CryptoSlate Daily wMarket Update – Oct. 17: Polygon’s 8% gains leads large caps, but market remains stagnant

The cryptocurrency market cap saw net inflows of $12.39 billion since the last wMarket report. As of press time, the total crypto market cap stood at $936.3 billion, up 1.3% over the last 24 hours.

Bitcoin’s market cap grew 1.7% over the reporting period to $375.58 billion from $369.27 billion. Meanwhile, Ethereum’s market cap increased by 2% to $163.35 billion from $160.08 billion.

The top 10 cryptocurrencies all posted marginal gains over the last 24 hours. The exception was Polygon, which saw significant gains of 8% to lead the large caps.

The market caps of Tether (USDT) and BinanceUSD (BUSD) remained flat over the last 24 hours at $68.4 billion and $21.6 billion, respectively. Meanwhile, USD Coin’s (USDC) market cap sees a decrease of $0.35 billion to $44.65 billion.

Bitcoin

Over the last 24 hours, Bitcoin fell 1.5% to trade at $19,558 as of press time. Its market dominance grew slightly to 40.1% from 40% over the reporting period.

Price action over the reporting period was stagnant. A peak of $19,700 was achieved on Oct. 17 before edging lower to bottom out at $19,400 soon after.

Since then, BTC has been caught in a tight trading band between $19,400 and $19,600.

Ethereum

Ethereum’s price grew by 1.8% to trade at $1,333 as of press time. Its market dominance increased slightly to 17.4% from 17.3%.

Over the reporting period, the second-largest cryptocurrency by market cap ranged between $1,309 and $1,341.

Top 5 Gainers

Phala.Network

PHA is today’s top gainer, growing 34% over the reporting period to trade at $0.26882 as of press time. The privacy protocol has been on a tear lately, rising 234% over the last seven days. Its market cap stood at $110.02 million.

Mdex

MDX grew 30% over the reporting period to trade at $0.19716 as of press time. The automatic market-making decentralized exchange is up 224% over the last 30 days. Its market cap stood at $182.15 million.

Ankr

ANKR gained 24% over the last 24 hours to trade at $0.03399 as of press time. Its market cap stood at $328.47 million.

Synapse

SYN rose 19% over the past day to trade at $1.16986 at the time of publishing. Its market cap stood at $163.51 million.

Frax Share

FXS gained 16% over the reporting period, trading at $6.85111 as of press time. The governance token of the Frax ecosystem has posted 30% gains this past month. Its market cap stood at $111.05 million.

Top 5 Losers

Quant

QNT is today’s biggest loser, shedding 9% over the reporting period to trade at $199.755 as of press time. The interoperability protocol is still up 99.5% this past month. Its market cap stood at $2.41 billion.

Decentralized Social

DESO shed 7% in the last 24 hours to trade at $14.7199 as of press time. Despite impressive 122% gains over the last 30 days, the token continues to sell off. Its market cap stood at $130.78 million.

Casper

CSPR lost 4.6% over the past 24 hours to trade at $0.04630 at the time of publishing. Its market cap amounted to $482.94 million.

RichQUACK.com

QUACK recorded a 4.2% loss over the last 24 hours to trade at $0.000000002109 as of press time. The fundraising platform is up 230% in the last 30 days. Its market cap stood at $105.63 million.

Fruits

FRTS posted 4% losses over the past 24 hours to trade at $0.01038 as of press time. The charity focus chain is down 25% over the past month. Its market cap stood at $218.75 million.

The post CryptoSlate Daily wMarket Update – Oct. 17: Polygon’s 8% gains leads large caps, but market remains stagnant appeared first on CryptoSlate.