Crypto Beginner

Crypto market update: 12 September 2022

Crypto market update

The crypto market closed the week on a bearish note. Ethereum (ETH) and Polkadot (DOT) led the way down, with top cryptos by market cap, including Cardano (ADA), Binance Coin (BNB), Solana (SOL), and Ripple (XRP) all trading in the red. However, Bitcoin (BTC) rose by 0.82%, ending the week with a 9.15% gain to touch $21,834. With this, BTC has traded above $21,000 for the second consecutive session.

After experiencing a mixed session followed by a late pullback, the total crypto market cap is down by $12.5 billion to $1,011 billion ($1.01 trillion) for the session.

On the crypto news front, it was a quiet Sunday, leaving investors to focus on the upcoming week.

The Fear and Greed Index

Despite the bearish market sentiments, BTC managed to stay in the green on Sunday, but the Fear and Greed Index fell for the second time in a row. The Fear & Greed Index, an indicator of the crypto market sentiment, slipped back into the Extreme Fear zone. The index dropped from 26/100 to 25/100. In the absence of crypto-specific news in yesterday’s session, investor concerns ahead of this week’s release of US economic data likely contributed to the decline.

The Fear and Greed Index

Top gainers and losers

Golem (GLM), with a 16.33% gain, is the top gainer, according to live data from CoinSwitch, followed by ApeCoin (APE) and Power Ledger (POWR), which added 8.02% and 5.43%, respectively.

Among the bottom performers, Terra 2.0 (LUNA2) leads the way down with a 19.59% fall in price, after recording a bullish session last week. Other laggards were EOS (EOS) and Curve DAO (CRV) with a 4.66% and 4.40% drop, respectively.


How is the crypto market doing today?

The current status of the crypto market can vary. For real-time updates on cryptocurrency prices and market trends, platforms like The Economic Times provide live updates and news

What crypto to buy now?

The choice of cryptocurrency to buy depends on individual investment goals, risk tolerance, and market analysis. Platforms like Forbes may offer insights into promising cryptocurrencies for investment.

What is the price of crypto today?

Cryptocurrency prices fluctuate frequently. For the latest crypto prices, resources like The Economic Times offer live price charts and updates for various crypto.

How is crypto used today?

Cryptocurrencies are used for various purposes, including investment, online purchases, remittances, and decentralized finance (DeFi) applications. They enable secure and efficient peer-to-peer transactions globally.

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