Crypto market update: 19 October 2022

Crypto market update

After a slight uptick in the previous session, the larger crypto market experienced a bearish session yesterday. The total crypto market capitalization is $888.2 billion at publishing time, down by $10.1 billion.

With the loss in total market cap, the crypto market cap decoupled from the tech-heavy Nasdaq, which witnessed a bullish session and rose by 0.90% as of 18 October.

CRE8, the onshore crypto index, remains flat throughout the bearish session despite most of its major constituents trading in the red. At publishing time, the index is at ₹2,585.70.

The larger market moves are, of course, a reflection of the top 10 coins. With the bears looming large. Solana (SOL) and Cardano (ADA) are leading the way down, slipping by 3.22% and 3.28%, respectively, over the past 24 hours. And, since there are no updates about the ongoing legal battle between the United States’ Securities and Exchange Commission (SEC) and Ripple (XRP) to provide price support, XRP witnessed a loss of 3.12%. This reversed a 0.75% gain from the previous session.

However, the world’s largest crypto by market cap, Bitcoin (BTC), showed strength. Braving the bearish session, BTC managed to avoid the minus $19,000 zone for the third consecutive day in a row but ended the day in the red.

Crypto Fear and Greed Index

The Fear and Greed Index, an indicator of investor sentiments, rose by 1 point to 23/100, indicating investor resilience. The Index’s modest upward movement is significant because its most important constituent, BTC, fell short of $20,000 for the 11th consecutive session.

Top gainers and losers

Some key coins trading in the green over the last 24 hours at CoinSwitch are:

  • Aave (AAVE): +4.46%
  • Sushi (SUSHI): +2.91%
  • AirSwap (AST): +2.69%
  • Uniswap (UNI): +1.83%
  • Maker (MKR): +1.78%

The coins that are trading in the red, on the other end of the spectrum, are:

  • JasmyCoin (JASMY): -10.29%
  • Terra 2.0 (LUNA2): -6.61%
  • Power Ledger (POWR): -5.14%
  • Fetch.ai (FET): -4.32%
  • Gala (GALA): -4.27%

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