Cryptocurrency Market Daily Highlights – XRP and BNB Buck Top Ten Trend

Key information:

  • It was a mixed Sunday for the top ten crypto. XRP and BNB saw red, bucking the broader market trend.
  • There were no crypto events or external market forces to affect, allowing dipping buyers to enter after Saturday’s pullback.
  • The cryptocurrency market cap increased by $3.03 billion to end the day at $759.18 billion.

It was a mixed Sunday session for the top ten cryptocurrencies. XRP and BNB are bucking the trend, while ADA has led the way. BTC bounced back to the upside, as the $17,000 handle remained elusive for the 12th consecutive session.

No crypto events or external market forces steered investors in the direction into early 2023. A lack of news allowed dip buyers to provide support following Saturday’s pullback.

With the global financial market shutting down today, external market forces or crypto events are unlikely to provide any indication. Manufacturing PMI numbers from euro area and eurozone member states are expected to have a moderate impact on investor sentiment later today.

However, in the latest hour (UTC), the NASDAQ mini is likely to have an influence.

Total Market Cap – NASDAQ – 020123 Daily chart

Cryptocurrency 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 cryptocurrency market cap fall to a mid-morning low of $752.47 billion before finding support. Bullish during the afternoon session, the cryptocurrency market cap surged to a high of $761.70 billion before easing back.

Despite the late pullout, the cryptocurrency market cap increased by $3.03 billion (0.40%) to $759.18 billion for the day.

Total Market Cap 020123 Daily chart

The cryptocurrency market movers and shakers from the Top Ten and beyond

It was a mixed Sunday session for the top ten cryptocurrencies.

ADA climbed 1.63% to lead the way, with BTC (+0.48%), DOGE (+0.29%), ETH (+0.39%) and MATIC (+0.29%) who have found support.

However, BNB and XRP bucked the trend, dropping 0.73% and 0.01% respectively.

From CoinMarketCap’s top 100, it was a mixed session.

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

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

Round-the-clock liquidations plummet on holiday trading volumes

For 24 hours, cryptocurrency liquidations remained below normal levels as trading volumes declined over the holidays.

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

Traders liquidated in the last 24 hours were also sitting at lower than normal levels. At the time of writing, there were 5,811 traders liquidated. Cryptocurrency liquidations were highest in 12 and four hours, while still hovering below $1 million in an hour.

Total Crypto Settlements 020123

According to Coinglass, 12-hour liquidations totaled $7.56 million, with four-hour liquidations at $3.13 million. One-hour settlements stood at $0.568 million.

The chart below shows market conditions throughout the session.

Total Market Cap 020123 Hourly chart

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