The global crypto market cap fell by 0.81 per cent to stand at $928.1 billion, while the total crypto market volume increased by 22.7 per cent to $44.8 billion in the last 24 hours.
According to Coinmarketcap, today’s top gainer was Maker; it was up by 5.1% at $769.09. The top loser was Chiliz, which was trading at $0.2183, falling 9.03% in the last 24 hours. Viberate (VIB), which is a music analytics platform, was today’s most trending crypto.
Cryptos tracked equities, which closed a dismal month with a final dismal trading day on Friday. The tech-focused Nasdaq, S&P 500, which has a strong technology component, and Dow Jones Industrial Average (DJIA) all finished down at least 1.5% amid ongoing fears that the struggle to end high inflation is leading inevitably to a harsh recession – a so-called hard, economic landing
What you need to know
On-chain data shows that September’s trading volumes saw the first notable increase since May of this year. September’s exchange trading volume jumped to $733 billion, or a 16% month-over-month increase.
September was the fifth month in a row during which fiat exchange volumes fell, with a decline of -3% compared to August. Exchanges reported $210.6 billion in total fiat exchange volume during Sept., compared to $219 billion in August.Of the crypto exchanges with fiat support, FTX saw the most volume in September — 24.6%. Next was Coinbase with 22.7%, followed by Upbit with 13%.
Over 24 hours, total liquidations rose on Sunday, with the NASDAQ 100 Mini leading to a spike in liquidations in the final hour. At the time of writing, 24-hour liquidations in the crypto market stood at $76.05 million, up from $29.26 million on Sunday morning. Liquidated traders over the last 24 hours also increased.