The cryptocurrency landscape is shifting into a new landscape as October (Uptober for crypto) is at hand. There are now 30,387 different cryptocurrencies and their total market value is about $2.31 trillion. Trading activity has been high in the last 24 hours, with a total volume of around $72.98 billion.
Bitcoin ($BTC) continues to hold a position, trading at $66K while its dominance in the market is recorded at 56.3%. Moreover, Ethereum ($ETH) shows a steady price of approximately $2,671, maintaining a dominance of 14% in the market. The DeFi sector showcases a total value of $144.2 billion, demonstrating robust engagement from investors.
Crypto Price Movements and Liquidations
The daily price bounce and dip reveal varying trends among different cryptocurrencies. Notably, Pepe experienced a dip of 0.33%, while CKB showed a minor decline of 0.28%. Conversely, LDO recorded a bounce of 1.64%, indicating resilience in its price movement. Noteworthy price fluctuations are evident in the MATIC and NOT currencies, with $MATIC dipping by 0.15% and $NOT reflecting a more stable trend.
Furthermore, liquidation figures over the past 24 hours highlight significant market movements. Ethereum ($ETH) leads with $16.11 million in liquidations, closely followed by Shiba Inu and Dogecoin. These figures underscore the market’s volatility as traders swiftly react to price changes. The total liquidations in the last 24 hours reached $34.08 million, showcasing active trading strategies among participants.
Market Sentiment
The fear and greed index reflects a sentiment of greed among investors, indicating a potentially bullish market outlook. This sentiment is pivotal as it often influences trading behaviors and investment strategies. A market dominated by greed typically signals optimism, suggesting that many investors may be positioning themselves for further price increases.
Source: https://blockchainreporter.net/bitcoin-hits-66k-as-crypto-market-shows-strong-growth-btc-dominance-hits-56-3/