CryptoSlate Daily wMarket Update – Oct. 20: TRON leads top 10 in continued sluggish market

The cryptocurrency market cap saw net outflows of $9.1 billion since the last wMarket report. As of press time, the total crypto market cap stood at $910.96 billion, down 1% over the last 24 hours.

Bitcoin’s market cap fell 0.1% over the reporting period to $365.4 billion from $369.10 billion. Meanwhile, Ethereum’s market cap decreased by 1.6% to $157.58 billion from $158.01 billion.

The top 10 cryptocurrencies all posted losses over the last 24 hours. The exception was TRON, which saw a marginal gain of 0.33%. Polkadot was the biggest loser, dropping 4.3% in its price over the period.

The market caps of Tether (USDT) and BinanceUSD (BUSD) were flat over the last 24 hours at $68.45 billion and $21.63 billion, respectively. Meanwhile, USD Coin’s (USDC) market cap continued to fall, losing $0.53 billion to $43.89 billion.

Bitcoin

Over the last 24 hours, the Bitcoin price fell 0.4% to trade at $19,058 as of press time. Its market dominance rose slightly to 40.1% from 39.9% over the reporting period.

During the reporting period, the leading cryptocurrency peaked at $19.350, leading to a downtrend. The BTC price found support at $18,930 at 21:30 (UTC), ranging in a narrow band between $18,980 and $19,130 since.

Ethereum

Ethereum’s price fell by 0.2% to trade at $1,289 as of press time. Its market dominance rose slightly from 17.2% to 17.3%.

Over the reporting period, the second-largest cryptocurrency also topped out by Thursday early evening at $1,311. Mirroring BTC, ETH’s downtrend bounced at 21:30 (UTC), finding support at $1,272. The ensuing price action saw ranging between $1,279 and $1,292.

Top 5 Gainers

Phala.Network

PHA is today’s top gainer, growing 18.6% over the reporting period to trade at $0.24889 as of press time. The privacy protocol has seen an impressive 172% gain over the past month. Its market cap stood at $101.86 million.

Toncoin

TON grew 11.4% over the reporting period, trading at $1.37808 as of press time. The token saw heavy demand on Thursday evening, leading to a spike in price. Its market cap stood at $1.68 billion.

Polymath Network

POLY gained 5.1% over the last 24 hours to trade at $0.26946 as of press time. Its market cap stood at $249.25 million.

Casper

CSPR rose 3.8% over the past day to trade at $0.04339 at the time of publishing. The enterprise-focused protocol is up 57% over the last 30 days. Its market cap stood at $452.89 million.

Sologenic

SOLO gained 2.2% over the reporting period, trading at $0.30810 as of press time. The liquidity provision protocol is up 132% over the last 30 days. Its market cap stood at $123.22 million.

Top 5 Losers

Energy Web Token

EWT shed 11.2% over the reporting period to trade at $4.22802 as of press time. Despite today’s sell-off, the energy sector-focused chain has seen 10% price growth this past week. Its market cap stood at $127.1 million.

Synapse

SYN recorded a 10.1% loss over the last 24 hours to trade at $0.94909 as of press time. The cross-chain protocol has experienced extreme volatility since the start of this week. Its market cap stood at $132.66 million.

Axie Infinity

AXIE shed 9.6% in the last 24 hours to trade at $9.06689 as of press time. Since its high-profile hack in March, the governance token has plummeted in value, currently down 92% over the last year. Its market cap stood at $874.92 million.

SushiSwap

SUSHI fell 8.8% over the past 24 hours to trade at $1.32900 at the time of publishing. The AMM DEX made a local top of $1.52 on October 19 and has been trending downwards since. Its market cap amounted to $169.11 million.

Fruits

FRTS lost 8.6% over the reporting period, trading at $0.00917 as of press time. The charity protocol continues flipping between the top gainers and losers but remains down 99% from its all-time high. Its market cap stood at $193.26 million.

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