It is again remarkably quiet on the crypto market. Most of the top 100 prices end up at about the same price as they were 24 hours ago. The total market capitalization is only 0.1% up today at $876 billion.
The market is already very cautious due to the poor macroeconomic situation, which was exacerbated by the recent FTX crash. It is speculated that the market is currently extra hesitant due to the new US inflation data and the interest rate hike that will be announced next week. Despite this, some decentralized finance (DeFi) projects are turning green today.
📈 Market Overview#BTC price trades below $17K
The Top-10 are traded in red zone: $DOGE -2.48%, $ETH -1.82%, $BNB -1.25%.
Market cap: $886B (-1.16%) $BTC dominance: 36.48% (+0.31%)
Fear & Greed Index: 25 (Extreme Fear)Full Report👉https://t.co/IwPtawccOy pic.twitter.com/dYE0rMVNYH
— CryptoRank Platform (@CryptoRank_io) December 8, 2022
Bitcoin is holding up better than stocks
Bitcoin (BTC) failed to hold above $17,000 on Tuesday night, but is holding just above $16,800 for now. Volatility is currently declining rapidly and bitcoin is down 0.1% today. Nevertheless, the bitcoin price has held up better than stock markets in recent days.
narrative destruction. pic.twitter.com/dYwf1dksVU
— Data Always (@Data_Always) December 8, 2022
Crypto top 10 prices extremely quiet
Ethereum (ETH) also remained very quiet over the past 24 hours. The ETH price was rejected at $1,300 earlier this week and has been hovering around $1,230 since yesterday. The ether price is also only 0.1% up today.
The same generally applies to the rest of the top 10. Binance coin (BNB) is up 0.1%, polkadot (DOT) is down 0.2% and cardano (ADA) and dogecoin (DOGE) come out at the same price as 24 hours ago.
Polygon (MATIC) is picking up slightly stronger and is up 1.1% today. The MATIC price was rejected at $0.9 last night and is currently bouncing at $0.895.
#zkEVM passing 99.5% of Ethereum test vectors putting @0xPolygon #zkEVM at extremely high EVM Equivalence.
This is also reflected in the Dev experience where 1000s of solidity smart contracts have been deployed on zkEVM without any changes whatsoever.
🏃♂️towards mainnet soon! https://t.co/U4ZRCtgWn1
— Sandeep | Polygon 💜🔝3️⃣ (@sandeepnailwal) December 7, 2022
XRP strongest riser from crypto top 10
Ripple (XRP) is the strongest out of the top 10 today, although the price is still only 1.4% up today. XRP failed to break $0.39 last night and is currently trading at $0.385. The tension regarding the lawsuit seems to be rising again since the verdict against LBRY.
#XRPCommunity #SECGov v. #Ripple #XRP #LBRY In the LBRY case, LBRY has filed a motion to limit the remedies the SEC can seek against LBRY as a result of the Court granting the SEC’s Motion for Summary Judgment.https://t.co/imCB1SxWQo
— James K. Filan 🇺🇸🇮🇪 126k (beware of imposters) (@FilanLaw) December 8, 2022
Crypto top 100 hardest fallers
The rest of the top 100 largest crypto also remained relatively quiet in the past 24 hours. At the top of the red side today we find axie infinity (AXS) down 3.5%. Near (NAR) is down 3.6% and immutablex (IMX) could drop out of the top 100 any time after a 4% drop.
DeFi is picking up the strongest today
At the top of the green side, we have a number of DeFi projects today. For example, synthetix network (SNX) is up 5.8% and ends at $1.96. Frax share (FXS) is up 6.1% and rising to $6.07. Next we have nexo (NEXO), which is up 6.3% to USD 0.67
Smart Strike is live on Nexo!
Earn staking rewards, paid out daily.
Join the #Ethereum 2.0 validating network without any hassle – just swap $10 or more of $ETH for Nexo Staked ETH $NETH and you’re in. Smart is simple.
Happy Strike! 🧵https://t.co/tyT1YzJeYe
— Nexo (@Nexo) December 7, 2022
Finally, today we find at the top radix (XRD). The XRD price is up more than 10% compared to 24 hours ago and even more than 40% up compared to a week ago. The RDX price is about to test the $0.046.
The day has finally arrived…
Soon you’ll see the future of Web3 at #RadFi2022#Radix $XRD pic.twitter.com/ZgTnt1VK6Y
— Radix – Radically Different DeFi (@radixdlt) December 8, 2022
Trade together with Crypto Insiders
Are you looking for help with trading? Do you have questions and would you like to receive technical analyzes immediately? Join and try a Premium membership free for 30 days. Here our analysts share their market knowledge and the latest analyzes 24/7. Here you can also get in direct contact with various market experts and crypto enthusiasts who are ready to help you!
Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences and are for educational purposes only.