA -5.7%, $DOGE +4.5%.
Market cap: $968B (-2.56%) $BTC dominance: 37.72% (+0.69%)
Fear & Greed Index: 24 (Extreme Fear)Full Report👉https://t.co/89DQYoQUyW pic.twitter.com/WCbvB3PbJv
— CryptoRank Platform (@CryptoRank_io) October 11, 2022
Bitcoin to $19,000
Bitcoin (BTC) fell back to $19,000 last night, but appears to be holding up here for now. However, it can be problematic if the price loses support here. At the time of writing, the bitcoin price is testing $19,100 on Coinbase and $19,670 on Bitvavo, but is still down 1.8% today. The price is expected to become even more volatile this week.
Major Bitcoin volatility compression and both PPI & CPI this week
Interesting week ahead pic.twitter.com/9HGAnmtoc9
— Will Clemente (@WClementeIII) October 10, 2022
Ethereum below $1,300
Ethereum (ETH) dropped a bit more than bitcoin yesterday. The ether price itself nearly came in at $1,270 this morning, but is currently rising. ETH stands at $1,285 at the time of writing, down 2.2% today. Despite this, investors already seem to be stocking up, the circulating supply has decreased considerably in recent days, reports analysis company Delphi Digital.
The Circulating Supply of Ethereum is down by almost 4,000 $ETH over the past 2 days.🔥 pic.twitter.com/zaFeuHhwqR
— Delphi Digital (@Delphi_Digital) October 10, 2022
XRP, ADA, SHIB down a lot
The other prices of the largest crypto are also red today. Ripple (XRP), cardano (ADA) and shiba inu (SHIB) in particular are falling sharply. All three rates happen to be 5.7% down today. XRP is currently diving below USD 0.49, ADA below USD 0.4 and SHIB even briefly touched below USD 0.00001 last night.
Sushi plummets after weird rumors
There seems to be some volatility in the market due to strange rumors about sushi swap (SUSHI). The sushi price is down 7.6% because of rumors that the owner has fingered a horse. The new Sushi CEO of course denies the rumours. Meanwhile, new tokens are popping up with names like Horse Inu, Finger Horse Inu and Sushi Horse. It’s still the crypto world.
In case you’re wondering why #SUSHI dumped abnormally, it’s because the owner of the $SUSHIA project evidently “fingered a horse”.@SushiSwap pic.twitter.com/nKQ4SNrIfz
— Mishaal (@notmishaal) October 11, 2022
Crypto top 100 hardest fallers and risers
Yet there are in the top 100 races that are already taking heavier blows. Rocket pool (RPL) is down 9%, chiliz (CHZ) and ethereum classic (ETC) both are down nearly 10% and evmos (EVMOS) is down more than 11%.
In contrast, tokenize xchange (TKX) is 8% in the plus. Huobi token (HT) made a huge jump yesterday and is even 23.5% in the plus today.
About Capital CEO Ted Chen and HE Justin Sun share their vision for Huobi Global after acquisition.@justinsuntron said: “Our key focus will be on supporting the Huobi Token (HT) .”https://t.co/fvfJEYAzZ6
— Huobi (@HuobiGlobal) October 10, 2022
Terra Classic USTC continues to rise sharply
Yet it is once again terraclassicusd (USTC), the collapsed stablecoin of the Terra Luna Classic (LUNC) ecosystem, that once again steals the show. USTC briefly tapped $0.059 this morning, but is now falling to $0.055. This means that the price is again 40% in the plus today and now almost 80% in the plus compared to a few days ago.
Still, the current price is still a long way from $1, its original peg to the dollar. This kind of extremely volatile crypto can fall just as quickly as they have risen.
$USTC BURN update #USTC just reached another level #USTC #USTCBurn #LUNCBURN pic.twitter.com/wR8kuFZiCN
— LunaClassic HQ 🌕 ™ 𒀭 (@LunaClassicHQ) October 11, 2022
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