CryptoSlate Daily WMarket Update – Sept. 19

The total cryptocurrency market cap saw net inflows totaling $32.1 billion. As of press time, it stood at $935.61 billion, up 3.5% over the weekend.

Bitcoin’s market cap grew 3.6% over the reporting period to $370.69 billion from $357.68 billion. Meanwhile, Ethereum’s market cap was up 4.2% to $166.48 billion from $159.70 billion over the last 24 hours.

After a period of major selling, the top 10 cryptocurrencies all posted gains over the last 24 hours, with XRP leading the pack at 7.2%. Meanwhile, Polkadot brought up the rear with a 1.8% gain.

The market cap of the top three stablecoins — Tether (USDT), USD Coin (USDC), and BinanceUSD (BUSD) — remained flat over the past 24 hours, standing at $67.93 billion, $50.12 billion and $20.51 billion, respectively.

Bitcoin

Over the last 24 hours, Bitcoin was up 5% to trade at $19,400 as of press time. Market dominance rose slightly from 39.5% to 39.6% over the period.

A weekend sell-off spilled into Monday, dropping BTC to as low as $18,200. This was attributed to the market pricing in an expected 75-100 basis point hike by the Fed this week. The market leader bounced back at lunchtime (UTC) to recover Monday’s losses.

Ethereum

Ethereum grew 5% over the last 24 hours to trade at $1,357 as press time. Market dominance increased slightly from 17.5% to 17.8%.

ETH bulls brought some respite from the continual slide seen post-Merge. Price action largely mirrored that of Bitcoin, with $1,290 providing multiple continual instances of support on the hourly chart before a recovery set in on the morning of September 19.

Ethereum chart — Source: TradingView.com

Top 5 gainers

Pundi X

PUNDIX leads the top gainers over the last 24 hours, trading around $0.59042 as of press time — up 28% over the period. The token spiked as high as $1.06 on September 13, followed by an extreme sell-off since. Its market cap stood at $152.62 million.

Voyager Token

VGX recorded 21.94% gains over the past 24 hours to trade at around $0.73217 at press time. The token has appreciated over 160% over the last 30 days amid rumors of a buyer taking over the bankrupt platform. Its market cap stood at $203.9 million.

TerraUSD

USTC grew 16.51% over the past 24 hours and was trading at around $0.03444 at the time of publishing. The rebranded UST stablecoin, at the heart of the Terra implosion, is still yet to re-peg, despite today’s gains. Its market cap stood at $338.08 million.