Daily Cryptocurrency Market Highlights – XRP Trend and BNB Buck Top Ten Trend

the main ideas:

  • It was a mixed Sunday for the cryptocurrency top ten. XRP and BNB are in the red, bucking the broader market trend.
  • There were no cryptocurrency events or external market forces to influence, allowing bearish buyers to jump in after Saturday’s pullback.
  • The cryptocurrency market capitalization increased by $3.03 billion to end the day at $759.18 billion.

Sunday’s session was mixed for the top ten cryptocurrencies. XRP and BNB bucked the trend while ADA led the way. BTC is back in the green while the $17,000 handle has been elusive for the 12th consecutive session.

There were no crypto events or external market forces guiding investors for the direction in early 2023. The lack of news allowed bearish buyers to offer support after Saturday’s pullback.

With the global financial market closed today, it is unlikely that there will be any external forces in the market or crypto events that can provide guidance. Manufacturing PMI figures from the Eurozone and Eurozone member countries should have a muted effect on investor sentiment later today.

However, in the last hour (UTC), the NASDAQ mini is likely to have an impact.

Total Market Cap – NASDAQ – 020123 Daily Chart

The cryptocurrency market reverses Saturday’s loss to start 2023 in an uptrend

The Sunday session was bullish. A bearish start to the year saw the cryptocurrency’s market cap drop to a mid-morning low of $752.47 billion before finding support. Bullish in the afternoon session, the cryptocurrency’s market cap surged to a late high of $761.70 billion before retreating.

Despite the late decline, the cryptocurrency market cap rose $3.03 billion (0.40%) to $759.18 billion on the day.

Total market cap 020123 daily chart

Cryptocurrency market movers and shakers from the top ten and beyond

Sunday’s session was mixed for the top ten cryptocurrencies.

ADA rose 1.63% to lead the way, with BTC (+0.48%), DOGE (+0.29%), ETH (+0.39%) and MATIC (+0.29%) finding support.

However, bucking the trend, BNB and XRP fell by 0.73% and 0.01% respectively.

Of the CoinMarketCap Top 100, it was a mixed session.

Lido DAO (LDO) led the way, up 13.21%, with shares of Frax (FXS) and toncoin (TON) up 6.53% and 4.91%, respectively.

In contrast, UNUS SED LEO (LEO) fell by 2.62%, and klaytn (KLAY) and huobi token (HT) saw losses of 1.32% and 1.22%, respectively.

24-hour liquidations drop in trading volumes during the holidays

Over the course of 24 hours, cryptocurrency liquidations remained below normal levels as trading volumes fell over the weekend.

At the time of writing, liquidations over the course of 24 hours amount to $10.88 million.

Traders who liquidated in the last 24 hours were also at lower levels. At the time of writing, the number of liquidated traders is 5,811. Cryptocurrency liquidations were higher for 12 and four hours while it continued to swing below $1 million for one hour.

Total cryptocurrency liquidations 020123

According to Coinglass, 12-hour liquidations totaled $7.56 million, with four-hour liquidations worth $3.13 million. The total liquidation operations within one hour amounted to 0.568 million dollars.

The chart below shows market conditions throughout the session.

Total market cap 020123 hourly chart

Daily Crypto Market Highlights – XRP and BNB Buck Top Ten Trend – Coinphony [SV]

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