RAY, ORDI & DOGE are in the news as the Cryptocurrency market remains highly dynamic, with notable fluctuations in key areas such as the market capitalization, the 24-hour volume, the BTC dominance rate, and percentage liquidations.
Daily Summary on November 9, 2024$RAY $ORDI $HMT $WLD $MNT $ETH $BTC $SOL $DOGE $DRIFT#dailysummary #DeFi #Crypto pic.twitter.com/TKSksvp6dl
— PHOENIX – Crypto News & Analytics (@pnxgrp) November 9, 2024
Market Overview
According to Coinmarketcap data, the market capitalization of all cryptocurrencies, as of today, is already reaching an incredible $2.61 trillion, with the 24H volume of crypto trade reaching $126.37 billion. Prominent cryptocurrencies include Bitcoin (BTC) and Ethereum (ETH); BTC’s price is $76,562, with a dominance of 58.1%. ETH is at a price of $3,034, and it holds 14% of the total market cap.
The Total Value Locked (TVL) in DeFi is $ 164.23B, and this shows that investors continue to show interest in decentralized finance. On the other hand, gas fees are considerably lower in the Ethereum network at 10 GWEI, which makes it easier for transactions to take place.
Sentiment Analysis: Fear and Greed Index
The sentiment in the market is slightly more on the ‘’Greed’’ side according to the Fear and Greed index, which is currently at 75. This shows positive investors’ sentiment, and it has risen from a score of 72 in the last 24 hours to 75 a week ago. Last month, the index was at 49, which means it was neutral, and therefore, the increase means that people are becoming more confident in the market.
Price Bounce & Dip: Top Performers in the Last 24 Hours
Out of the most volatile assets, RAY has emerged as the leader, with a rise in RAY price by 22.55% after a small decline of -0.34%. Following closely is ORDI at a 13.58% bounce and a -2.18% dip. Other remarkable assets are HMT and WLD, which demonstrate a rebound from a minor slump with 13.43% and 13.28%, respectively. Finally, MNT succeeded with a 13.26% bounce, affirming that recovery has been across the board for most coins. These movements suggest that the trading environment is healthy.
Top Liquidations in 24 Hours: ETH, BTC, and Beyond
Looking at the trading data in the past 24 hours, Ethereum massively recorded the highest liquidation rate at $45.83M, with Bitcoin coming in second at $35.69M. Another coin that also experienced high liquidation was Solana (SOL), with a total of $13.21M, Dogecoin (DOGE) $12.33M and Drift Protocol $10.12M.
Trading sentiment for Bitcoin reveals a tight contest between the bulls and bears. In summary, the BTC longs remain 49.74% while on the other hand, the BTC shorts remain 50.26%.
Today’s market overview looks positive; high volatility is a threat and a benefit at the same time. Such tokens as RAY, ORDI, and WLD demonstrate high bounce; however, ETH and BTC dominate in liquidations. Of course, the volatility should be taken with caution as per usual, especially for the market participants.
