Daily Crypto Market Views – XRP and BNB Buck Top Ten Trends

Key insights:

  • It was a mixed week for the top ten cryptocurrencies. XRP and BNB saw red, bucking the broader market trend.
  • There were no crypto events or external market forces to act on, allowing low-priced buyers to jump in after Saturday’s pullback.
  • The crypto market capitalization increased by $3.03 billion at the end of the day to $759.18 billion.

It was a mixed Sunday session for the top ten cryptocurrencies. XRP and BNB bucked the trend while ADA led the way. BTC returned to the green, while the $17,000 handle remained elusive for the twelfth consecutive session.

No crypto events or external market forces steered investors in the direction of early 2023. The lack of news allowed bear buyers to provide support after Saturday’s pullback.

With the global financial market closed today, it is unlikely that there will be any external market forces or crypto events to provide direction. Manufacturing PMI numbers from euro area member states and for the euro area should have a muted impact on investor sentiment later today.

However, in the last hour (UTC), the NASDAQ mini is likely to be affected.

Total Market Cap – NASDAQ – 020123 Daily Chart

The crypto market reverses Saturday’s loss to start 2023 on a bullish note

It was a bullish Sunday session. A bearish start to the year saw the crypto market capitalization drop to a mid-morning low of $752.47 billion before finding support. Rising during the afternoon session, the crypto market capitalization rose to a late high of $761.70 billion before pulling back.

Despite the late pullback, the crypto market capitalization rose $3.03 billion (0.40%) to $759.18 billion for the day.

Total market capitalization 020123 Daily chart

Crypto market movers and shakers among the top ten and beyond

It was a mixed Sunday session 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, BNB and XRP bucked the trend by falling 0.73% and 0.01% respectively.

From the CoinMarketCap top 100, it was a mixed session.

Lido DAO (LDO) led the way, gaining 13.21%, with shares of frax (FXS) and toncoin (TON) posting gains of 6.53% and 4.91% respectively.

However, UNUS SED LEO (LEO) fell 2.62%, with klaytn (KLAY) and huobi token (HT) recording losses of 1.32% and 1.22%, respectively.

24-hour liquidations fall on holiday trading volumes

Over the course of 24 hours, crypto liquidations remained below normal levels as trading volume fell over the holidays.

At the time of writing, 24-hour liquidations totaled $10.88 million.

Liquidated traders during the last 24 hours were also below normal levels. At the time of writing, the number of liquidated traders was 5,811. Crypto liquidations were higher for 12 and four hours while continuing to hover below $1 million for one hour.

Total crypto liquidations 020123

According to Coinglass, 12-hour liquidations were $7.56 million and four-hour liquidations were $3.13 million. One-hour liquidations amounted to 0.568 million dollars.

The chart below shows market conditions throughout the session.

Total market capitalization 020123 per hour

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